Home Depot Inc (HD) Expected to Post Quarterly Sales of $26.44 Billion

Equities research analysts expect that Home Depot Inc (NYSE:HD) will post sales of $26.44 billion for the current quarter, Zacks reports. Eleven analysts have provided estimates for Home Depot’s earnings, with the highest sales estimate coming in at $27.00 billion and the lowest estimate coming in at $25.70 billion. Home Depot reported sales of $24.95 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6%. The firm is expected to report its next quarterly earnings report on Tuesday, May 21st.

On average, analysts expect that Home Depot will report full year sales of $111.38 billion for the current year, with estimates ranging from $109.51 billion to $112.11 billion. For the next fiscal year, analysts expect that the company will report sales of $116.28 billion, with estimates ranging from $113.89 billion to $117.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Home Depot.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, beating the consensus estimate of $2.16 by $0.09. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. The firm had revenue of $26.49 billion during the quarter, compared to the consensus estimate of $26.57 billion. During the same period in the prior year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year.

Several equities analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of Home Depot in a research report on Wednesday, March 20th. They set an “outperform” rating and a $215.00 price target on the stock. Wedbush reduced their price target on shares of Home Depot from $190.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 27th. Deutsche Bank boosted their price target on shares of Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Bank of America set a $195.00 price target on shares of Home Depot and gave the company a “hold” rating in a research report on Monday, December 10th. Finally, Credit Suisse Group reduced their price target on shares of Home Depot from $194.00 to $192.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 27th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $204.06.

Shares of NYSE HD opened at $191.89 on Friday. Home Depot has a 1 year low of $158.09 and a 1 year high of $215.43. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.11. The stock has a market cap of $214.68 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.62 and a beta of 1.09.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s dividend payout ratio is 55.01%.

Home Depot announced that its Board of Directors has authorized a share buyback program on Tuesday, February 26th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

In other news, EVP Edward P. Decker sold 23,744 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total value of $4,343,489.92. Following the transaction, the executive vice president now owns 86,813 shares in the company, valued at $15,880,702.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 5,450 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the completion of the transaction, the executive vice president now owns 51,030 shares in the company, valued at approximately $9,423,710.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,194 shares of company stock worth $7,553,141. Corporate insiders own 0.25% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Paragon Capital Management LLC lifted its position in Home Depot by 32.3% during the fourth quarter. Paragon Capital Management LLC now owns 1,654 shares of the home improvement retailer’s stock valued at $284,000 after purchasing an additional 404 shares during the period. Pinnacle Financial Partners Inc. lifted its position in Home Depot by 13.5% during the third quarter. Pinnacle Financial Partners Inc. now owns 21,114 shares of the home improvement retailer’s stock valued at $4,374,000 after purchasing an additional 2,504 shares during the period. Prudential Financial Inc. lifted its position in Home Depot by 3.5% during the third quarter. Prudential Financial Inc. now owns 1,348,582 shares of the home improvement retailer’s stock valued at $279,359,000 after purchasing an additional 45,754 shares during the period. Sanders Morris Harris LLC lifted its position in Home Depot by 5.6% during the third quarter. Sanders Morris Harris LLC now owns 5,619 shares of the home improvement retailer’s stock valued at $1,164,000 after purchasing an additional 300 shares during the period. Finally, Private Wealth Partners LLC lifted its position in Home Depot by 2.1% during the third quarter. Private Wealth Partners LLC now owns 39,983 shares of the home improvement retailer’s stock valued at $8,282,000 after purchasing an additional 838 shares during the period. Hedge funds and other institutional investors own 69.17% of the company’s stock.

About Home Depot

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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