Home Depot (NYSE:HD) Posts Quarterly Earnings Results

Home Depot (NYSE:HDGet Rating) posted its quarterly earnings results on Tuesday. The home improvement retailer reported $4.24 earnings per share for the quarter, topping the consensus estimate of $4.11 by $0.13, Briefing.com reports. The firm had revenue of $38.87 billion for the quarter, compared to analyst estimates of $37.96 billion. Home Depot had a negative return on equity of 3,656.69% and a net margin of 10.87%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.92 EPS.

Home Depot Price Performance

Home Depot stock opened at $311.44 on Friday. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.25 and a current ratio of 1.39. Home Depot has a 52 week low of $264.51 and a 52 week high of $420.61. The stock has a market capitalization of $318.83 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95. The stock has a fifty day moving average of $286.13 and a 200-day moving average of $292.44.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.44%. Home Depot’s dividend payout ratio (DPR) is currently 45.81%.

Home Depot declared that its board has approved a share repurchase program on Thursday, August 18th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the transaction, the executive vice president now owns 6,180 shares of the company’s stock, valued at approximately $1,857,646.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Home Depot news, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 1,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the transaction, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at approximately $1,857,646.20. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently bought and sold shares of HD. Fairfield Bush & CO. acquired a new stake in shares of Home Depot in the first quarter valued at about $27,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Home Depot in the third quarter valued at about $45,000. Atlas Capital Advisors LLC increased its stake in shares of Home Depot by 35.0% in the second quarter. Atlas Capital Advisors LLC now owns 328 shares of the home improvement retailer’s stock valued at $90,000 after buying an additional 85 shares during the period. Prelude Capital Management LLC acquired a new stake in shares of Home Depot in the first quarter valued at about $209,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Home Depot in the first quarter valued at about $211,000. Institutional investors and hedge funds own 68.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on HD. Cowen began coverage on Home Depot in a research note on Wednesday, October 19th. They set an “outperform” rating for the company. BNP Paribas downgraded Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 target price for the company. in a research note on Wednesday, October 19th. Piper Sandler reduced their target price on Home Depot from $327.00 to $323.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com upgraded Home Depot from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th. Finally, DA Davidson lifted their target price on Home Depot to $334.00 in a research note on Monday, August 22nd. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $346.29.

Home Depot Company Profile

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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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Earnings History for Home Depot (NYSE:HD)

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