Brokers Issue Forecasts for The Home Depot’s FY2023 Earnings (HD)

The Home Depot (NYSE:HD) – Investment analysts at Jefferies Group raised their FY2023 earnings per share estimates for shares of The Home Depot in a research note issued to investors on Tuesday, May 15th. Jefferies Group analyst D. Binder now forecasts that the home improvement retailer will post earnings of $14.13 per share for the year, up from their previous forecast of $14.05. Jefferies Group currently has a “Buy” rating and a $223.00 target price on the stock.

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

Other research analysts have also issued reports about the company. Credit Suisse Group set a $222.00 target price on The Home Depot and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Argus reaffirmed a “buy” rating and set a $215.00 target price (up from $190.00) on shares of The Home Depot in a research report on Wednesday, February 21st. Stifel Nicolaus reissued a “buy” rating and issued a $225.00 price objective (down from $230.00) on shares of The Home Depot in a research report on Wednesday, February 21st. Citigroup reissued a “buy” rating and issued a $219.00 price objective (up from $213.00) on shares of The Home Depot in a research report on Wednesday, February 21st. Finally, Bank of America reissued a “buy” rating and issued a $190.60 price objective (down from $219.00) on shares of The Home Depot in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $195.95.

Shares of The Home Depot opened at $185.33 on Friday, MarketBeat Ratings reports. The firm has a market cap of $217.65 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 14.37, a current ratio of 1.17 and a quick ratio of 0.38. The Home Depot has a 12-month low of $186.51 and a 12-month high of $189.07.

A number of hedge funds have recently modified their holdings of the business. Lucia Wealth Services LLC purchased a new position in shares of The Home Depot during the 1st quarter valued at $101,000. Ford Financial Group Inc. purchased a new position in shares of The Home Depot during the 4th quarter valued at $108,000. Earnest Partners LLC purchased a new position in shares of The Home Depot during the 4th quarter valued at $108,000. Institutional & Family Asset Management LLC purchased a new position in shares of The Home Depot during the 1st quarter valued at $108,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of The Home Depot during the 4th quarter valued at $112,000. 70.73% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Mark Holifield sold 45,549 shares of The Home Depot stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $186.84, for a total value of $8,510,375.16. Following the sale, the executive vice president now owns 51,879 shares of the company’s stock, valued at approximately $9,693,072.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory D. Brenneman purchased 16,827 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was bought at an average cost of $178.29 per share, for a total transaction of $3,000,085.83. Following the acquisition, the director now directly owns 46,332 shares in the company, valued at approximately $8,260,532.28. The disclosure for this purchase can be found here. Insiders sold a total of 214,576 shares of company stock worth $39,731,257 in the last ninety days. 0.25% of the stock is currently owned by insiders.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 31st will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.22%. The Home Depot’s dividend payout ratio (DPR) is presently 55.23%.

The Home Depot Company Profile

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

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