The Home Depot, Inc. (NYSE:HD – Get Rating) – Equities researchers at Zacks Research decreased their Q2 2024 earnings per share estimates for shares of Home Depot in a research note issued to investors on Tuesday, May 30th. Zacks Research analyst R. Lohia now forecasts that the home improvement retailer will post earnings per share of $4.43 for the quarter, down from their prior estimate of $4.67. The consensus estimate for Home Depot’s current full-year earnings is $14.98 per share. Zacks Research also issued estimates for Home Depot’s Q3 2024 earnings at $3.77 EPS, Q4 2024 earnings at $2.86 EPS, FY2024 earnings at $14.89 EPS, Q1 2025 earnings at $3.71 EPS, Q2 2025 earnings at $4.77 EPS, Q3 2025 earnings at $4.10 EPS, Q4 2025 earnings at $3.12 EPS, FY2025 earnings at $15.70 EPS, Q1 2026 earnings at $3.98 EPS and FY2026 earnings at $16.63 EPS.
Several other analysts also recently commented on HD. Robert W. Baird reduced their target price at Home Depot from $340.00 to $320.00 in a research note on Friday, May 12th. StockNews.com initiated coverage on Home Depot in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Wells Fargo & Company reduced their target price at Home Depot from $350.00 to $325.00 in a research note on Wednesday, May 17th. Loop Capital cut their price target on Home Depot from $300.00 to $280.00 in a research note on Wednesday, May 17th. Finally, TheStreet downgraded Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $323.25.
Home Depot Stock Down 3.1 %
Shares of NYSE:HD opened at $283.45 on Wednesday. The business has a fifty day simple moving average of $291.24 and a 200 day simple moving average of $305.95. Home Depot has a 12-month low of $264.51 and a 12-month high of $347.25. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02. The firm has a market cap of $284.97 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.88 and a beta of 0.93.
Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. The company had revenue of $37.26 billion during the quarter, compared to analysts’ expectations of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. Home Depot’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.09 EPS.
Home Depot Announces Dividends
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $2.09 per share. The ex-dividend date is Wednesday, May 31st. This represents an $8.36 annualized dividend and a yield of 2.95%. Home Depot’s payout ratio is 50.94%.
Insiders Place Their Bets
In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total value of $440,221.18. Following the transaction, the executive vice president now directly owns 13,958 shares in the company, valued at approximately $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.
Institutional Investors Weigh In On Home Depot
Hedge funds have recently modified their holdings of the business. Slow Capital Inc. purchased a new stake in Home Depot during the first quarter valued at approximately $25,000. Kalos Management Inc. purchased a new stake in Home Depot during the first quarter valued at approximately $26,000. Fairfield Bush & CO. purchased a new stake in Home Depot during the first quarter valued at approximately $27,000. KB Financial Partners LLC purchased a new stake in Home Depot during the first quarter valued at approximately $28,000. Finally, Align Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 68.31% of the company’s stock.
About Home Depot
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The Home Depot, Inc. engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: US, Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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