Q4 2024 Earnings Forecast for The Home Depot, Inc. (NYSE:HD) Issued By Wedbush

The Home Depot, Inc. (NYSE:HD - Free Report) - Analysts at Wedbush raised their Q4 2024 EPS estimates for shares of Home Depot in a research note issued to investors on Wednesday, January 10th. Wedbush analyst S. Basham now anticipates that the home improvement retailer will earn $2.66 per share for the quarter, up from their prior forecast of $2.65. Wedbush has a "Outperform" rating and a $380.00 price objective on the stock. The consensus estimate for Home Depot's current full-year earnings is $15.05 per share. Wedbush also issued estimates for Home Depot's Q1 2025 earnings at $3.71 EPS, Q2 2025 earnings at $4.64 EPS, Q3 2025 earnings at $4.12 EPS, Q4 2025 earnings at $3.37 EPS and FY2025 earnings at $15.85 EPS.

A number of other analysts have also recently weighed in on the stock. HSBC started coverage on shares of Home Depot in a report on Friday, September 22nd. They set a "hold" rating and a $365.00 target price on the stock. Barclays raised shares of Home Depot from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. Truist Financial upped their target price on Home Depot from $356.00 to $387.00 and gave the company a "buy" rating in a report on Thursday, December 21st. StockNews.com raised Home Depot from a "hold" rating to a "buy" rating in a report on Thursday, December 21st. Finally, Oppenheimer restated an "outperform" rating and set a $360.00 price objective on shares of Home Depot in a research report on Wednesday, November 15th. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $345.46.

Home Depot Stock Performance

Shares of HD opened at $356.53 on Friday. The stock has a market capitalization of $354.84 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.65 and a beta of 0.97. The business's fifty day moving average price is $326.67 and its 200 day moving average price is $317.62. The company has a debt-to-equity ratio of 28.37, a current ratio of 1.30 and a quick ratio of 0.33. Home Depot has a 12-month low of $274.26 and a 12-month high of $361.00.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.75 by $0.06. Home Depot had a net margin of 10.22% and a return on equity of 1,339.65%. The business had revenue of $37.71 billion for the quarter, compared to analyst estimates of $37.59 billion. During the same quarter in the prior year, the business posted $4.24 EPS. The company's revenue for the quarter was down 3.0% on a year-over-year basis.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently bought and sold shares of the business. VisionPoint Advisory Group LLC bought a new position in Home Depot during the second quarter valued at about $26,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot during the 1st quarter valued at about $27,000. KB Financial Partners LLC acquired a new stake in Home Depot in the 1st quarter worth approximately $28,000. Studio Investment Management LLC acquired a new stake in Home Depot in the 4th quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Insider Buying and Selling

In other Home Depot news, CAO Kimberly R. Scardino sold 1,375 shares of the company's stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $306.51, for a total value of $421,451.25. Following the transaction, the chief accounting officer now owns 6,744 shares of the company's stock, valued at $2,067,103.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Kimberly R. Scardino sold 1,375 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $306.51, for a total value of $421,451.25. Following the completion of the transaction, the chief accounting officer now owns 6,744 shares in the company, valued at approximately $2,067,103.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William D. Bastek sold 1,612 shares of the business's stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $313.90, for a total value of $506,006.80. Following the sale, the executive vice president now owns 17,966 shares in the company, valued at approximately $5,639,527.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,114 shares of company stock worth $966,456. Corporate insiders own 0.19% of the company's stock.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a dividend of $2.09 per share. The ex-dividend date was Wednesday, November 29th. This represents a $8.36 annualized dividend and a dividend yield of 2.34%. Home Depot's dividend payout ratio (DPR) is 53.66%.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. 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.

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