Wedbush Analysts Increase Earnings Estimates for Home Depot

The Home Depot, Inc. (NYSE:HD) – Investment analysts at Wedbush increased their FY2027 earnings per share estimates for Home Depot in a report released on Tuesday, November 12th. Wedbush analyst S. Basham now expects that the home improvement retailer will earn $16.84 per share for the year, up from their previous estimate of $15.60. The consensus estimate for Home Depot’s current full-year earnings is $15.06 per share.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.81 earnings per share.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Truist Financial lifted their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. Mizuho raised their price target on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group lifted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

Shares of Home Depot stock opened at $408.18 on Friday. The firm has a market capitalization of $405.44 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. Home Depot has a 12 month low of $302.34 and a 12 month high of $421.56. The business’s fifty day simple moving average is $399.51 and its 200 day simple moving average is $366.34.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HD. Geode Capital Management LLC increased its holdings in Home Depot by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. Fisher Asset Management LLC lifted its position in Home Depot by 2.2% during the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock worth $3,819,679,000 after buying an additional 205,954 shares during the period. International Assets Investment Management LLC boosted its position in shares of Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. FMR LLC grew its position in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the period. Finally, Legal & General Group Plc boosted its position in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s dividend payout ratio is currently 61.14%.

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.