Jefferies Financial Group Equities Analysts Lower Earnings Estimates for Home Depot Inc (HD)

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Home Depot Inc (NYSE:HD) – Investment analysts at Jefferies Financial Group cut their Q2 2020 earnings per share estimates for shares of Home Depot in a research note issued on Tuesday, May 21st. Jefferies Financial Group analyst J. Matuszewski now anticipates that the home improvement retailer will post earnings of $2.97 per share for the quarter, down from their prior estimate of $3.17. Jefferies Financial Group also issued estimates for Home Depot’s Q4 2020 earnings at $2.22 EPS, FY2020 earnings at $10.04 EPS and FY2021 earnings at $10.75 EPS.

Other equities research analysts have also issued reports about the stock. Citigroup decreased their target price on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Deutsche Bank boosted their target price on shares of Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Royal Bank of Canada decreased their target price on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus boosted their target price on shares of Home Depot from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $205.29.

Shares of NYSE HD opened at $192.00 on Thursday. The firm has a market cap of $208.54 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.62 and a beta of 1.09. Home Depot has a one year low of $158.09 and a one year high of $215.43. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.04.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 EPS for the quarter, topping the consensus estimate of $2.17 by $0.10. The company had revenue of $26.38 billion for the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 EPS.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.83%. Home Depot’s payout ratio is currently 55.01%.

Home Depot declared that its board has approved a stock buyback plan on Tuesday, February 26th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, EVP Mark Holifield sold 12,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the completion of the sale, the executive vice president now owns 39,794 shares in the company, valued at approximately $7,306,178.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward P. Decker sold 23,744 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value of $4,343,489.92. Following the sale, the executive vice president now owns 86,813 shares of the company’s stock, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock valued at $7,553,141 in the last quarter. Company insiders own 0.27% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cincinnati Financial Corp boosted its stake in shares of Home Depot by 7.4% during the 3rd quarter. Cincinnati Financial Corp now owns 362,554 shares of the home improvement retailer’s stock valued at $75,103,000 after buying an additional 25,000 shares during the last quarter. Paradigm Financial Advisors LLC purchased a new position in shares of Home Depot during the 3rd quarter valued at approximately $200,000. QCI Asset Management Inc. NY boosted its stake in shares of Home Depot by 2.3% during the 3rd quarter. QCI Asset Management Inc. NY now owns 73,901 shares of the home improvement retailer’s stock valued at $15,309,000 after buying an additional 1,658 shares during the last quarter. MV Capital Management Inc. boosted its stake in shares of Home Depot by 38.1% during the 3rd quarter. MV Capital Management Inc. now owns 1,609 shares of the home improvement retailer’s stock valued at $333,000 after buying an additional 444 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Home Depot by 1.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 456,611 shares of the home improvement retailer’s stock valued at $94,587,000 after buying an additional 5,141 shares during the last quarter. Hedge funds and other institutional investors own 69.31% of the company’s stock.

About Home Depot

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Earnings History and Estimates for Home Depot (NYSE:HD)

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