Oppenheimer Analysts Reduce Earnings Estimates for Home Depot Inc (HD)

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Home Depot Inc (NYSE:HD) – Research analysts at Oppenheimer cut their Q1 2020 EPS estimates for shares of Home Depot in a note issued to investors on Wednesday, May 15th. Oppenheimer analyst B. Nagel now anticipates that the home improvement retailer will post earnings per share of $2.17 for the quarter, down from their prior forecast of $2.19. Oppenheimer also issued estimates for Home Depot’s FY2020 earnings at $10.20 EPS.

A number of other analysts also recently issued reports on the company. Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada reduced their target price on Home Depot from $223.00 to $217.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Wells Fargo & Co upped their price objective on Home Depot from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $192.00 price objective on shares of Home Depot in a research note on Wednesday, May 1st. Finally, Robert W. Baird reaffirmed a “positive” rating on shares of Home Depot in a research note on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $204.71.

NYSE:HD opened at $191.62 on Thursday. Home Depot has a 52 week low of $158.09 and a 52 week high of $215.43. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. The firm has a market capitalization of $210.81 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, topping the Zacks’ consensus estimate of $2.16 by $0.09. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The firm had revenue of $26.49 billion for the quarter, compared to the consensus estimate of $26.57 billion. During the same quarter last year, the business posted $1.69 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year.

Home Depot declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 26th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the transaction, the executive vice president now owns 86,813 shares in the company, valued at approximately $15,880,702.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Holifield sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total value of $2,203,200.00. Following the transaction, the executive vice president now owns 39,794 shares in the company, valued at approximately $7,306,178.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,194 shares of company stock valued at $7,553,141. 0.27% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Financial Advisors LLC grew its holdings in Home Depot by 0.8% during the 1st quarter. American Financial Advisors LLC now owns 6,124 shares of the home improvement retailer’s stock valued at $1,175,000 after buying an additional 49 shares during the last quarter. Indiana Trust & Investment Management CO lifted its stake in shares of Home Depot by 1.8% during the 1st quarter. Indiana Trust & Investment Management CO now owns 2,844 shares of the home improvement retailer’s stock worth $546,000 after purchasing an additional 50 shares during the period. Excalibur Management Corp lifted its stake in shares of Home Depot by 1.6% during the 1st quarter. Excalibur Management Corp now owns 3,232 shares of the home improvement retailer’s stock worth $620,000 after purchasing an additional 50 shares during the period. Granite Investment Advisors LLC lifted its stake in shares of Home Depot by 0.3% during the 1st quarter. Granite Investment Advisors LLC now owns 16,138 shares of the home improvement retailer’s stock worth $3,097,000 after purchasing an additional 50 shares during the period. Finally, Wedgewood Investors Inc. PA lifted its stake in shares of Home Depot by 1.0% during the 1st quarter. Wedgewood Investors Inc. PA now owns 5,409 shares of the home improvement retailer’s stock worth $1,038,000 after purchasing an additional 52 shares during the period. Institutional investors own 70.93% of the company’s stock.

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

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