Home Depot (NYSE:HD) Posts Earnings Results, Beats Expectations By $0.08 EPS

Home Depot (NYSE:HD) announced its quarterly earnings results on Tuesday. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08, RTT News reports. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. Home Depot updated its FY 2024 guidance to 14.510-14.810 EPS.

Home Depot Stock Down 0.8 %

HD opened at $345.97 on Tuesday. The stock has a market capitalization of $343.07 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.48 and a beta of 0.98. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The firm has a 50 day moving average price of $348.52 and a 200-day moving average price of $353.18. Home Depot has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.60%. Home Depot’s payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Wednesday, August 7th. Evercore ISI boosted their price target on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $352.00 to $395.00 in a research note on Wednesday, June 26th. TD Cowen cut their target price on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $384.00.

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.10% of the company’s stock.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.