The Home Depot (NYSE:HD) – Equities researchers at Gabelli issued their FY2023 earnings per share (EPS) estimates for The Home Depot in a research note issued to investors on Wednesday, April 11th. Gabelli analyst A. Lacayo forecasts that the home improvement retailer will earn $13.15 per share for the year. Gabelli has a “Buy” rating and a $206.00 price target on the stock.
A number of other research firms have also weighed in on HD. BMO Capital Markets lifted their price objective on The Home Depot from $191.00 to $213.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Jefferies Group reiterated a “buy” rating and set a $223.00 price objective on shares of The Home Depot in a research note on Monday, February 5th. Morgan Stanley set a $210.00 price objective on The Home Depot and gave the company a “buy” rating in a research note on Wednesday, March 21st. Zacks Investment Research upgraded The Home Depot from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Tuesday, February 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $217.00 price objective (down previously from $220.00) on shares of The Home Depot in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The Home Depot currently has an average rating of “Buy” and a consensus price target of $194.45.
The Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.07. The Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The company had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $23.65 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were issued a dividend of $1.03 per share. This is a boost from The Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, March 7th. The Home Depot’s payout ratio is currently 55.23%.
In related news, Director Armando M. Codina bought 6,650 shares of the stock in a transaction dated Friday, March 2nd. The shares were acquired at an average cost of $178.66 per share, for a total transaction of $1,188,089.00. Following the acquisition, the director now directly owns 42,300 shares in the company, valued at approximately $7,557,318. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory D. Brenneman bought 16,827 shares of the stock in a transaction dated Wednesday, March 21st. The shares were bought at an average price of $178.29 per share, for a total transaction of $3,000,085.83. Following the completion of the acquisition, the director now owns 46,332 shares in the company, valued at $8,260,532.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 169,027 shares of company stock worth $31,220,882. Insiders own 0.25% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Ford Financial Group Inc. acquired a new position in The Home Depot in the fourth quarter valued at approximately $108,000. Earnest Partners LLC acquired a new position in The Home Depot in the fourth quarter valued at approximately $108,000. Jacobi Capital Management LLC lifted its holdings in The 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 acquiring an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in The Home Depot in the fourth quarter valued at approximately $112,000. Finally, Denali Advisors LLC acquired a new position in The Home Depot in the fourth quarter valued at approximately $133,000. Institutional investors and hedge funds own 70.69% of the company’s stock.
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The 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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