The Home Depot Expected to Post FY2023 Earnings of $14.13 Per Share (HD)

The Home Depot (NYSE:HD) – Research analysts at Jefferies Group boosted their FY2023 EPS estimates for The Home Depot in a report released on Tuesday, May 15th. Jefferies Group analyst D. Binder now expects that the home improvement retailer will earn $14.13 per share for the year, up from their prior forecast of $14.05. Jefferies Group has a “Buy” rating and a $223.00 price target on the stock.

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A number of other research firms have also recently issued reports on HD. Credit Suisse Group lifted their price target on shares of The Home Depot from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus lifted their price target on shares of The Home Depot from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Zacks Investment Research raised shares of The Home Depot from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Tuesday, February 6th. Bank of America reissued a “buy” rating and issued a $190.60 price target (down previously from $219.00) on shares of The Home Depot in a research note on Tuesday, February 20th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $217.00 price target (down previously from $220.00) on shares of The Home Depot in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $195.95.

The Home Depot opened at $187.42 on Friday, Marketbeat.com reports. The company has a quick ratio of 0.38, a current ratio of 1.17 and a debt-to-equity ratio of 14.37. The company has a market cap of $216.42 billion, a PE ratio of 25.12, a PEG ratio of 1.38 and a beta of 1.14. The Home Depot has a 1-year low of $144.25 and a 1-year high of $207.60.

The Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 15th. The home improvement retailer reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.03. The firm had revenue of $24.95 billion during the quarter, compared to analyst estimates of $25.17 billion. The Home Depot had a net margin of 8.85% and a return on equity of 399.15%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS.

Several hedge funds have recently made changes to their positions in HD. BlackRock Inc. raised its holdings in The Home Depot by 0.8% in the 1st quarter. BlackRock Inc. now owns 72,237,480 shares of the home improvement retailer’s stock valued at $12,875,610,000 after buying an additional 604,634 shares during the period. Geode Capital Management LLC raised its holdings in The Home Depot by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock valued at $2,207,871,000 after buying an additional 259,863 shares during the period. Jennison Associates LLC raised its holdings in The Home Depot by 65.4% in the 4th quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock valued at $1,559,421,000 after buying an additional 3,254,382 shares during the period. Clearbridge Investments LLC raised its holdings in The Home Depot by 1.4% in the 4th quarter. Clearbridge Investments LLC now owns 8,180,356 shares of the home improvement retailer’s stock valued at $1,550,423,000 after buying an additional 115,794 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in The Home Depot by 3.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,415,134 shares of the home improvement retailer’s stock valued at $1,143,434,000 after buying an additional 230,769 shares during the period. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Armando M. Codina purchased 6,650 shares of the stock in a transaction dated Friday, March 2nd. The shares were purchased at an average price of $178.66 per share, with a total value of $1,188,089.00. Following the transaction, the director now owns 42,300 shares in the company, valued at approximately $7,557,318. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig A. Menear sold 113,687 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total transaction of $20,894,533.73. Following the transaction, the chief executive officer now directly owns 237,957 shares in the company, valued at approximately $43,734,117.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 214,576 shares of company stock worth $39,731,257. Corporate insiders own 0.25% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 31st will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $4.12 annualized dividend and a dividend yield of 2.20%. The Home Depot’s payout ratio is 55.23%.

The Home Depot Company Profile

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Earnings History and Estimates for The Home Depot (NYSE:HD)