Home Depot (NYSE:HD) Issues Earnings Results

Home Depot (NYSE:HD) released its quarterly earnings results on Tuesday. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14, Briefing.com reports. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.81 EPS. Home Depot updated its FY 2024 guidance to 15.100-15.100 EPS.

Home Depot Stock Down 1.1 %

HD stock opened at $405.60 on Friday. The business has a 50 day moving average of $397.67 and a 200 day moving average of $365.56. The firm has a market cap of $402.88 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. Home Depot has a twelve month low of $302.34 and a twelve month high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s dividend payout ratio is currently 61.14%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their target price on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Bank of America raised their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $360.00 to $455.00 in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.