Zacks: Analysts Anticipate Home Depot Inc (HD) Will Post Quarterly Sales of $30.01 Billion

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Brokerages expect that Home Depot Inc (NYSE:HD) will announce sales of $30.01 billion for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Home Depot’s earnings. The lowest sales estimate is $29.45 billion and the highest is $30.33 billion. Home Depot reported sales of $28.11 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The business is expected to announce its next earnings results on Tuesday, August 21st.

According to Zacks, analysts expect that Home Depot will report full-year sales of $107.81 billion for the current financial year, with estimates ranging from $107.26 billion to $108.64 billion. For the next financial year, analysts expect that the firm will report sales of $111.92 billion per share, with estimates ranging from $110.48 billion to $113.12 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Home Depot.

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

A number of research firms have issued reports on HD. Wells Fargo & Co set a $205.00 target price on shares of Home Depot and gave the company a “buy” rating in a research note on Tuesday, May 15th. Loop Capital set a $187.00 price target on shares of Home Depot and gave the company a “hold” rating in a research report on Tuesday, May 15th. Deutsche Bank set a $210.00 price target on shares of Home Depot and gave the company a “buy” rating in a research report on Tuesday, May 15th. Zacks Investment Research raised shares of Home Depot from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. Finally, Credit Suisse Group set a $222.00 price target on shares of Home Depot and gave the company a “buy” rating in a research report on Monday, May 14th. 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 given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $195.95.

In other Home Depot news, Director Stephanie Linnartz purchased 1,000 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were purchased at an average price of $187.57 per share, for a total transaction of $187,570.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Holifield sold 45,549 shares of Home Depot stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $186.84, for a total transaction of $8,510,375.16. Following the sale, the executive vice president now owns 51,879 shares in the company, valued at approximately $9,693,072.36. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HD. Dimensional Fund Advisors LP boosted its stake in shares of Home Depot by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,133,380 shares of the home improvement retailer’s stock valued at $512,473,000 after purchasing an additional 8,344 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Home Depot by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 2,093,731 shares of the home improvement retailer’s stock valued at $396,825,000 after purchasing an additional 49,863 shares in the last quarter. Marietta Wealth Management LLC boosted its stake in shares of Home Depot by 22.5% in the 3rd quarter. Marietta Wealth Management LLC now owns 19,382 shares of the home improvement retailer’s stock valued at $3,170,000 after purchasing an additional 3,556 shares in the last quarter. Trillium Asset Management LLC boosted its stake in shares of Home Depot by 4.4% in the 4th quarter. Trillium Asset Management LLC now owns 125,461 shares of the home improvement retailer’s stock valued at $23,778,000 after purchasing an additional 5,328 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in shares of Home Depot by 7.6% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 54,259 shares of the home improvement retailer’s stock valued at $8,875,000 after purchasing an additional 3,854 shares in the last quarter. Hedge funds and other institutional investors own 69.23% of the company’s stock.

Home Depot traded up $2.16, reaching $198.33, during trading on Friday, according to MarketBeat. The company’s stock had a trading volume of 4,006,213 shares, compared to its average volume of 4,669,831. The company has a quick ratio of 0.37, a current ratio of 1.17 and a debt-to-equity ratio of 14.37. The stock has a market capitalization of $226.29 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.13. Home Depot has a 1-year low of $144.25 and a 1-year high of $207.60.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 31st will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, May 30th. Home Depot’s dividend payout ratio (DPR) is currently 55.23%.

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

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