Home Depot Inc (NYSE:HD) – Investment analysts at Oppenheimer decreased their Q2 2020 earnings estimates for Home Depot in a research note issued to investors on Tuesday, February 26th. Oppenheimer analyst B. Nagel now expects that the home improvement retailer will post earnings per share of $3.20 for the quarter, down from their prior estimate of $3.22. Oppenheimer also issued estimates for Home Depot’s Q3 2020 earnings at $2.57 EPS, Q4 2020 earnings at $2.27 EPS and FY2020 earnings at $10.24 EPS.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.09. Home Depot had a return on equity of 664.88% and a net margin of 10.00%. The company had revenue of $26.49 billion for the quarter, compared to analyst estimates of $26.57 billion. During the same period in the prior year, the company posted $1.69 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year.
HD has been the topic of several other reports. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Monday, December 31st. Telsey Advisory Group lowered Home Depot from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $205.00 to $192.00 in a research report on Wednesday. Credit Suisse Group set a $194.00 target price on Home Depot and gave the company a “hold” rating in a research report on Tuesday. Bank of America lowered Home Depot from a “buy” rating to a “neutral” rating and reduced their target price for the company from $219.00 to $195.00 in a research report on Friday, November 16th. Finally, Loop Capital reduced their target price on Home Depot from $200.00 to $180.00 and set a “hold” rating on the stock in a research report on Tuesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $203.41.
Shares of NYSE:HD opened at $185.14 on Thursday. Home Depot has a 1 year low of $158.09 and a 1 year high of $215.43. The stock has a market cap 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. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68.
A number of institutional investors have recently bought and sold shares of the business. Portfolio Solutions LLC purchased a new stake in shares of Home Depot in the fourth quarter worth about $26,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of Home Depot in the fourth quarter worth about $30,000. Virtus ETF Advisers LLC purchased a new stake in shares of Home Depot in the fourth quarter worth about $32,000. Enlightenment Research LLC purchased a new stake in shares of Home Depot in the fourth quarter worth about $34,000. Finally, Private Ocean LLC boosted its stake in shares of Home Depot by 53.3% in the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 69.34% of the company’s stock.
In other Home Depot news, EVP Teresa Wynn Roseborough sold 7,203 shares of the business’s stock in a transaction dated Friday, December 7th. The stock was 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 document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.
Home Depot announced that its Board of Directors has approved a share repurchase program on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
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 paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Wednesday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s payout ratio is presently 55.23%.
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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