Equities research analysts expect The Home Depot, Inc. (NYSE:HD) to post sales of $33.38 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for The Home Depot's earnings, with the lowest sales estimate coming in at $29.85 billion and the highest estimate coming in at $35.33 billion. The Home Depot reported sales of $28.26 billion in the same quarter last year, which indicates a positive year over year growth rate of 18.1%. The business is scheduled to report its next earnings report before the market opens on Tuesday, May 18th.
According to Zacks, analysts expect that The Home Depot will report full-year sales of $134.83 billion for the current financial year, with estimates ranging from $128.72 billion to $138.85 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $139.20 billion, with estimates ranging from $132.80 billion to $143.56 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of sell-side analysts that cover The Home Depot.
The Home Depot (NYSE:HD) last posted its earnings results on Monday, February 22nd. The home improvement retailer reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. The firm had revenue of $32.26 billion for the quarter, compared to the consensus estimate of $27.10 billion. The Home Depot had a negative return on equity of 910.85% and a net margin of 9.94%. The business's quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.28 earnings per share.
A number of brokerages recently issued reports on HD. Guggenheim upgraded The Home Depot from a "neutral" rating to a "buy" rating and set a $310.00 price objective on the stock in a research report on Wednesday, January 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on The Home Depot in a research report on Monday, March 15th. They issued a "buy" rating and a $288.00 price objective on the stock. Wells Fargo & Company increased their price objective on The Home Depot from $310.00 to $330.00 and gave the stock an "overweight" rating in a research report on Monday, March 29th. They noted that the move was a valuation call. Citigroup started coverage on The Home Depot in a research report on Monday, March 15th. They issued a "buy" rating and a $288.00 price objective on the stock. Finally, Credit Suisse Group restated a "buy" rating and set a $319.00 price target on shares of The Home Depot in a research report on Thursday, March 25th. Five equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock presently has an average rating of "Buy" and an average target price of $299.32.
Several hedge funds and other institutional investors have recently bought and sold shares of HD. Amarillo National Bank lifted its holdings in The Home Depot by 2.7% in the fourth quarter. Amarillo National Bank now owns 1,372 shares of the home improvement retailer's stock worth $364,000 after buying an additional 36 shares during the period. TRUE Private Wealth Advisors lifted its holdings in The Home Depot by 0.7% in the fourth quarter. TRUE Private Wealth Advisors now owns 5,035 shares of the home improvement retailer's stock worth $1,337,000 after buying an additional 37 shares during the period. Accredited Investors Inc. lifted its holdings in The Home Depot by 0.8% in the fourth quarter. Accredited Investors Inc. now owns 4,889 shares of the home improvement retailer's stock worth $1,299,000 after buying an additional 37 shares during the period. Bigelow Investment Advisors LLC lifted its holdings in The Home Depot by 1.0% in the fourth quarter. Bigelow Investment Advisors LLC now owns 3,914 shares of the home improvement retailer's stock worth $1,040,000 after buying an additional 37 shares during the period. Finally, Santori & Peters Inc. lifted its holdings in The Home Depot by 1.2% in the fourth quarter. Santori & Peters Inc. now owns 3,173 shares of the home improvement retailer's stock worth $853,000 after buying an additional 38 shares during the period. 68.71% of the stock is currently owned by institutional investors.
Shares of HD stock opened at $312.47 on Thursday. The company has a debt-to-equity ratio of 21.39, a quick ratio of 0.72 and a current ratio of 1.36. The Home Depot has a 52-week low of $191.54 and a 52-week high of $315.94. The company has a market capitalization of $336.41 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. The business's fifty day moving average is $280.49 and its 200 day moving average is $276.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 11th were paid a $1.65 dividend. The ex-dividend date was Wednesday, March 10th. This is a boost from The Home Depot's previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a dividend yield of 2.11%. The Home Depot's dividend payout ratio (DPR) is presently 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, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
See Also: How to trade on quiet period expirations
Get a free copy of the Zacks research report on The Home Depot (HD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]7 Stocks to Buy For the Current Housing Boom
It’s been an uneven economic recovery to date. However, one area that is unquestionably booming is the housing market. But the interesting thing is that it took more than low mortgage rates to convince home buyers to take the plunge.
What it took was a pandemic. Think I’m kidding? Look at the Housing Market Index (HMI). In September, the HMI posted a preliminary rating of 83. That’s a historical high. And this marks the fifth consecutive month the HMI has increased.
Simply put, Americans have a renewed interest in spreading out. For some urban apartment dwellers, this means a flight to a place of their own. Some that own homes in more densely populated areas are looking for more wide-open spaces.
And regardless of the outcome of the presidential election, the Federal Reserve has indicated it is in no hurry to raise interest rates. This means that mortgage rates should remain favorable no matter which party occupies the White House.
There are many ways for investors to profit from this housing boom. Homebuilder stocks are a logical choice. But other companies will benefit from the rise in homeownership.
To help you capitalize on this red hot sector, we’ve put together this special presentation.
View the "7 Stocks to Buy For the Current Housing Boom"