Home Depot (NYSE:HD) Announces Earnings Results

Home Depot (NYSE:HDGet Free Report) released its quarterly earnings data on Tuesday. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02, RTT News reports. The company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. Home Depot’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.82 EPS. Home Depot updated its FY 2024 guidance to 15.260-15.260 EPS.

Home Depot Stock Down 0.1 %

Shares of Home Depot stock traded down $0.31 during trading on Friday, hitting $342.42. 467,855 shares of the stock were exchanged, compared to its average volume of 3,356,593. The stock has a market cap of $339.35 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The firm’s 50-day moving average price is $355.47 and its 200 day moving average price is $345.73. Home Depot has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.40.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.63%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Insider Transactions at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HD. Citigroup cut their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Mizuho began coverage on shares of Home Depot in a report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price target for the company. TD Cowen cut their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Raymond James restated a “market perform” rating on shares of Home Depot in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $374.96.

View Our Latest Stock Report on HD

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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Earnings History for Home Depot (NYSE:HD)

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