Home Depot Inc (NYSE:HD) – Stock analysts at Wedbush issued their FY2021 earnings per share estimates for shares of Home Depot in a report issued on Thursday. Wedbush analyst S. Basham anticipates that the home improvement retailer will post earnings of $10.38 per share for the year.
A number of other analysts have also weighed in on HD. Royal Bank of Canada set a $179.00 price objective on Home Depot and gave the company a “buy” rating in a research note on Monday, October 30th. KeyCorp began coverage on Home Depot in a research note on Tuesday, November 7th. They issued a “sector weight” rating for the company. Bank of America raised their price objective on Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Oppenheimer set a $178.00 price objective on Home Depot and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, Robert W. Baird set a $185.00 price target on Home Depot and gave the company a “buy” rating in a report on Tuesday, November 14th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Home Depot currently has an average rating of “Buy” and a consensus target price of $190.32.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. The business had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $1.60 earnings per share.
A number of large investors have recently added to or reduced their stakes in the business. Wela Strategies Inc. bought a new position in shares of Home Depot during the 2nd quarter valued at approximately $217,000. ST Germain D J Co. Inc. increased its position in shares of Home Depot by 32.3% during the 2nd quarter. ST Germain D J Co. Inc. now owns 4,424 shares of the home improvement retailer’s stock valued at $679,000 after purchasing an additional 1,079 shares during the last quarter. IPG Investment Advisors LLC increased its position in shares of Home Depot by 5.9% during the 2nd quarter. IPG Investment Advisors LLC now owns 2,595 shares of the home improvement retailer’s stock valued at $398,000 after purchasing an additional 145 shares during the last quarter. Enterprise Financial Services Corp increased its position in shares of Home Depot by 7.3% during the 2nd quarter. Enterprise Financial Services Corp now owns 3,059 shares of the home improvement retailer’s stock valued at $469,000 after purchasing an additional 209 shares during the last quarter. Finally, Foster & Motley Inc. increased its position in shares of Home Depot by 4.7% during the 2nd quarter. Foster & Motley Inc. now owns 4,518 shares of the home improvement retailer’s stock valued at $693,000 after purchasing an additional 203 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of Home Depot stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.
Home Depot declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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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