Home Depot Inc (NYSE:HD) – Equities research analysts at Piper Jaffray Companies dropped their Q1 2020 earnings estimates for Home Depot in a research report issued on Thursday, May 16th. Piper Jaffray Companies analyst P. Keith now forecasts that the home improvement retailer will post earnings of $2.17 per share for the quarter, down from their prior estimate of $2.21. Piper Jaffray Companies also issued estimates for Home Depot’s Q2 2020 earnings at $3.10 EPS, Q1 2021 earnings at $2.39 EPS, Q2 2021 earnings at $3.39 EPS and Q4 2021 earnings at $2.42 EPS.
Several other equities analysts have also commented on HD. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Credit Suisse Group set a $194.00 target price on shares of Home Depot and gave the stock a “hold” rating in a report on Tuesday, February 26th. Telsey Advisory Group lowered shares of Home Depot from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $205.00 to $192.00 in a report on Wednesday, February 27th. Deutsche Bank increased their target price on shares of Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, Wedbush reduced their target price on shares of Home Depot from $190.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $204.71.
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, topping 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 for the quarter, compared to analyst estimates of $26.57 billion. During the same period in the prior year, the business posted $1.69 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year.
Home Depot declared that its board has approved a share buyback plan on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to purchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of the 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 sale, the executive vice president now directly owns 86,813 shares of the company’s stock, valued at approximately $15,880,702.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 5,450 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the completion of the sale, the executive vice president now directly owns 51,030 shares in the company, valued at $9,423,710.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,194 shares of company stock worth $7,553,141. 0.27% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Portfolio Solutions LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $26,000. Julex Capital Management LLC purchased a new position in shares of Home Depot in the 1st quarter valued at $27,000. Ellevest Inc. purchased a new position in shares of Home Depot in the 1st quarter valued at $28,000. Nalls Sherbakoff Group LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $30,000. Finally, Cordasco Financial Network purchased a new position in shares of Home Depot in the 1st quarter valued at $31,000. 70.93% of the stock is currently owned by institutional investors.
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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