Home Depot Inc (NYSE:HD) – Investment analysts at Wedbush issued their Q1 2019 EPS estimates for shares of Home Depot in a report released on Wednesday. Wedbush analyst S. Basham forecasts that the home improvement retailer will post earnings per share of $2.06 for the quarter. Wedbush has a “Hold” rating and a $190.00 price objective on the stock. Wedbush also issued estimates for Home Depot’s Q2 2019 earnings at $2.80 EPS, Q3 2019 earnings at $2.27 EPS and Q4 2019 earnings at $2.25 EPS.
A number of other equities analysts have also issued reports on HD. BMO Capital Markets raised their price target on Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a report on Thursday. Telsey Advisory Group reissued an “outperform” rating and set a $217.00 price target (down previously from $220.00) on shares of Home Depot in a report on Wednesday. SunTrust Banks raised their price target on Home Depot to $187.00 and gave the stock a “hold” rating in a report on Thursday. Zacks Investment Research lowered Home Depot from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Argus restated a “buy” rating and issued a $215.00 price objective (up previously from $190.00) on shares of Home Depot in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $193.38.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The firm had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. During the same quarter last year, the company posted $1.44 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis.
Institutional investors and hedge funds have recently modified their holdings of the company. Jacobi Capital Management LLC grew its stake 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 acquiring an additional 101 shares during the period. Ford Financial Group Inc. purchased a new stake in Home Depot in the 4th quarter worth approximately $108,000. Earnest Partners LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $108,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Home Depot in the 4th quarter worth approximately $112,000. Finally, Denali Advisors LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $133,000. 70.36% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Matt Carey sold 41,396 shares of Home Depot stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now directly owns 29,559 shares in the company, valued at approximately $5,410,183.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be given 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 an increase from Home Depot’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Wednesday, March 7th. Home Depot’s dividend payout ratio (DPR) is presently 48.11%.
Home Depot announced that its board has approved a stock buyback program on Wednesday, December 6th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board 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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