Home Depot Inc (NYSE:HD) – Research analysts at SunTrust Banks raised their Q1 2019 earnings per share (EPS) estimates for shares of Home Depot in a report released on Wednesday. SunTrust Banks analyst K. Hughes now forecasts that the home improvement retailer will post earnings per share of $2.05 for the quarter, up from their prior estimate of $1.83. SunTrust Banks currently has a “Hold” rating and a $187.00 target price on the stock. SunTrust Banks also issued estimates for Home Depot’s Q2 2019 earnings at $2.81 EPS, Q3 2019 earnings at $2.25 EPS, Q4 2019 earnings at $2.19 EPS and FY2019 earnings at $9.30 EPS.
Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.07. The firm had revenue of $23.88 billion for the quarter, compared to analysts’ expectations of $23.65 billion. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 earnings per share.
Several other equities research analysts have also recently weighed in on the company. Credit Suisse Group set a $222.00 price target on Home Depot and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets upped their price target on Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research note on Thursday. Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday. Wedbush reaffirmed a “hold” rating and issued a $190.00 price target (up from $170.00) on shares of Home Depot in a research note on Wednesday. Finally, Argus reaffirmed a “buy” rating and issued a $215.00 price target (up from $190.00) on shares of Home Depot in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $193.38.
Shares of Home Depot (HD) traded up $1.33 during mid-day trading on Friday, reaching $186.80. The company had a trading volume of 2,317,788 shares, compared to its average volume of 5,440,609. The stock has a market capitalization of $218,190.00, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Home Depot has a 12 month low of $144.25 and a 12 month high of $207.60. The company has a debt-to-equity ratio of 16.69, a quick ratio of 0.39 and a current ratio of 1.17.
Home Depot declared that its board has authorized a share repurchase plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be issued a dividend of $1.03 per share. This is an increase from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, March 7th. Home Depot’s dividend payout ratio is presently 48.11%.
In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Garde Capital Inc. lifted its holdings in Home Depot by 23.1% in the fourth quarter. Garde Capital Inc. now owns 1,866 shares of the home improvement retailer’s stock valued at $354,000 after acquiring an additional 350 shares during the period. Chemical Bank lifted its holdings in Home Depot by 4.9% in the fourth quarter. Chemical Bank now owns 33,120 shares of the home improvement retailer’s stock valued at $6,277,000 after acquiring an additional 1,537 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Home Depot by 15.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 143,311 shares of the home improvement retailer’s stock valued at $27,162,000 after acquiring an additional 18,968 shares during the period. Certified Advisory Corp bought a new position in Home Depot in the fourth quarter valued at about $747,000. Finally, Ackerman Capital Advisors LLC bought a new position in Home Depot in the fourth quarter valued at about $233,000. 70.36% of the stock is currently owned by hedge funds and other institutional investors.
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Home Depot Company Profile
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.
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