Brokerages expect The Home Depot, Inc. (NYSE:HD) to post sales of $40.05 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for The Home Depot’s earnings. The lowest sales estimate is $35.44 billion and the highest is $41.68 billion. The Home Depot posted sales of $38.05 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 17th.
On average, analysts expect that The Home Depot will report full year sales of $143.15 billion for the current fiscal year, with estimates ranging from $132.95 billion to $148.64 billion. For the next year, analysts anticipate that the company will report sales of $144.95 billion, with estimates ranging from $133.77 billion to $150.39 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow The Home Depot.
The Home Depot (NYSE:HD) last released its earnings results on Monday, May 17th. The home improvement retailer reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.78. The Home Depot had a return on equity of 963.88% and a net margin of 10.45%. The company had revenue of $37.50 billion during the quarter, compared to the consensus estimate of $33.68 billion. During the same quarter last year, the company earned $2.08 earnings per share. The Home Depot’s quarterly revenue was up 32.7% compared to the same quarter last year.
Several research analysts have recently issued reports on the company. Credit Suisse Group lifted their price target on The Home Depot from $319.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 25th. Piper Sandler lifted their price target on The Home Depot from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 19th. JPMorgan Chase & Co. lifted their price target on The Home Depot from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. Morgan Stanley lifted their price objective on The Home Depot from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, May 24th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on The Home Depot from $288.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, May 4th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $331.65.
In related news, EVP Matt Carey sold 113,138 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $316.00, for a total transaction of $35,751,608.00. Following the transaction, the executive vice president now directly owns 78,594 shares of the company’s stock, valued at approximately $24,835,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in HD. KB Financial Partners LLC bought a new stake in shares of The Home Depot in the 1st quarter valued at approximately $29,000. Elmwood Wealth Management Inc. bought a new position in shares of The Home Depot in the first quarter worth $41,000. Grant Street Asset Management Inc. acquired a new stake in shares of The Home Depot in the fourth quarter valued at $42,000. Paradigm Strategies in Wealth Management LLC acquired a new stake in shares of The Home Depot in the first quarter valued at $52,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in shares of The Home Depot in the first quarter valued at $61,000. 69.75% of the stock is currently owned by institutional investors.
NYSE:HD opened at $323.48 on Thursday. The firm has a market cap of $343.94 billion, a P/E ratio of 23.59, a PEG ratio of 2.01 and a beta of 1.04. The company has a quick ratio of 0.41, a current ratio of 1.11 and a debt-to-equity ratio of 19.85. The Home Depot has a 52-week low of $246.22 and a 52-week high of $345.69. The stock’s fifty day moving average price is $317.78.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 17th. Investors of record on Thursday, June 3rd were given a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, June 2nd. The Home Depot’s dividend payout ratio (DPR) is presently 54.86%.
The Home Depot declared that its board has approved a stock repurchase program on Thursday, May 20th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
About The Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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