Home Depot (HD) Releases FY19 Earnings Guidance

Home Depot (NYSE:HD) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $9.31 for the period, compared to the Thomson Reuters consensus estimate of $9.32. The company issued revenue guidance of $107462.8 million, compared to the consensus revenue estimate of $107.09 billion.

A number of research firms recently issued reports on HD. Credit Suisse Group raised their price target on Home Depot from $183.00 to $222.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Stifel Nicolaus raised their price target on Home Depot from $209.00 to $230.00 and gave the stock a buy rating in a report on Thursday, January 25th. Telsey Advisory Group reissued an outperform rating and set a $220.00 price target (up previously from $190.00) on shares of Home Depot in a report on Friday, January 19th. Jefferies Group reissued a buy rating and set a $223.00 price target on shares of Home Depot in a report on Monday, February 5th. Finally, Oppenheimer reissued a buy rating on shares of Home Depot in a report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $190.34.

Shares of Home Depot (HD) opened at $186.97 on Tuesday. Home Depot has a 12-month low of $141.00 and a 12-month high of $207.60. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. The stock has a market cap of $218,330.00, a P/E ratio of 25.93, a PEG ratio of 1.36 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.07. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. During the same period last year, the firm earned $1.44 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. sell-side analysts anticipate that Home Depot will post 7.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s dividend payout ratio (DPR) is presently 49.38%.

Home Depot announced that its board has initiated a share buyback plan on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other news, EVP Matt Carey sold 41,396 shares of Home Depot stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now directly owns 29,559 shares in the company, valued at approximately $5,410,183.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its stake in Home Depot by 2,013.2% in the 2nd quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock worth $509,247,000 after acquiring an additional 3,162,631 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Home Depot in the 2nd quarter worth approximately $133,780,000. Parametric Portfolio Associates LLC grew its stake in Home Depot by 35.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,265,338 shares of the home improvement retailer’s stock worth $500,903,000 after acquiring an additional 850,074 shares during the period. Vanguard Group Inc. grew its stake in Home Depot by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock worth $12,336,016,000 after acquiring an additional 703,292 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Home Depot by 50.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,879,400 shares of the home improvement retailer’s stock worth $288,300,000 after acquiring an additional 633,300 shares during the period. Hedge funds and other institutional investors own 70.36% of the company’s stock.

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About Home Depot

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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

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