SunTrust Banks Comments on The Home Depot Inc.’s FY2017 Earnings (HD)
The Home Depot Inc. (NYSE:HD) – Stock analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for shares of The Home Depot in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst K. Hughes now expects that the brokerage will post earnings of $6.32 per share for the year, up from their previous estimate of $6.31. SunTrust Banks also issued estimates for The Home Depot’s Q4 2017 earnings at $1.31 EPS, Q1 2018 earnings at $1.59 EPS, Q2 2018 earnings at $2.21 EPS, Q3 2018 earnings at $1.80 EPS, Q4 2018 earnings at $1.48 EPS and FY2018 earnings at $7.09 EPS.
Several other research analysts have also recently weighed in on HD. Zacks Investment Research cut The Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Bank of America Corp. reaffirmed a “buy” rating and set a $128.72 target price (up previously from $127.67) on shares of The Home Depot in a research note on Tuesday. RBC Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (up previously from $150.00) on shares of The Home Depot in a research note on Wednesday, August 17th. Nomura reaffirmed an “in-line” rating and set a $155.00 target price on shares of The Home Depot in a research note on Wednesday, August 17th. Finally, Wedbush raised their target price on The Home Depot from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $144.81.
Shares of The Home Depot (NYSE:HD) traded down 0.50% on Friday, reaching $128.29. 3,080,668 shares of the company traded hands. The company has a market capitalization of $158.51 billion, a PE ratio of 21.71 and a beta of 1.05. The firm has a 50-day moving average of $125.66 and a 200-day moving average of $130.71. The Home Depot has a 52-week low of $109.62 and a 52-week high of $139.00.
The Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 15th. The home improvement retailer reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The Home Depot had a net margin of 8.23% and a return on equity of 123.29%. The firm earned $23.20 billion during the quarter, compared to the consensus estimate of $23.05 billion. During the same quarter in the previous year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.14%. The Home Depot’s dividend payout ratio (DPR) is presently 44.66%.
In related news, CFO Carol B. Tome sold 97,610 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $135.35, for a total transaction of $13,211,513.50. Following the completion of the transaction, the chief financial officer now owns 644,831 shares in the company, valued at approximately $87,277,875.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Springbok Capital Management LLC increased its position in The Home Depot by 429.8% in the first quarter. Springbok Capital Management LLC now owns 16,901 shares of the home improvement retailer’s stock valued at $2,255,000 after buying an additional 13,711 shares during the period. Zions Bancorporation increased its position in shares of The Home Depot by 13.0% in the first quarter. Zions Bancorporation now owns 4,487 shares of the home improvement retailer’s stock valued at $596,000 after buying an additional 516 shares during the last quarter. Clark Capital Management Group Inc. increased its position in shares of The Home Depot by 3.7% in the first quarter. Clark Capital Management Group Inc. now owns 126,259 shares of the home improvement retailer’s stock valued at $16,847,000 after buying an additional 4,467 shares during the last quarter. Wealthsource Partners LLC acquired a new position in shares of The Home Depot during the first quarter valued at about $317,000. Finally, National Pension Service increased its position in shares of The Home Depot by 4.2% in the first quarter. National Pension Service now owns 643,174 shares of the home improvement retailer’s stock valued at $85,819,000 after buying an additional 25,668 shares during the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.
About The Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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