Brokers Issue Forecasts for Home Depot Inc’s FY2020 Earnings (HD)
Home Depot Inc (NYSE:HD) – Equities research analysts at Gabelli decreased their FY2020 earnings estimates for shares of Home Depot in a research note issued on Wednesday, May 22nd. Gabelli analyst A. Lacayo now forecasts that the home improvement retailer will post earnings per share of $10.10 for the year, down from their prior forecast of $10.15.
Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.10. The company had revenue of $26.38 billion for the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a negative return on equity of 6,597.69% and a net margin of 10.24%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS.
NYSE HD opened at $193.59 on Thursday. Home Depot has a 52 week low of $158.09 and a 52 week high of $215.43. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.04. The firm has a market cap of $208.54 billion, a PE ratio of 19.57, a P/E/G ratio of 1.62 and a beta of 1.09.
Large investors have recently modified their holdings of the stock. Julex Capital Management LLC acquired a new position in Home Depot in the 1st quarter valued at about $27,000. Ellevest Inc. acquired a new position in Home Depot in the 1st quarter valued at about $28,000. Portfolio Solutions LLC acquired a new position in Home Depot in the 4th quarter valued at about $26,000. Cordasco Financial Network acquired a new position in Home Depot in the 1st quarter valued at about $31,000. Finally, Nalls Sherbakoff Group LLC acquired a new position in Home Depot in the 4th quarter valued at about $30,000. 69.31% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Mark Holifield sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the completion of the sale, the executive vice president now directly owns 39,794 shares of the company’s stock, valued at approximately $7,306,178.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 5,450 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total value of $1,006,451.50. Following the sale, the executive vice president now directly owns 51,030 shares of the company’s stock, valued at $9,423,710.10. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock valued at $7,553,141 over the last three months. Corporate insiders own 0.27% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, June 5th. Home Depot’s payout ratio is 55.01%.
Home Depot declared that its board has authorized a stock repurchase plan on Tuesday, February 26th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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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