FY2019 Earnings Forecast for Home Depot Inc (HD) Issued By Wedbush
Home Depot Inc (NYSE:HD) – Investment analysts at Wedbush raised their FY2019 earnings estimates for shares of Home Depot in a research report issued on Thursday. Wedbush analyst S. Basham now anticipates that the home improvement retailer will post earnings per share of $8.89 for the year, up from their previous estimate of $8.04.
Other equities research analysts have also issued reports about the company. Deutsche Bank upped their price objective on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Argus upped their price objective on Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Robert W. Baird set a $175.00 price objective on Home Depot and gave the company a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Atlantic Securities upgraded Home Depot from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $174.16 to $174.95 in a research note on Tuesday, November 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $183.28.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The company had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same period in the prior year, the company posted $1.60 EPS. The company’s revenue was up 8.1% compared to the same quarter last year.
Home Depot declared that its board has authorized a share buyback plan on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in shares of Home Depot by 2,013.2% in the 2nd quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock valued at $509,247,000 after purchasing an additional 3,162,631 shares during the period. Capital International Investors lifted its stake in shares of Home Depot by 132.5% in the 3rd quarter. Capital International Investors now owns 3,268,036 shares of the home improvement retailer’s stock valued at $534,520,000 after purchasing an additional 1,862,134 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Home Depot by 15,121.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,865,037 shares of the home improvement retailer’s stock valued at $12,158,000 after purchasing an additional 1,852,784 shares during the period. Stifel Financial Corp lifted its stake in shares of Home Depot by 8,118.8% in the 3rd quarter. Stifel Financial Corp now owns 1,174,227 shares of the home improvement retailer’s stock valued at $191,976,000 after purchasing an additional 1,159,940 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Home Depot in the 2nd quarter valued at $133,780,000. 70.18% of the stock is currently owned by hedge funds and other institutional investors.
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Home Depot Company Profile
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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