Home Depot Inc (NYSE:HD) – Investment analysts at Jefferies Group decreased their FY2023 earnings per share (EPS) estimates for Home Depot in a report issued on Tuesday. Jefferies Group analyst D. Binder now anticipates that the home improvement retailer will earn $14.06 per share for the year, down from their prior forecast of $14.14. Jefferies Group has a “Buy” rating and a $223.00 price target on the stock.
Several other equities research analysts have also weighed in on the company. SunTrust Banks raised their target price on Home Depot to $187.00 and gave the stock a “hold” rating in a research report on Thursday. 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 raised 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 downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Wedbush restated a “hold” rating and set a $190.00 price target (up previously from $170.00) 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 issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $193.38.
Shares of Home Depot (NYSE:HD) traded up $2.89 during midday trading on Thursday, hitting $188.35. The stock had a trading volume of 4,320,000 shares, compared to its average volume of 5,840,000. The company has a quick ratio of 0.39, a current ratio of 1.17 and a debt-to-equity ratio of 16.69. Home Depot has a 1-year low of $144.25 and a 1-year high of $207.60. The firm has a market cap of $219,950.00, a price-to-earnings ratio of 25.45, a PEG ratio of 1.42 and a beta of 1.08.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The business had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. During the same quarter last year, the company earned $1.44 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis.
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 paid a $1.03 dividend. This is an increase from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, March 7th. Home Depot’s dividend payout ratio (DPR) is 48.11%.
Home Depot declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 6th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In other news, CEO Craig A. Menear sold 113,687 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $183.79, for a total value of $20,894,533.73. Following the completion of the sale, the chief executive officer now directly owns 237,957 shares of the company’s stock, valued at approximately $43,734,117.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matt Carey sold 41,396 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of HD. Vanguard Group Inc. raised its holdings in Home Depot by 0.9% during the second quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock worth $12,336,016,000 after purchasing an additional 703,292 shares during the last quarter. Capital Research Global Investors raised its holdings in Home Depot by 0.9% during the second quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock worth $3,071,943,000 after purchasing an additional 170,139 shares during the last quarter. Northern Trust Corp raised its holdings in Home Depot by 1.3% during the second quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock worth $2,659,010,000 after purchasing an additional 222,958 shares during the last quarter. Geode Capital Management LLC raised its holdings in Home Depot by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock worth $2,207,871,000 after purchasing an additional 259,863 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Home Depot by 65.4% during the fourth quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock worth $1,559,421,000 after purchasing an additional 3,254,382 shares during the last quarter. 70.36% of the stock is 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.
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