Home Depot Inc (HD) Expected to Announce Quarterly Sales of $26.26 Billion

Wall Street brokerages forecast that Home Depot Inc (NYSE:HD) will announce sales of $26.26 billion for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Home Depot’s earnings. The highest sales estimate is $26.57 billion and the lowest is $26.04 billion. Home Depot reported sales of $25.03 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The business is expected to issue its next quarterly earnings report on Tuesday, November 13th.

On average, analysts expect that Home Depot will report full year sales of $108.26 billion for the current fiscal year, with estimates ranging from $107.90 billion to $108.75 billion. For the next year, analysts expect that the company will report sales of $112.32 billion per share, with estimates ranging from $111.56 billion to $113.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Home Depot.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.21. Home Depot had a return on equity of 522.68% and a net margin of 9.45%. The business had revenue of $30.46 billion for the quarter, compared to analysts’ expectations of $30.04 billion. During the same quarter in the previous year, the business posted $0.59 EPS. Home Depot’s revenue for the quarter was up 8.4% on a year-over-year basis.

Several equities analysts have recently weighed in on HD shares. Citigroup lifted their price objective on Home Depot from $205.00 to $220.00 and gave the company a “positive” rating in a report on Friday, August 10th. Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. UBS Group lifted their price objective on Home Depot from $212.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, June 20th. Loop Capital set a $200.00 price objective on Home Depot and gave the company a “hold” rating in a report on Wednesday, July 11th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $203.00 price objective on shares of Home Depot in a report on Thursday, August 16th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $204.96.

NYSE:HD opened at $209.45 on Friday. Home Depot has a fifty-two week low of $157.16 and a fifty-two week high of $215.43. The company has a current ratio of 1.13, a quick ratio of 0.37 and a debt-to-equity ratio of 11.60. The stock has a market cap of $244.67 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, August 29th. Home Depot’s payout ratio is 55.23%.

In other Home Depot news, EVP Matt Carey sold 4,125 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $195.43, for a total transaction of $806,148.75. Following the transaction, the executive vice president now owns 60,179 shares of the company’s stock, valued at approximately $11,760,781.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William G. Lennie sold 10,854 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total value of $2,188,600.56. Following the transaction, the executive vice president now directly owns 40,057 shares in the company, valued at approximately $8,077,093.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Several large investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Home Depot by 0.8% during the 1st quarter. BlackRock Inc. now owns 72,237,480 shares of the home improvement retailer’s stock worth $12,875,610,000 after acquiring an additional 604,634 shares during the last quarter. FMR LLC increased its holdings in shares of Home Depot by 0.4% during the 2nd quarter. FMR LLC now owns 28,997,912 shares of the home improvement retailer’s stock worth $5,657,493,000 after acquiring an additional 109,499 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Home Depot by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock worth $2,207,871,000 after acquiring an additional 259,863 shares during the last quarter. Morgan Stanley increased its holdings in shares of Home Depot by 11.4% during the 2nd quarter. Morgan Stanley now owns 9,687,271 shares of the home improvement retailer’s stock worth $1,889,985,000 after acquiring an additional 991,466 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Home Depot by 1.4% during the 4th quarter. Clearbridge Investments LLC now owns 8,180,356 shares of the home improvement retailer’s stock worth $1,550,423,000 after acquiring an additional 115,794 shares during the last quarter. 69.03% of the stock is currently owned by hedge funds and other institutional investors.

About 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, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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