$23.62 Billion in Sales Expected for Home Depot Inc (HD) This Quarter
Wall Street brokerages expect Home Depot Inc (NYSE:HD) to report sales of $23.62 billion for the current quarter, according to Zacks. Ten analysts have issued estimates for Home Depot’s earnings, with the highest sales estimate coming in at $23.78 billion and the lowest estimate coming in at $23.34 billion. Home Depot reported sales of $22.21 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that Home Depot will report full year sales of $23.62 billion for the current financial year, with estimates ranging from $99.94 billion to $100.80 billion. For the next fiscal year, analysts forecast that the company will post sales of $106.95 billion per share, with estimates ranging from $104.12 billion to $108.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Home Depot.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. Home Depot’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share.
A number of research firms recently weighed in on HD. Oppenheimer restated a “buy” rating on shares of Home Depot in a research report on Tuesday, December 26th. Moffett Nathanson began coverage on shares of Home Depot in a research report on Monday, December 4th. They set a “buy” rating on the stock. Morgan Stanley set a $185.00 price target on shares of Home Depot and gave the stock a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Finally, Guggenheim began coverage on shares of Home Depot in a research report on Wednesday, December 13th. They set a “buy” rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $183.28.
In related news, EVP Matt Carey sold 41,396 shares of the company’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 transaction of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in HD. Jacobi Capital Management LLC increased its position in shares of Home Depot by 16.4% in the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after purchasing an additional 101 shares during the last quarter. Burt Wealth Advisors increased its position in shares of Home Depot by 83.5% in the 3rd quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock valued at $142,000 after purchasing an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Home Depot by 63.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after purchasing an additional 340 shares during the last quarter. Empire Life Investments Inc. increased its position in shares of Home Depot by 233.4% in the 3rd quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock valued at $157,000 after purchasing an additional 670 shares during the last quarter. Finally, CMH Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $197,000. 70.18% of the stock is currently owned by hedge funds and other institutional investors.
Home Depot (NYSE HD) traded down $0.11 on Wednesday, reaching $196.31. 5,692,700 shares of the company were exchanged, compared to its average volume of 4,346,760. The firm has a market capitalization of $232,270.00, a price-to-earnings ratio of 27.23, a PEG ratio of 1.82 and a beta of 1.11. Home Depot has a 52-week low of $134.60 and a 52-week high of $199.42. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54.
Home Depot declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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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