Home Depot Inc (NYSE:HD) – Analysts at Oppenheimer decreased their Q3 2020 EPS estimates for shares of Home Depot in a research note issued to investors on Tuesday, May 21st, Zacks Investment Research reports. Oppenheimer analyst B. Nagel now anticipates that the home improvement retailer will post earnings per share of $2.56 for the quarter, down from their prior forecast of $2.57. Oppenheimer also issued estimates for Home Depot’s Q4 2020 earnings at $2.26 EPS.
HD has been the topic of a number of other research reports. DZ Bank cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Credit Suisse Group set a $194.00 price objective on Home Depot and gave the company a “hold” rating in a report on Tuesday, February 26th. Telsey Advisory Group lowered Home Depot from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $205.00 to $192.00 in a report on Wednesday, February 27th. Deutsche Bank lifted their target price on Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Finally, Morgan Stanley boosted their price objective on Home Depot from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $205.29.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.10. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The firm had revenue of $26.38 billion for the quarter, compared to analysts’ expectations of $26.34 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis.
Hedge funds have recently modified their holdings of the business. American Financial Advisors LLC lifted its holdings in Home Depot by 0.8% in the first quarter. American Financial Advisors LLC now owns 6,124 shares of the home improvement retailer’s stock valued at $1,175,000 after buying an additional 49 shares during the period. Indiana Trust & Investment Management CO grew its position in shares of Home Depot by 1.8% during the 1st quarter. Indiana Trust & Investment Management CO now owns 2,844 shares of the home improvement retailer’s stock valued at $546,000 after acquiring an additional 50 shares during the period. Excalibur Management Corp grew its position in shares of Home Depot by 1.6% during the 1st quarter. Excalibur Management Corp now owns 3,232 shares of the home improvement retailer’s stock valued at $620,000 after acquiring an additional 50 shares during the period. Granite Investment Advisors LLC grew its position in shares of Home Depot by 0.3% during the 1st quarter. Granite Investment Advisors LLC now owns 16,138 shares of the home improvement retailer’s stock valued at $3,097,000 after acquiring an additional 50 shares during the period. Finally, Wedgewood Investors Inc. PA grew its position in shares of Home Depot by 1.0% during the 1st quarter. Wedgewood Investors Inc. PA now owns 5,409 shares of the home improvement retailer’s stock valued at $1,038,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 69.43% of the company’s stock.
In other news, CFO Carol B. Tome sold 26,334 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $189.17, for a total value of $4,981,602.78. Following the transaction, the chief financial officer now owns 519,253 shares of the company’s stock, valued at approximately $98,227,090.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matt Carey sold 34,688 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $202.09, for a total transaction of $7,010,097.92. Following the completion of the sale, the executive vice president now owns 81,982 shares of the company’s stock, valued at approximately $16,567,742.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,522 shares of company stock valued at $16,156,831. Insiders own 0.27% of the company’s stock.
Home Depot announced that its board has initiated a stock buyback program on Tuesday, February 26th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $5.44 dividend on an annualized basis and a yield of 2.64%. Home Depot’s payout ratio is 55.01%.
Home Depot Company Profile
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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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