Zacks: Brokerages Anticipate Home Depot Inc (HD) to Announce $2.27 Earnings Per Share

Brokerages expect that Home Depot Inc (NYSE:HD) will announce earnings of $2.27 per share for the current quarter, Zacks Investment Research reports. Twelve analysts have provided estimates for Home Depot’s earnings. The highest EPS estimate is $2.38 and the lowest is $2.16. Home Depot reported earnings per share of $1.84 in the same quarter last year, which suggests a positive year-over-year growth rate of 23.4%. The firm is expected to announce its next quarterly earnings results before the market opens on Tuesday, November 13th.

According to Zacks, analysts expect that Home Depot will report full-year earnings of $9.56 per share for the current year, with EPS estimates ranging from $9.38 to $9.80. For the next year, analysts anticipate that the firm will report earnings of $10.22 per share, with EPS estimates ranging from $9.90 to $10.47. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Home Depot.

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

HD has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Home Depot from a “buy” rating to a “sell” rating in a research report on Tuesday, October 16th. Citigroup increased their price objective on shares of Home Depot from $205.00 to $220.00 and gave the stock a “positive” rating in a research report on Friday, August 10th. Wells Fargo & Co reaffirmed a “buy” rating and set a $230.00 price objective on shares of Home Depot in a research report on Sunday, September 16th. Credit Suisse Group reaffirmed a “neutral” rating and set a $204.00 price objective (down previously from $222.00) on shares of Home Depot in a research report on Wednesday, October 17th. Finally, ValuEngine cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Home Depot currently has an average rating of “Buy” and an average target price of $205.28.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. HC Financial Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at $3,778,000. Wallington Asset Management LLC grew its position in shares of Home Depot by 1.0% in the 1st quarter. Wallington Asset Management LLC now owns 79,269 shares of the home improvement retailer’s stock valued at $14,129,000 after buying an additional 810 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Home Depot by 10.4% in the 1st quarter. Penserra Capital Management LLC now owns 4,111 shares of the home improvement retailer’s stock valued at $732,000 after buying an additional 388 shares during the last quarter. WESPAC Advisors LLC purchased a new position in Home Depot during the 1st quarter worth $799,000. Finally, Willingdon Wealth Management grew its position in Home Depot by 11.3% during the 1st quarter. Willingdon Wealth Management now owns 15,508 shares of the home improvement retailer’s stock worth $2,764,000 after purchasing an additional 1,580 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

NYSE:HD opened at $185.99 on Friday. The company has a debt-to-equity ratio of 11.60, a current ratio of 1.13 and a quick ratio of 0.37. The company has a market cap of $214.22 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.47 and a beta of 1.26. Home Depot has a fifty-two week low of $162.93 and a fifty-two week high of $215.43.

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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Earnings History and Estimates for Home Depot (NYSE:HD)

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