Home Depot (NYSE:HD) Trading Down 0.7% Following Weak Earnings

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) were down 0.7% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $372.98 and last traded at $374.27. Approximately 1,017,528 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 3,547,730 shares. The stock had previously closed at $377.05.

The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

HD has been the topic of several research analyst reports. Gordon Haskett raised their price objective on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Robert W. Baird cut their price target on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the 4th quarter worth about $28,000. Navigoe LLC acquired a new position in Home Depot during the 4th quarter worth about $29,000. Abound Financial LLC acquired a new position in shares of Home Depot during the first quarter worth approximately $31,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the 4th quarter worth $32,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

The firm has a market cap of $361.00 billion, a P/E ratio of 24.67, a PEG ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a fifty day moving average of $359.90 and a 200-day moving average of $387.11.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.