Analysts Anticipate The Home Depot, Inc. (NYSE:HD) Will Post Earnings of $4.94 Per Share

Posted by on May 23rd, 2022

Wall Street analysts expect that The Home Depot, Inc. (NYSE:HD – Get Rating) will report $4.94 earnings per share for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Home Depot’s earnings. The highest EPS estimate is $5.07 and the lowest is $4.76. Home Depot reported earnings per share of $4.53 in the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Home Depot will report full year earnings of $16.47 per share for the current fiscal year, with EPS estimates ranging from $15.81 to $16.83. For the next year, analysts forecast that the firm will report earnings of $17.49 per share, with EPS estimates ranging from $16.92 to $18.10. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Home Depot.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, beating the consensus estimate of $3.68 by $0.41. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.16%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $36.78 billion. During the same period in the prior year, the company posted $3.86 earnings per share. Home Depot’s revenue was up 3.8% compared to the same quarter last year.

A number of research analysts have recently commented on HD shares. Gordon Haskett cut shares of Home Depot from a “buy” rating to an “accumulate” rating in a report on Friday, May 6th. Evercore ISI reduced their price objective on shares of Home Depot from $370.00 to $345.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial reduced their price objective on shares of Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a research report on Wednesday. Telsey Advisory Group reduced their price target on shares of Home Depot from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Wednesday, February 23rd. Finally, Guggenheim reduced their price target on shares of Home Depot from $400.00 to $350.00 and set a “na” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Home Depot has a consensus rating of “Buy” and an average target price of $373.27.

In other Home Depot news, EVP Hector A. Padilla sold 136 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $289.23, for a total value of $39,335.28. Following the completion of the sale, the executive vice president now owns 11,230 shares in the company, valued at $3,248,052.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hector A. Padilla sold 504 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $309.80, for a total value of $156,139.20. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Home Depot in the fourth quarter worth $4,325,629,000. Renaissance Technologies LLC purchased a new stake in shares of Home Depot in the first quarter worth $563,524,000. Parnassus Investments LLC purchased a new stake in shares of Home Depot in the first quarter worth $542,084,000. Charles Schwab Investment Management Inc. boosted its position in shares of Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after buying an additional 1,361,660 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at $440,559,000. Institutional investors own 70.61% of the company’s stock.

Home Depot stock traded down $0.57 during trading hours on Friday, reaching $287.19. 5,621,770 shares of the stock were exchanged, compared to its average volume of 4,841,342. The company has a market cap of $296.77 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97. The company has a current ratio of 1.11, a quick ratio of 0.24 and a debt-to-equity ratio of 35.47. Home Depot has a twelve month low of $279.59 and a twelve month high of $420.61. The stock has a 50 day moving average of $307.28 and a two-hundred day moving average of $350.39.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.65%. The ex-dividend date is Wednesday, June 1st. Home Depot’s dividend payout ratio is currently 48.25%.

About Home Depot (Get Rating)

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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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