Home Depot Inc (NYSE:HD) – Oppenheimer issued their Q1 2019 earnings estimates for shares of Home Depot in a research note issued on Friday. Oppenheimer analyst B. Nagel anticipates that the home improvement retailer will earn $2.12 per share for the quarter. Oppenheimer currently has a “Buy” rating on the stock. Oppenheimer also issued estimates for Home Depot’s Q2 2019 earnings at $2.90 EPS, Q3 2019 earnings at $2.36 EPS, Q4 2019 earnings at $2.24 EPS and FY2020 earnings at $10.20 EPS.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.07. The company had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $23.65 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 EPS.
Several other research firms have also recently commented on HD. Credit Suisse Group increased their target price on Home Depot from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus increased their target price on Home Depot from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Telsey Advisory Group reiterated an “outperform” rating and set a $220.00 target price (up from $190.00) on shares of Home Depot in a research note on Friday, January 19th. Jefferies Group reiterated a “buy” rating and set a $223.00 target price on shares of Home Depot in a research note on Monday, February 5th. Finally, Zacks Investment Research upgraded Home Depot from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $192.12.
Home Depot (NYSE:HD) traded down $1.17 during trading on Monday, hitting $185.54. The stock had a trading volume of 4,817,022 shares, compared to its average volume of 5,425,808. The stock has a market cap of $214,410.00, a PE ratio of 25.07, a P/E/G ratio of 1.36 and a beta of 1.08. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. Home Depot has a 12 month low of $143.97 and a 12 month high of $207.60.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB increased its holdings in shares of Home Depot by 5.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 221,579 shares of the home improvement retailer’s stock valued at $41,996,000 after purchasing an additional 12,316 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Home Depot by 15.7% during the fourth quarter. Handelsbanken Fonder AB now owns 405,404 shares of the home improvement retailer’s stock valued at $76,836,000 after purchasing an additional 55,000 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Home Depot by 3.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 250,745 shares of the home improvement retailer’s stock valued at $47,524,000 after purchasing an additional 7,790 shares during the period. CNB Bank acquired a new position in shares of Home Depot during the fourth quarter valued at $1,238,000. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Home Depot during the fourth quarter valued at $389,000. 70.36% of the stock is currently owned by hedge funds and other institutional investors.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value 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 $5,410,183.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.
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 given a $1.03 dividend. The ex-dividend date is Wednesday, March 7th. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is currently 48.11%.
Home Depot declared that its board has initiated a share repurchase program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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