Home Depot (NYSE:HD – Get Rating) had its target price cut by Wedbush from $300.00 to $290.00 in a research report report published on Wednesday morning, The Fly reports. Wedbush also issued estimates for Home Depot’s Q2 2024 earnings at $4.37 EPS, Q3 2024 earnings at $3.74 EPS, Q4 2024 earnings at $2.82 EPS, FY2024 earnings at $14.76 EPS, FY2025 earnings at $15.84 EPS and FY2026 earnings at $16.91 EPS.
A number of other brokerages have also commented on HD. Citigroup cut their price target on Home Depot from $332.00 to $327.00 in a report on Wednesday, May 10th. Sanford C. Bernstein cut their price target on Home Depot from $333.00 to $314.00 in a report on Wednesday. Piper Sandler cut their price target on Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Bank of America lowered their price objective on Home Depot from $360.00 to $346.00 in a research report on Wednesday, February 22nd. Finally, UBS Group lowered their price objective on Home Depot from $350.00 to $340.00 and set a buy rating on the stock in a research report on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $323.25.
Home Depot Stock Down 1.5 %
HD opened at $290.88 on Wednesday. Home Depot has a twelve month low of $264.51 and a twelve month high of $347.25. The firm has a market cap of $294.57 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The business has a 50 day moving average price of $290.67 and a 200 day moving average price of $306.12. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.33 and a current ratio of 1.27.
Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The company had revenue of $37.26 billion during the quarter, compared to analyst estimates of $38.35 billion. During the same period in the previous year, the company earned $4.09 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts forecast that Home Depot will post 15.01 EPS for the current year.
Home Depot Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Wednesday, May 31st. Home Depot’s payout ratio is presently 50.94%.
Insider Activity
In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total transaction of $440,221.18. Following the transaction, the executive vice president now owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Home Depot
Several large investors have recently made changes to their positions in HD. Slow Capital Inc. acquired a new position in Home Depot in the first quarter valued at about $25,000. Kalos Management Inc. acquired a new position in Home Depot in the first quarter valued at about $26,000. Fairfield Bush & CO. acquired a new position in Home Depot in the first quarter valued at about $27,000. Glassy Mountain Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at about $30,000. Finally, KB Financial Partners LLC acquired a new position in Home Depot in the first quarter valued at about $28,000. Institutional investors and hedge funds own 68.31% of the company’s stock.
Home Depot Company Profile
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
Further Reading
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