Home Depot Inc (NYSE:HD) – Equities researchers at KeyCorp dropped their FY2018 EPS estimates for shares of Home Depot in a note issued to investors on Thursday. KeyCorp analyst B. Thomas now expects that the home improvement retailer will post earnings per share of $7.20 for the year, down from their prior forecast of $7.38. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Home Depot’s Q4 2018 earnings at $1.43 EPS.
Several other equities analysts also recently weighed in on HD. Stifel Nicolaus lifted their price target on shares of Home Depot from $209.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group lifted their price target on shares of Home Depot from $183.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $164.00 price target on shares of Home Depot in a report on Sunday, October 1st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $190.00) on shares of Home Depot in a report on Friday, January 19th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $195.00 price target on shares of Home Depot in a report on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $187.76.
Home Depot (NYSE:HD) last issued its quarterly earnings results 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 net margin of 8.66% and a return on equity of 238.88%. The business had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.53 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis.
Home Depot declared that its board has authorized a share buyback plan on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the sale, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC increased its position in Home Depot by 16.4% during the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after acquiring an additional 101 shares during the last quarter. Denali Advisors LLC bought a new position in Home Depot during the fourth quarter valued at $133,000. Burt Wealth Advisors increased its position in Home Depot by 83.5% during the third quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock valued at $142,000 after acquiring an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Home Depot by 63.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after acquiring an additional 340 shares during the last quarter. Finally, Empire Life Investments Inc. increased its position in Home Depot by 233.4% during the third quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock valued at $157,000 after acquiring an additional 670 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.
About Home Depot
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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