Analysts forecast that The Home Depot, Inc. (NYSE:HD – Get Rating) will report sales of $36.59 billion for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Home Depot’s earnings. The lowest sales estimate is $34.60 billion and the highest is $37.56 billion. Home Depot reported sales of $37.50 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Home Depot will report full-year sales of $153.10 billion for the current financial year, with estimates ranging from $150.86 billion to $154.77 billion. For the next fiscal year, analysts expect that the company will report sales of $158.70 billion, with estimates ranging from $155.36 billion to $161.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Home Depot.
Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.01. Home Depot had a return on equity of 2,082.76% and a net margin of 10.87%. The company had revenue of $35.72 billion during the quarter, compared to analyst estimates of $34.85 billion. During the same quarter last year, the firm posted $2.74 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis.
A number of brokerages recently commented on HD. Loop Capital dropped their price target on Home Depot from $380.00 to $320.00 in a research note on Wednesday, February 23rd. Jefferies Financial Group decreased their price objective on Home Depot from $455.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. Piper Sandler decreased their price objective on Home Depot from $342.00 to $314.00 and set a “neutral” rating for the company in a report on Thursday, April 7th. StockNews.com began coverage on Home Depot in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, UBS Group decreased their price objective on Home Depot from $470.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Buy” and an average price target of $387.08.
HD stock traded down $5.90 on Wednesday, reaching $304.52. The company’s stock had a trading volume of 4,569,196 shares, compared to its average volume of 5,466,881. The business has a fifty day simple moving average of $323.62 and a two-hundred day simple moving average of $359.46. Home Depot has a 12-month low of $293.59 and a 12-month high of $420.61. The firm has a market cap of $314.68 billion, a PE ratio of 19.62, a PEG ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.24 and a current ratio of 1.01.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Thursday, March 10th were paid a dividend of $1.90 per share. This is an increase from Home Depot’s previous quarterly dividend of $1.65. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, March 9th. Home Depot’s payout ratio is currently 48.97%.
In other Home Depot news, EVP Hector A. Padilla sold 504 shares of the business’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $309.80, for a total transaction of $156,139.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.
A number of hedge funds have recently bought and sold shares of HD. Annex Advisory Services LLC raised its holdings in shares of Home Depot by 6.2% during the 1st quarter. Annex Advisory Services LLC now owns 20,587 shares of the home improvement retailer’s stock worth $6,162,000 after acquiring an additional 1,210 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Home Depot by 20.4% during the 1st quarter. IFM Investors Pty Ltd now owns 166,390 shares of the home improvement retailer’s stock worth $49,806,000 after acquiring an additional 28,209 shares in the last quarter. Scharf Investments LLC raised its holdings in shares of Home Depot by 5.8% during the 1st quarter. Scharf Investments LLC now owns 6,001 shares of the home improvement retailer’s stock worth $1,796,000 after acquiring an additional 329 shares in the last quarter. Kowal Investment Group LLC raised its holdings in shares of Home Depot by 3.7% during the 1st quarter. Kowal Investment Group LLC now owns 2,965 shares of the home improvement retailer’s stock worth $887,000 after acquiring an additional 106 shares in the last quarter. Finally, WealthBridge Capital Management LLC raised its holdings in shares of Home Depot by 136.3% during the 1st quarter. WealthBridge Capital Management LLC now owns 2,999 shares of the home improvement retailer’s stock worth $898,000 after acquiring an additional 1,730 shares in the last quarter. Institutional investors and hedge funds own 69.52% of the company’s stock.
Home Depot Company Profile (Get Rating)
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
Further Reading
Get a free copy of the Zacks research report on Home Depot (HD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Want More Great Investing Ideas?
Receive News & Ratings for Home Depot Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Home Depot and related companies with MarketBeat.com’s FREE daily email newsletter.
