Wedbush Weighs in on Home Depot Inc’s FY2020 Earnings (HD)

Home Depot Inc (NYSE:HD) – Equities researchers at Wedbush raised their FY2020 earnings per share (EPS) estimates for Home Depot in a report released on Thursday. Wedbush analyst S. Basham now forecasts that the home improvement retailer will post earnings of $9.61 per share for the year, up from their prior forecast of $8.68. Wedbush currently has a “Hold” rating and a $190.00 target price on the stock.

A number of other equities research analysts have also issued reports on HD. Telsey Advisory Group reaffirmed an “outperform” rating and set a $217.00 target price (down previously from $220.00) on shares of Home Depot in a report on Wednesday. Argus set a $215.00 target price on shares of Home Depot and gave the stock a “buy” rating in a report on Wednesday. Bank of America reaffirmed a “buy” rating and set a $190.60 target price (down previously from $219.00) on shares of Home Depot in a report on Tuesday. Stifel Nicolaus reissued a “buy” rating and set a $225.00 price target (down previously from $230.00) on shares of Home Depot in a research report on Wednesday. Finally, Citigroup reissued a “buy” rating and set a $219.00 price target (up previously from $213.00) on shares of Home Depot in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Home Depot presently has an average rating of “Buy” and an average price target of $192.12.

Home Depot (NYSE HD) traded down $2.63 during trading on Monday, hitting $184.08. 6,298,922 shares of the stock were exchanged, compared to its average volume of 5,437,741. Home Depot has a fifty-two week low of $143.97 and a fifty-two week high of $207.60. The stock has a market capitalization of $216,350.00, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.08. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $23.88 billion during the quarter, compared to analyst estimates of $23.65 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year.

Home Depot announced that its board has authorized a share buyback program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be given a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 2.24%. This is a boost from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s dividend payout ratio is presently 48.11%.

In other Home Depot news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Jacobi Capital Management LLC lifted its position in shares of Home Depot by 16.4% during the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after purchasing an additional 101 shares in the last quarter. Ford Financial Group Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth about $108,000. Earnest Partners LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $108,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth about $112,000. Finally, Denali Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $133,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

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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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