DA Davidson Research Analysts Lift Earnings Estimates for The Home Depot, Inc. (NYSE:HD)

Last updated on Wednesday, May 5, 2021 | 2021 MarketBeat

The Home Depot, Inc. (NYSE:HD) - Investment analysts at DA Davidson upped their Q1 2022 earnings per share estimates for The Home Depot in a research report issued on Friday, April 30th. DA Davidson analyst M. Baker now expects that the home improvement retailer will post earnings of $3.00 per share for the quarter, up from their previous estimate of $2.93. DA Davidson also issued estimates for The Home Depot's FY2023 earnings at $14.18 EPS.

A number of other equities research analysts have also recently issued reports on HD. UBS Group boosted their target price on shares of The Home Depot from $305.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, April 20th. Zelman & Associates lowered shares of The Home Depot from a "buy" rating to a "hold" rating in a research report on Thursday, April 15th. Loop Capital boosted their price objective on shares of The Home Depot from $310.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, April 19th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on The Home Depot from $288.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Guggenheim raised The Home Depot from a "neutral" rating to a "buy" rating and set a $310.00 price target for the company in a report on Wednesday, January 13th. Five equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. The stock has a consensus rating of "Buy" and an average target price of $310.26.

Shares of NYSE:HD opened at $332.77 on Monday. The stock has a market cap of $357.80 billion, a PE ratio of 28.79, a P/E/G ratio of 2.13 and a beta of 1.03. The company has a quick ratio of 0.72, a current ratio of 1.36 and a debt-to-equity ratio of 21.39. The Home Depot has a 12-month low of $223.61 and a 12-month high of $333.23. The business has a 50 day moving average of $311.07 and a 200-day moving average of $281.95. The Home Depot (NYSE:HD) last announced its quarterly earnings results on Monday, February 22nd. The home improvement retailer reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.02. The Home Depot had a negative return on equity of 910.85% and a net margin of 9.94%. The business had revenue of $32.26 billion during the quarter, compared to the consensus estimate of $27.10 billion. During the same quarter last year, the firm posted $2.28 EPS. The company's quarterly revenue was up 25.1% on a year-over-year basis.

Institutional investors have recently made changes to their positions in the business. CI Investments Inc. grew its stake in shares of The Home Depot by 7.4% in the 4th quarter. CI Investments Inc. now owns 80,119 shares of the home improvement retailer's stock worth $21,281,000 after acquiring an additional 5,505 shares in the last quarter. Roffman Miller Associates Inc. PA increased its stake in The Home Depot by 27.9% in the 1st quarter. Roffman Miller Associates Inc. PA now owns 390,451 shares of the home improvement retailer's stock valued at $46,067,000 after buying an additional 85,287 shares during the last quarter. Clearview Wealth Advisors LLC bought a new position in shares of The Home Depot during the 4th quarter worth approximately $249,000. Canvas Wealth Advisors LLC purchased a new position in shares of The Home Depot in the 1st quarter worth approximately $1,060,000. Finally, Venture Visionary Partners LLC grew its holdings in shares of The Home Depot by 99.2% in the fourth quarter. Venture Visionary Partners LLC now owns 27,768 shares of the home improvement retailer's stock valued at $7,375,000 after acquiring an additional 13,825 shares in the last quarter. 68.71% of the stock is owned by hedge funds and other institutional investors.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 11th were paid a dividend of $1.65 per share. This is an increase from The Home Depot's previous quarterly dividend of $1.50. This represents a $6.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 10th. The Home Depot's dividend payout ratio is 64.39%.

About The 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, building materials, 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 The Home Depot (NYSE:HD)

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