$30.97 Billion in Sales Expected for Home Depot Inc (NYSE:HD) This Quarter

Wall Street analysts predict that Home Depot Inc (NYSE:HD) will report sales of $30.97 billion for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Home Depot’s earnings, with the lowest sales estimate coming in at $30.54 billion and the highest estimate coming in at $31.44 billion. Home Depot posted sales of $30.46 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The business is expected to announce its next quarterly earnings report on Tuesday, August 13th.

On average, analysts expect that Home Depot will report full year sales of $111.28 billion for the current fiscal year, with estimates ranging from $110.50 billion to $111.75 billion. For the next fiscal year, analysts anticipate that the company will post sales of $115.69 billion, with estimates ranging from $113.52 billion to $116.70 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Home Depot.

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

A number of equities research analysts recently commented on HD shares. Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Wedbush set a $190.00 price target on Home Depot and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Morgan Stanley increased their price target on Home Depot from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Co increased their price target on Home Depot from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada lowered their price target on Home Depot from $223.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $205.29.

NYSE HD opened at $207.97 on Friday. The stock has a market cap of $229.19 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.91 and a beta of 1.11. The company has a fifty day moving average of $197.77. Home Depot has a 12 month low of $158.09 and a 12 month high of $215.43. The company has a debt-to-equity ratio of 17.68, a current ratio of 1.04 and a quick ratio of 0.26.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $1.36 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $5.44 dividend on an annualized basis and a yield of 2.62%. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.

In other Home Depot news, CFO Carol B. Tome sold 26,334 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 519,253 shares in the company, valued at approximately $98,227,090.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $7,010,097.92. Following the completion of the transaction, 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. Insiders sold a total of 82,522 shares of company stock valued at $16,156,831 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Large investors have recently made changes to their positions in the business. Virtus ETF Advisers LLC bought a new position in shares of Home Depot during the 4th quarter worth $32,000. Thor Advisors LLC bought a new position in shares of Home Depot during the 1st quarter worth $32,000. Enlightenment Research LLC bought a new position in shares of Home Depot during the 4th quarter worth $34,000. Private Ocean LLC grew its stake in shares of Home Depot by 53.3% during the 4th quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 72 shares during the period. Finally, Ironwood Financial llc grew its stake in shares of Home Depot by 39.5% during the 4th quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock worth $49,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 69.34% of the company’s stock.

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

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