Home Depot Inc (NYSE:HD) – Wedbush raised their FY2020 earnings estimates for shares of Home Depot in a report issued on Thursday. Wedbush analyst S. Basham now forecasts that the home improvement retailer will earn $9.61 per share for the year, up from their prior estimate of $8.68.
Other analysts also recently issued reports about the company. Telsey Advisory Group boosted their price target on Home Depot from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, December 4th. Robert W. Baird restated an “outperform” rating and issued a $195.00 price target on shares of Home Depot in a research note on Thursday, November 30th. SunTrust Banks boosted their price target on Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, December 7th. Credit Suisse Group boosted their price target on Home Depot from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Bank of America boosted their price target on Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $190.34.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The company had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. During the same period in the previous year, the company posted $1.44 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s payout ratio is 49.38%.
Home Depot announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of HD. Ford Financial Group Inc. acquired a new position in Home Depot in the 4th quarter worth about $108,000. Earnest Partners LLC acquired a new position in Home Depot in the 4th quarter worth about $108,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Home Depot in the 4th quarter worth about $112,000. Denali Advisors LLC acquired a new position in Home Depot in the 4th quarter worth about $133,000. Finally, Jacobi Capital Management LLC increased its holdings in Home Depot by 16.4% in the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after purchasing an additional 101 shares in the last quarter. 70.36% of the stock is owned by institutional investors.
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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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