Home Depot (NYSE:HD) is scheduled to announce its earnings results before the market opens on Tuesday, May 21st. Analysts expect the company to announce earnings of $2.19 per share for the quarter.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, topping the Zacks’ consensus estimate of $2.16 by $0.09. The business had revenue of $26.49 billion during the quarter, compared to the consensus estimate of $26.57 billion. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.69 earnings per share. On average, analysts expect Home Depot to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.
Shares of Home Depot stock opened at $190.34 on Tuesday. The stock has a market capitalization of $210.09 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.69 and a beta of 1.09. The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68. Home Depot has a one year low of $158.09 and a one year high of $215.43.
Home Depot declared that its Board of Directors has approved a share buyback program on Tuesday, February 26th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, EVP Ann Marie Campbell sold 5,450 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the transaction, the executive vice president now owns 51,030 shares in the company, valued at approximately $9,423,710.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward P. Decker sold 23,744 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the transaction, the executive vice president now owns 86,813 shares in the company, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,194 shares of company stock worth $7,553,141. Corporate insiders own 0.27% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Ellevest Inc. purchased a new stake in Home Depot in the 1st quarter worth approximately $28,000. Portfolio Solutions LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $26,000. Nalls Sherbakoff Group LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $49,000. Finally, Private Ocean LLC boosted its position in Home Depot by 63.3% in the 1st quarter. Private Ocean LLC now owns 338 shares of the home improvement retailer’s stock worth $65,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.
A number of equities analysts have commented on HD shares. Citigroup reduced their target price on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a report on Monday, April 1st. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Deutsche Bank boosted their target price on shares of Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Royal Bank of Canada cut their price objective on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, Credit Suisse Group set a $194.00 price objective on shares of Home Depot and gave the company a “hold” rating in a report on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Home Depot presently has an average rating of “Buy” and a consensus target price of $204.71.
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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