Wedbush Analysts Reduce Earnings Estimates for Home Depot Inc (HD)

Home Depot Inc (NYSE:HD) – Stock analysts at Wedbush decreased their FY2019 EPS estimates for Home Depot in a research report issued to clients and investors on Monday, October 15th. Wedbush analyst S. Basham now expects that the home improvement retailer will earn $9.44 per share for the year, down from their previous forecast of $9.45. Wedbush also issued estimates for Home Depot’s FY2020 earnings at $10.11 EPS and FY2021 earnings at $10.76 EPS.

A number of other research analysts have also commented on HD. ValuEngine upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. UBS Group raised their price objective on shares of Home Depot from $212.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, June 20th. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $228.00 price objective on the stock in a research note on Friday, October 5th. Morgan Stanley raised their price objective on shares of Home Depot from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Finally, Loop Capital set a $200.00 price objective on shares of Home Depot and gave the company a “hold” rating in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $207.40.

NYSE HD opened at $193.58 on Wednesday. Home Depot has a 12 month low of $160.53 and a 12 month high of $215.43. The company has a current ratio of 1.13, a quick ratio of 0.37 and a debt-to-equity ratio of 11.60. The company has a market cap of $237.01 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.63 and a beta of 1.11.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 14th. The home improvement retailer reported $3.05 EPS for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.21. Home Depot had a net margin of 9.45% and a return on equity of 522.68%. The business had revenue of $30.46 billion for the quarter, compared to analyst estimates of $30.04 billion. During the same quarter last year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.

In other Home Depot news, EVP Matt Carey sold 4,125 shares of Home Depot stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $195.43, for a total value of $806,148.75. Following the transaction, the executive vice president now owns 60,179 shares in the company, valued at $11,760,781.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William G. Lennie sold 10,854 shares of Home Depot stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the completion of the transaction, the executive vice president now owns 40,057 shares in the company, valued at approximately $8,077,093.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Trail Advisors LLC boosted its stake in shares of Home Depot by 17,627.8% during the 1st quarter. Summit Trail Advisors LLC now owns 2,233,171 shares of the home improvement retailer’s stock valued at $2,233,000 after buying an additional 2,220,574 shares during the period. Senator Investment Group LP acquired a new stake in shares of Home Depot during the 2nd quarter valued at $234,120,000. Morgan Stanley boosted its stake in shares of Home Depot by 11.4% during the 2nd quarter. Morgan Stanley now owns 9,687,271 shares of the home improvement retailer’s stock valued at $1,889,985,000 after buying an additional 991,466 shares during the period. Bank of Montreal Can boosted its stake in shares of Home Depot by 29.3% during the 3rd quarter. Bank of Montreal Can now owns 2,857,124 shares of the home improvement retailer’s stock valued at $591,853,000 after buying an additional 648,046 shares during the period. Finally, Natixis boosted its stake in shares of Home Depot by 153.0% during the 1st quarter. Natixis now owns 1,064,144 shares of the home improvement retailer’s stock valued at $189,673,000 after buying an additional 643,600 shares during the period. Hedge funds and other institutional investors own 69.01% 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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