THE FY2020 EPS ESTIMATES FOR HOME DEPOT INC BOOSTED BY ANALYST (HD)
Home Depot Inc (NYSE:HD) – Investment analysts at Gabelli lifted their FY2020 earnings estimates for shares of Home Depot in a note issued to investors on Wednesday, February 27th. Gabelli analyst A. Lacayo now forecasts that the home improvement retailer will earn $11.05 per share for the year, up from their prior forecast of $10.35.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.09. The company had revenue of $26.49 billion during the quarter, compared to the consensus estimate of $26.57 billion. Home Depot had a net margin of 10.00% and a return on equity of 664.88%. Home Depot’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS.
HD has been the subject of several other reports. Credit Suisse Group set a $194.00 price target on shares of Home Depot and gave the company a “hold” rating in a report on Tuesday. Telsey Advisory Group downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating and cut their price target for the company from $205.00 to $192.00 in a report on Wednesday. Edward Jones raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Deutsche Bank raised their price target on shares of Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday. Finally, DZ Bank downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $203.41.
HD opened at $185.17 on Friday. The company has a market capitalization of $217.31 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.46 and a beta of 1.10. Home Depot has a 12 month low of $158.09 and a 12 month high of $215.43. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 17.68.
Several institutional investors have recently bought and sold shares of HD. Portfolio Solutions LLC purchased a new position in Home Depot in the 4th quarter worth $26,000. Nalls Sherbakoff Group LLC purchased a new position in Home Depot in the 4th quarter worth $30,000. Virtus ETF Advisers LLC purchased a new position in Home Depot in the 4th quarter worth $32,000. Enlightenment Research LLC purchased a new position in Home Depot in the 4th quarter worth $34,000. Finally, Private Ocean LLC raised its position in Home Depot by 53.3% in the 4th quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 69.34% of the company’s stock.
In other news, EVP Teresa Wynn Roseborough sold 7,203 shares of the firm’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $177.45, for a total transaction of $1,278,172.35. Following the sale, the executive vice president now owns 23,109 shares in the company, valued at approximately $4,100,692.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Holifield sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the sale, the executive vice president now owns 39,794 shares in the company, valued at approximately $7,306,178.40. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be issued a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.94%. This is an increase from Home Depot’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Wednesday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 55.23%.
Home Depot declared that its Board of Directors has approved a share repurchase program on Tuesday, February 26th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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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