Home Depot (HD) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Home Depot (NYSE:HD) released its quarterly earnings data on Tuesday. The home improvement retailer reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.10, RTT News reports. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The business had revenue of $26.38 billion for the quarter, compared to analyst estimates of $26.34 billion. During the same quarter last year, the firm earned $2.08 EPS. Home Depot’s quarterly revenue was up 5.7% compared to the same quarter last year. Home Depot updated its FY 2019 guidance to $10.03-10.03 EPS and its FY20 guidance to ~$10.03 EPS.

Shares of HD opened at $188.91 on Thursday. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.04. Home Depot has a twelve month low of $158.09 and a twelve month high of $215.43. The company has a market capitalization of $211.34 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.62 and a beta of 1.09.

In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of Home Depot 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 of the company’s stock, valued at $15,880,702.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Holifield sold 12,000 shares of Home Depot stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the completion of the transaction, the executive vice president now directly owns 39,794 shares in the company, valued at approximately $7,306,178.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,194 shares of company stock worth $7,553,141. Insiders own 0.27% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Oregon Public Employees Retirement Fund lifted its stake in Home Depot by 8,331.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock valued at $125,000 after buying an additional 21,212,570 shares in the last quarter. Norges Bank bought a new stake in shares of Home Depot in the fourth quarter worth $2,053,401,000. Wellington Management Group LLP lifted its position in shares of Home Depot by 30.7% in the first quarter. Wellington Management Group LLP now owns 17,277,312 shares of the home improvement retailer’s stock worth $3,315,343,000 after purchasing an additional 4,055,289 shares in the last quarter. Capital International Investors lifted its position in shares of Home Depot by 129.2% in the third quarter. Capital International Investors now owns 7,080,765 shares of the home improvement retailer’s stock worth $1,466,780,000 after purchasing an additional 3,991,462 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Home Depot by 16.6% in the first quarter. Geode Capital Management LLC now owns 15,472,926 shares of the home improvement retailer’s stock worth $2,965,126,000 after purchasing an additional 2,201,963 shares in the last quarter. 69.31% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot declared that its Board of Directors has authorized 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 buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

HD has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Robert W. Baird reissued a “positive” rating on shares of Home Depot in a research note on Thursday, April 25th. DZ Bank lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Edward Jones raised shares of Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, Wells Fargo & Co lifted their price objective on shares of Home Depot from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $205.29.

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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 for Home Depot (NYSE:HD)

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