Analysts expect that The Home Depot, Inc. (NYSE:HD) will report sales of $34.61 billion for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Home Depot’s earnings. The lowest sales estimate is $33.61 billion and the highest is $35.56 billion. Home Depot posted sales of $32.26 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.3%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, February 22nd.
According to Zacks, analysts expect that Home Depot will report full-year sales of $150.01 billion for the current fiscal year, with estimates ranging from $149.05 billion to $151.00 billion. For the next year, analysts forecast that the company will report sales of $152.94 billion, with estimates ranging from $149.86 billion to $154.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Home Depot.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 16th. The home improvement retailer reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.51. Home Depot had a return on equity of 786.90% and a net margin of 10.79%. The company had revenue of $36.82 billion during the quarter, compared to the consensus estimate of $34.87 billion. During the same quarter last year, the business posted $3.18 earnings per share. Home Depot’s revenue was up 9.8% compared to the same quarter last year.
Several equities research analysts have recently issued reports on HD shares. Telsey Advisory Group raised their price objective on Home Depot from $390.00 to $425.00 and gave the stock an “outperform” rating in a report on Friday, November 12th. Credit Suisse Group raised their price objective on Home Depot from $357.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, November 18th. Oppenheimer upgraded Home Depot from a “market perform” rating to an “outperform” rating and set a $470.00 price objective on the stock in a report on Monday, December 6th. Loop Capital lifted their target price on Home Depot from $325.00 to $340.00 and gave the company a “hold” rating in a report on Wednesday, November 17th. Finally, Robert W. Baird lifted their target price on Home Depot from $360.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, November 16th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $417.30.
In related news, CFO Richard V. Mcphail sold 14,544 shares of the company’s stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $392.83, for a total value of $5,713,319.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 18,878 shares of the company’s stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $395.19, for a total transaction of $7,460,396.82. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
A number of large investors have recently modified their holdings of HD. Core Alternative Capital bought a new stake in Home Depot during the third quarter valued at about $29,000. Barnett & Company Inc. boosted its holdings in Home Depot by 173.1% during the fourth quarter. Barnett & Company Inc. now owns 71 shares of the home improvement retailer’s stock valued at $30,000 after acquiring an additional 45 shares during the period. Activest Wealth Management bought a new stake in Home Depot during the second quarter valued at about $34,000. Retirement Group LLC boosted its holdings in Home Depot by 111.1% during the fourth quarter. Retirement Group LLC now owns 95 shares of the home improvement retailer’s stock valued at $39,000 after acquiring an additional 50 shares during the period. Finally, Strategic Asset Management LLC bought a new stake in Home Depot during the third quarter valued at about $41,000. Hedge funds and other institutional investors own 69.53% of the company’s stock.
HD stock opened at $364.37 on Thursday. Home Depot has a 52-week low of $246.59 and a 52-week high of $420.61. The stock’s fifty day simple moving average is $387.43 and its 200-day simple moving average is $362.42. The company has a quick ratio of 0.37, a current ratio of 1.13 and a debt-to-equity ratio of 35.47. The stock has a market capitalization of $380.49 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.82 and a beta of 1.02.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 16th. Stockholders of record on Thursday, December 2nd were paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, December 1st. Home Depot’s dividend payout ratio (DPR) is presently 44.12%.
About Home Depot
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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