Brokers Offer Predictions for Home Depot Inc’s FY2019 Earnings (HD)
Home Depot Inc (NYSE:HD) – Investment analysts at Wedbush boosted their FY2019 earnings estimates for shares of Home Depot in a report released on Wednesday, November 14th. Wedbush analyst S. Basham now expects that the home improvement retailer will post earnings of $9.76 per share for the year, up from their previous forecast of $9.44. Wedbush also issued estimates for Home Depot’s Q1 2020 earnings at $2.23 EPS, Q2 2020 earnings at $3.21 EPS, Q3 2020 earnings at $2.44 EPS, Q4 2020 earnings at $2.27 EPS, FY2020 earnings at $10.15 EPS and FY2021 earnings at $10.80 EPS.
Several other brokerages also recently issued reports on HD. Zacks Investment Research downgraded Home Depot from a “buy” rating to a “sell” rating in a research report on Tuesday, October 16th. Credit Suisse Group cut their price objective on Home Depot from $204.00 to $194.00 and set a “neutral” rating for the company in a research report on Thursday, November 15th. Deutsche Bank cut their price objective on Home Depot from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Citigroup lifted their price objective on Home Depot from $205.00 to $220.00 and gave the stock a “positive” rating in a research report on Friday, August 10th. Finally, Wells Fargo & Co restated a “buy” rating and set a $230.00 price objective on shares of Home Depot in a research report on Sunday, September 16th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Home Depot has an average rating of “Buy” and an average price target of $204.16.
Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 13th. The home improvement retailer reported $2.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.24. Home Depot had a return on equity of 664.88% and a net margin of 10.00%. The firm had revenue of $26.30 billion during the quarter, compared to the consensus estimate of $26.23 billion. During the same period in the previous year, the firm posted $1.84 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 29th will be issued a $1.03 dividend. The ex-dividend date is Wednesday, November 28th. This represents a $4.12 annualized dividend and a yield of 2.44%. Home Depot’s dividend payout ratio (DPR) is presently 55.23%.
In related news, Director Manuel Kadre acquired 2,000 shares of the stock in a transaction dated Wednesday, November 14th. The stock was bought at an average cost of $177.48 per share, with a total value of $354,960.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $354,960. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Craig A. Menear sold 117,327 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $180.42, for a total transaction of $21,168,137.34. Following the sale, the chief executive officer now directly owns 264,970 shares of the company’s stock, valued at $47,805,887.40. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amussen Hunsaker Associates LLC purchased a new stake in Home Depot during the 2nd quarter worth $107,000. Lucia Wealth Services LLC purchased a new stake in Home Depot during the 1st quarter worth $101,000. CSat Investment Advisory L.P. purchased a new stake in Home Depot during the 2nd quarter worth $112,000. Mainstay Capital Management LLC ADV boosted its position in Home Depot by 203.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 597 shares of the home improvement retailer’s stock worth $116,000 after purchasing an additional 400 shares during the period. Finally, RPg Family Wealth Advisory LLC boosted its position in Home Depot by 84.6% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 600 shares of the home improvement retailer’s stock worth $117,000 after purchasing an additional 275 shares during the period. 69.52% of the stock is owned by institutional investors.
Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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