Wall Street analysts predict that Home Depot Inc (NYSE:HD) will report sales of $25.37 billion for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Home Depot’s earnings, with the highest sales estimate coming in at $25.65 billion and the lowest estimate coming in at $25.07 billion. Home Depot reported sales of $23.89 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 15th.
According to Zacks, analysts expect that Home Depot will report full year sales of $25.37 billion for the current year, with estimates ranging from $107.44 billion to $108.78 billion. For the next fiscal year, analysts expect that the firm will post sales of $111.88 billion per share, with estimates ranging from $110.79 billion to $113.30 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Home Depot.
Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.07. The company had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS.
In other news, Director Armando M. Codina bought 6,650 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was bought at an average cost of $178.66 per share, with a total value of $1,188,089.00. Following the transaction, the director now directly owns 42,300 shares in the company, valued at approximately $7,557,318. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig A. Menear sold 113,687 shares of Home Depot stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total value of $20,894,533.73. Following the completion of the transaction, the chief executive officer now directly owns 237,957 shares of the company’s stock, valued at $43,734,117.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,027 shares of company stock worth $31,220,882. 0.26% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Garde Capital Inc. grew its position in shares of Home Depot by 23.1% during the fourth quarter. Garde Capital Inc. now owns 1,866 shares of the home improvement retailer’s stock worth $354,000 after buying an additional 350 shares in the last quarter. Chemical Bank grew its position in shares of Home Depot by 4.9% during the fourth quarter. Chemical Bank now owns 33,120 shares of the home improvement retailer’s stock worth $6,277,000 after buying an additional 1,537 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Home Depot by 15.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 143,311 shares of the home improvement retailer’s stock worth $27,162,000 after buying an additional 18,968 shares in the last quarter. Certified Advisory Corp acquired a new position in shares of Home Depot during the fourth quarter worth about $747,000. Finally, Ackerman Capital Advisors LLC acquired a new position in shares of Home Depot during the fourth quarter worth about $233,000. 70.63% of the stock is owned by institutional investors.
Shares of Home Depot (NYSE:HD) traded down $1.36 during mid-day trading on Thursday, reaching $178.35. The company’s stock had a trading volume of 6,127,315 shares, compared to its average volume of 6,100,000. The company has a quick ratio of 0.38, a current ratio of 1.17 and a debt-to-equity ratio of 16.69. The stock has a market cap of $208,270.00, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.40 and a beta of 1.14. Home Depot has a 12 month low of $144.25 and a 12 month high of $207.60.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be issued a $1.03 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, March 7th. Home Depot’s payout ratio is 55.68%.
Home Depot announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Home Depot Company Profile
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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