Home Depot (NYSE:HD) Updates FY 2024 Earnings Guidance

Home Depot (NYSE:HD) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 14.510-14.810 for the period, compared to the consensus estimate of 15.200. The company issued revenue guidance of $156.5 billion-$158.0 billion, compared to the consensus revenue estimate of $158.6 billion.

Home Depot Price Performance

Shares of NYSE:HD opened at $350.07 on Wednesday. The company has a market capitalization of $347.13 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The company’s 50-day moving average is $348.96 and its 200 day moving average is $353.14. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Home Depot will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Home Depot from $377.00 to $400.00 and gave the company an overweight rating in a research report on Monday, August 5th. Wedbush reaffirmed an outperform rating and set a $410.00 price objective on shares of Home Depot in a report on Friday, May 10th. UBS Group reduced their target price on shares of Home Depot from $411.00 to $400.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Evercore ISI boosted their price target on shares of Home Depot from $415.00 to $420.00 and gave the company an outperform rating in a research report on Tuesday, May 14th. Finally, HSBC cut their price objective on shares of Home Depot from $323.00 to $318.00 and set a reduce rating for the company in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $384.00.

Insider Transactions at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

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.