Brokers Set Expectations for Home Depot Inc’s FY2019 Earnings (HD)

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Home Depot Inc (NYSE:HD) – Research analysts at Wedbush cut their FY2019 earnings per share (EPS) estimates for shares of Home Depot in a research report issued on Monday, October 15th, Zacks Investment Research reports. Wedbush analyst S. Basham now forecasts that the home improvement retailer will post earnings of $9.44 per share for the year, down from their previous forecast of $9.45. Wedbush also issued estimates for Home Depot’s FY2020 earnings at $10.11 EPS and FY2021 earnings at $10.76 EPS.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.21. The business had revenue of $30.46 billion for the quarter, compared to analyst estimates of $30.04 billion. Home Depot had a return on equity of 522.68% and a net margin of 9.45%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS.

HD has been the topic of a number of other reports. Wells Fargo & Co reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Home Depot in a report on Sunday, September 16th. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $228.00 price objective on the stock in a report on Friday, October 5th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $204.00 price objective (down from $222.00) on shares of Home Depot in a report on Wednesday, October 17th. ValuEngine lowered Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, Morgan Stanley upped their price objective on Home Depot from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Home Depot presently has a consensus rating of “Buy” and an average price target of $205.28.

Shares of HD stock traded down $2.01 during trading on Wednesday, reaching $185.99. 4,760,551 shares of the company’s stock were exchanged, compared to its average volume of 5,868,323. The company has a current ratio of 1.13, a quick ratio of 0.37 and a debt-to-equity ratio of 11.60. Home Depot has a twelve month low of $162.93 and a twelve month high of $215.43. The firm has a market capitalization of $214.22 billion, a PE ratio of 24.93, a PEG ratio of 1.47 and a beta of 1.26.

In related news, EVP Matt Carey sold 4,125 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $195.43, for a total transaction of $806,148.75. Following the completion of the sale, the executive vice president now directly owns 60,179 shares in the company, valued at approximately $11,760,781.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William G. Lennie sold 10,854 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total value of $2,188,600.56. Following the sale, the executive vice president now owns 40,057 shares of the company’s stock, valued at $8,077,093.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Viridian Ria LLC increased its holdings in Home Depot by 12.1% in the 2nd quarter. Viridian Ria LLC now owns 2,355 shares of the home improvement retailer’s stock worth $465,000 after purchasing an additional 255 shares in the last quarter. Nadler Financial Group Inc. increased its holdings in Home Depot by 11.6% in the 2nd quarter. Nadler Financial Group Inc. now owns 2,545 shares of the home improvement retailer’s stock worth $496,000 after purchasing an additional 264 shares in the last quarter. Eagle Capital Management LLC increased its holdings in Home Depot by 1.4% in the 3rd quarter. Eagle Capital Management LLC now owns 19,839 shares of the home improvement retailer’s stock worth $4,110,000 after purchasing an additional 265 shares in the last quarter. Exencial Wealth Advisors LLC increased its holdings in Home Depot by 6.5% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 4,385 shares of the home improvement retailer’s stock worth $856,000 after purchasing an additional 266 shares in the last quarter. Finally, Bingham Osborn & Scarborough LLC increased its holdings in Home Depot by 11.2% in the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 2,712 shares of the home improvement retailer’s stock worth $529,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

About 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 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 Home Depot (NYSE:HD)

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