Gabelli Analysts Lower Earnings Estimates for Home Depot Inc (HD)
Home Depot Inc (NYSE:HD) – Equities researchers at Gabelli dropped their FY2020 earnings per share estimates for shares of Home Depot in a research report issued to clients and investors on Wednesday, November 14th. Gabelli analyst A. Lacayo now anticipates that the home improvement retailer will post earnings per share of $10.30 for the year, down from their previous estimate of $10.40.
HD has been the topic of several other research reports. Wells Fargo & Co reiterated a “buy” rating and set a $230.00 price target on shares of Home Depot in a research report on Sunday, September 16th. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a research report on Friday, October 5th. Credit Suisse Group reiterated a “neutral” rating and set a $204.00 price target (down previously from $222.00) on shares of Home Depot in a research report on Wednesday, October 17th. Royal Bank of Canada reduced their price target on shares of Home Depot from $218.00 to $208.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, ValuEngine cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Home Depot currently has an average rating of “Buy” and an average price target of $204.16.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 13th. The home improvement retailer reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.24. Home Depot had a net margin of 10.00% and a return on equity of 664.88%. The company had revenue of $26.30 billion for the quarter, compared to analysts’ expectations of $26.23 billion. During the same quarter in the previous year, the company earned $1.84 earnings per share. Home Depot’s quarterly revenue was up 5.1% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in HD. HC Financial Advisors Inc. purchased a new position in Home Depot during the fourth quarter valued at $3,778,000. BlackRock Inc. grew its stake in shares of Home Depot by 0.8% in the 1st quarter. BlackRock Inc. now owns 72,237,480 shares of the home improvement retailer’s stock worth $12,875,610,000 after buying an additional 604,634 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Home Depot by 3.2% in the 1st quarter. Cetera Advisors LLC now owns 38,800 shares of the home improvement retailer’s stock worth $6,918,000 after acquiring an additional 1,201 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in shares of Home Depot by 54.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 205,035 shares of the home improvement retailer’s stock worth $36,547,000 after acquiring an additional 72,135 shares during the last quarter. Finally, Lee Financial Co lifted its holdings in shares of Home Depot by 36.2% in the 1st quarter. Lee Financial Co now owns 2,534 shares of the home improvement retailer’s stock worth $452,000 after acquiring an additional 673 shares during the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.
In other news, EVP William G. Lennie sold 10,854 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the sale, the executive vice president now directly owns 40,057 shares in the company, valued at approximately $8,077,093.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.32%. Home Depot’s payout ratio is 55.23%.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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