Home Depot Inc (HD) Updates FY18 Earnings Guidance
Home Depot Inc (NYSE:HD) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.29 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.24. The company issued revenue guidance of +5.3% to ~$99.61 billion, compared to the consensus revenue estimate of $99.35 billion.
A number of research analysts have recently weighed in on the company. UBS AG reissued a buy rating and issued a $175.00 price target (up previously from $173.00) on shares of Home Depot in a research note on Wednesday, May 17th. Oppenheimer Holdings, Inc. set a $178.00 price target on Home Depot and gave the company a buy rating in a research note on Tuesday. Robert W. Baird set a $175.00 price target on Home Depot and gave the company a buy rating in a research note on Tuesday. Telsey Advisory Group reissued an outperform rating on shares of Home Depot in a research note on Friday. Finally, Jefferies Group LLC reissued a buy rating and issued a $182.00 price target on shares of Home Depot in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the stock. Home Depot currently has a consensus rating of Buy and an average price target of $165.12.
Home Depot Inc (NYSE HD) opened at 154.26 on Tuesday. The firm has a market capitalization of $184.43 billion, a P/E ratio of 23.08 and a beta of 1.08. The stock’s 50 day moving average is $151.41 and its 200-day moving average is $149.89. Home Depot Inc has a 1-year low of $119.20 and a 1-year high of $160.86. Home Depot also saw unusually large options trading activity on Monday. Traders bought 31,506 put options on the stock. This is an increase of 331% compared to the average daily volume of 7,312 put options.
Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 15th. The home improvement retailer reported $2.25 EPS for the quarter, topping the consensus estimate of $2.21 by $0.04. The company had revenue of $28.11 billion during the quarter, compared to the consensus estimate of $27.84 billion. Home Depot had a net margin of 8.43% and a return on equity of 194.77%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.97 earnings per share. Analysts forecast that Home Depot Inc will post $7.25 EPS for the current year.
In other Home Depot news, Director Wayne M. Hewett bought 350 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of $157.11 per share, with a total value of $54,988.50. Following the completion of the transaction, the director now directly owns 1,400 shares in the company, valued at approximately $219,954. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig A. Menear sold 90,661 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $156.79, for a total transaction of $14,214,738.19. Following the sale, the chief executive officer now directly owns 240,090 shares of the company’s stock, valued at $37,643,711.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,900 shares of company stock valued at $20,167,386. 0.26% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Jacobi Capital Management LLC increased its stake in Home Depot by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after buying an additional 101 shares during the last quarter. Glassman Wealth Services increased its stake in Home Depot by 38.3% in the second quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after buying an additional 300 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Home Depot by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the home improvement retailer’s stock valued at $184,000 after buying an additional 900 shares during the last quarter. Empirical Finance LLC acquired a new stake in Home Depot during the second quarter valued at approximately $203,000. Finally, Vivaldi Capital Management LLC acquired a new stake in Home Depot during the second quarter valued at approximately $206,000. 71.27% of the stock is owned by institutional investors.
Home Depot Company Profile
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 serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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