Equities Analysts Lift Earnings Estimates for Home Depot Inc (NYSE:HD)

Equities Analysts Lift Earnings Estimates for Home Depot Inc (NYSE:HD)

Home Depot Inc (NYSE:HD) – Equities research analysts at Jefferies Financial Group lifted their Q2 2020 earnings estimates for shares of Home Depot in a research report issued to clients and investors on Thursday, July 11th, Zacks Investment Research reports. Jefferies Financial Group analyst J. Matuszewski now anticipates that the home improvement retailer will post earnings per share of $3.01 for the quarter, up from their prior forecast of $2.97. Jefferies Financial Group also issued estimates for Home Depot’s FY2020 earnings at $10.08 EPS and FY2021 earnings at $10.79 EPS.

Several other research analysts have also commented on HD. 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. Morgan Stanley lifted their target price on Home Depot from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Goldman Sachs Group started coverage on Home Depot in a research report on Thursday, July 11th. They set a “buy” rating and a $235.00 target price for the company. Royal Bank of Canada decreased their target price on Home Depot from $223.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, ValuEngine downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $207.78.

NYSE HD traded up $3.86 on Monday, hitting $208.80. 3,272,872 shares of the stock were exchanged, compared to its average volume of 4,128,318. The business has a fifty day moving average price of $212.07. The stock has a market capitalization of $233.43 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.95 and a beta of 1.12. Home Depot has a 52-week low of $158.09 and a 52-week high of $219.30.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $2.27 EPS for the quarter, topping the consensus estimate of $2.17 by $0.10. The company had revenue of $26.38 billion during the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. Home Depot’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 earnings per share.

In related news, EVP Teresa Wynn Roseborough sold 8,500 shares of Home Depot stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $194.38, for a total value of $1,652,230.00. Following the completion of the sale, the executive vice president now directly owns 13,357 shares in the company, valued at $2,596,333.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Carey sold 34,688 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $202.09, for a total transaction of $7,010,097.92. Following the completion of the transaction, the executive vice president now owns 81,982 shares of the company’s stock, valued at $16,567,742.38. The disclosure for this sale can be found here. Insiders sold 82,522 shares of company stock valued at $16,156,831 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in HD. Evolution Wealth Advisors LLC bought a new position in Home Depot in the second quarter worth about $31,000. Virtus ETF Advisers LLC bought a new position in Home Depot in the fourth quarter worth about $32,000. Thor Advisors LLC bought a new position in Home Depot in the first quarter worth about $32,000. Enlightenment Research LLC bought a new position in Home Depot in the fourth quarter worth about $34,000. Finally, MRA Associates USA LLC bought a new position in Home Depot in the second quarter worth about $34,000. Institutional investors and hedge funds own 69.74% of the company’s stock.

About Home Depot

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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