Brokerages expect that Home Depot Inc (NYSE:HD) will post sales of $23.67 billion for the current quarter, according to Zacks. Eleven analysts have issued estimates for Home Depot’s earnings. The highest sales estimate is $23.87 billion and the lowest is $23.47 billion. Home Depot reported sales of $22.21 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The company is expected to announce its next earnings results before the market opens on Tuesday, February 20th.
On average, analysts expect that Home Depot will report full-year sales of $23.67 billion for the current financial year, with estimates ranging from $99.94 billion to $100.81 billion. For the next year, analysts forecast that the business will report sales of $107.03 billion per share, with estimates ranging from $104.12 billion to $108.78 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Home Depot.
A number of equities research analysts have recently commented on the company. Robert W. Baird restated an “outperform” rating and set a $195.00 target price on shares of Home Depot in a research report on Thursday, November 30th. SunTrust Banks raised their target price on Home Depot to $167.00 and gave the company a “hold” rating in a research report on Wednesday, November 15th. Telsey Advisory Group raised their target price on Home Depot from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. Jefferies Group restated a “buy” rating and set a $223.00 target price on shares of Home Depot in a research report on Monday, February 5th. Finally, Citigroup lifted their price objective on Home Depot from $179.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Home Depot currently has an average rating of “Buy” and an average price target of $190.32.
Home Depot declared that its board has authorized a share buyback program 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 purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s dividend payout ratio (DPR) is 49.44%.
In other news, EVP Matt Carey sold 41,396 shares of Home Depot stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction 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 can be accessed through this link. Company insiders own 0.26% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its position in Home Depot by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after purchasing an additional 101 shares during the period. Ford Financial Group Inc. purchased a new stake in Home Depot in the fourth quarter valued at approximately $108,000. Earnest Partners LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $108,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Home Depot in the fourth quarter valued at approximately $112,000. Finally, Denali Advisors LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $133,000. 70.36% of the stock is currently owned by hedge funds and other institutional investors.
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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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