Wedbush Brokers Increase Earnings Estimates for Home Depot

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

Several other equities research analysts also recently commented on HD. DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Guggenheim lifted their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Piper Sandler increased their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI lifted their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Trading Up 0.6 %

NYSE:HD opened at $408.25 on Friday. Home Depot has a 12 month low of $302.34 and a 12 month high of $421.56. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. The company has a 50-day moving average price of $398.55 and a 200-day moving average price of $365.84. The stock has a market cap of $405.51 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 2.83 and a beta of 1.01.

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, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.81 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. WFA Asset Management Corp raised its holdings in Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after buying an additional 135 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Home Depot by 5.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after acquiring an additional 623 shares during the last quarter. M&G Plc purchased a new position in shares of Home Depot during the 1st quarter worth about $68,129,000. First Foundation Advisors boosted its stake in shares of Home Depot by 5.0% during the 1st quarter. First Foundation Advisors now owns 11,278 shares of the home improvement retailer’s stock worth $4,326,000 after purchasing an additional 542 shares during the period. Finally, Councilmark Asset Management LLC purchased a new stake in Home Depot in the 1st quarter worth about $6,296,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given 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 61.14%.

About Home Depot

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.