Home Depot (HD) to Release Quarterly Earnings on Tuesday

Home Depot (NYSE:HD) is scheduled to be releasing its earnings data before the market opens on Tuesday, May 14th. Analysts expect Home Depot to post earnings of $3.60 per share for the quarter. Home Depot has set its FY 2024 guidance at 15.260-15.260 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same quarter last year, the business posted $3.30 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, analysts expect Home Depot to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Home Depot Price Performance

NYSE:HD opened at $342.28 on Tuesday. The firm has a market capitalization of $339.21 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The business has a 50 day simple moving average of $361.16 and a 200-day simple moving average of $343.16. Home Depot has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.63%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s payout ratio is presently 59.60%.

Wall Street Analyst Weigh In

Several analysts have issued reports on HD shares. Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Bank of America raised their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Wedbush upped their price objective on Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Citigroup boosted their price objective on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus raised their target price on shares of Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.96.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.