$25.76 Billion in Sales Expected for Home Depot Inc (NYSE:HD) This Quarter

Brokerages predict that Home Depot Inc (NYSE:HD) will report $25.76 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Home Depot’s earnings, with estimates ranging from $25.68 billion to $25.92 billion. Home Depot reported sales of $26.49 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.8%. The company is scheduled to issue its next earnings results on Tuesday, February 25th.

On average, analysts expect that Home Depot will report full-year sales of $110.20 billion for the current fiscal year, with estimates ranging from $110.12 billion to $110.36 billion. For the next fiscal year, analysts forecast that the company will post sales of $114.77 billion, with estimates ranging from $113.67 billion to $115.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Home Depot.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 19th. The home improvement retailer reported $2.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.53. The firm had revenue of $27.22 billion for the quarter, compared to analyst estimates of $27.51 billion. Home Depot had a negative return on equity of 721.00% and a net margin of 10.01%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.51 earnings per share.

HD has been the subject of several analyst reports. Goldman Sachs Group raised their target price on Home Depot to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. They noted that the move was a valuation call. Edward Jones cut Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley upped their price target on Home Depot from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Nomura started coverage on Home Depot in a research note on Friday, November 8th. They set a “neutral” rating and a $240.00 price objective for the company. Finally, Wedbush reissued a “neutral” rating and set a $230.00 price objective on shares of Home Depot in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $235.29.

HD opened at $213.00 on Friday. The company has a market capitalization of $240.54 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.22 and a beta of 1.01. The firm’s fifty day moving average price is $229.81 and its two-hundred day moving average price is $218.01. Home Depot has a fifty-two week low of $158.09 and a fifty-two week high of $239.31.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, December 4th. Home Depot’s payout ratio is 55.01%.

Several hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its stake in Home Depot by 3,457.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,641,450 shares of the home improvement retailer’s stock worth $2,005,132,000 after acquiring an additional 9,370,409 shares during the last quarter. Invesco Ltd. grew its holdings in Home Depot by 104.6% during the second quarter. Invesco Ltd. now owns 4,531,199 shares of the home improvement retailer’s stock valued at $942,353,000 after purchasing an additional 2,316,574 shares during the period. Fisher Asset Management LLC increased its stake in Home Depot by 26.4% in the third quarter. Fisher Asset Management LLC now owns 6,135,124 shares of the home improvement retailer’s stock valued at $1,423,472,000 after purchasing an additional 1,280,467 shares in the last quarter. Nomura Holdings Inc. increased its stake in Home Depot by 1,041.4% in the second quarter. Nomura Holdings Inc. now owns 673,750 shares of the home improvement retailer’s stock valued at $141,496,000 after purchasing an additional 614,724 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Home Depot by 20.2% in the third quarter. California Public Employees Retirement System now owns 3,248,433 shares of the home improvement retailer’s stock valued at $753,701,000 after purchasing an additional 546,832 shares in the last quarter. 69.62% of the stock is owned by institutional investors.

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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