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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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