Zacks: Analysts Anticipate The Home Depot, Inc. (NYSE:HD) Will Post Quarterly Sales of $36.59 Billion

Brokerages expect The Home Depot, Inc. (NYSE:HDGet Rating) to post sales of $36.59 billion for the current quarter, according to Zacks. Ten analysts have issued estimates for Home Depot’s earnings. The lowest sales estimate is $34.60 billion and the highest is $37.56 billion. Home Depot posted sales of $37.50 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.4%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Home Depot will report full-year sales of $153.10 billion for the current financial year, with estimates ranging from $150.86 billion to $154.77 billion. For the next fiscal year, analysts expect that the firm will post sales of $158.70 billion, with estimates ranging from $155.36 billion to $161.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Home Depot.

Home Depot (NYSE:HDGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.01. The firm had revenue of $35.72 billion for the quarter, compared to analysts’ expectations of $34.85 billion. Home Depot had a net margin of 10.87% and a return on equity of 2,082.76%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.74 earnings per share.

A number of equities analysts have recently weighed in on HD shares. StockNews.com started coverage on shares of Home Depot in a research report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $406.00 to $365.00 in a report on Wednesday, February 23rd. Truist Financial dropped their price objective on shares of Home Depot from $448.00 to $405.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. TheStreet lowered shares of Home Depot from a “b” rating to a “c+” rating in a report on Tuesday, February 22nd. Finally, Morgan Stanley dropped their price objective on shares of Home Depot from $420.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, February 23rd. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Buy” and a consensus price target of $387.08.

In other Home Depot news, EVP Hector A. Padilla sold 504 shares of the business’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $309.80, for a total value of $156,139.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Bristol Gate Capital Partners Inc. increased its position in Home Depot by 2.9% during the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 262,620 shares of the home improvement retailer’s stock worth $86,207,000 after purchasing an additional 7,310 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Home Depot by 18.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,417,943 shares of the home improvement retailer’s stock worth $1,122,117,000 after purchasing an additional 521,895 shares in the last quarter. ARGI Investment Services LLC increased its position in Home Depot by 4.2% in the 4th quarter. ARGI Investment Services LLC now owns 9,069 shares of the home improvement retailer’s stock valued at $3,764,000 after acquiring an additional 366 shares during the period. SG Americas Securities LLC increased its position in Home Depot by 29.6% in the 3rd quarter. SG Americas Securities LLC now owns 178,283 shares of the home improvement retailer’s stock valued at $58,523,000 after acquiring an additional 40,707 shares during the period. Finally, Independent Advisor Alliance increased its position in Home Depot by 1.6% in the 3rd quarter. Independent Advisor Alliance now owns 87,665 shares of the home improvement retailer’s stock valued at $28,777,000 after acquiring an additional 1,347 shares during the period. 69.52% of the stock is owned by institutional investors.

Shares of NYSE HD traded down $5.90 during midday trading on Wednesday, reaching $304.52. 4,569,196 shares of the stock were exchanged, compared to its average volume of 5,466,881. The business has a 50-day simple moving average of $323.62 and a two-hundred day simple moving average of $359.46. The company has a market capitalization of $314.68 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.95 and a beta of 1.04. Home Depot has a 12 month low of $293.59 and a 12 month high of $420.61. The company has a debt-to-equity ratio of 35.47, a current ratio of 1.01 and a quick ratio of 0.24.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Thursday, March 10th were issued a dividend of $1.90 per share. This is an increase from Home Depot’s previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 9th. This represents a $7.60 annualized dividend and a dividend yield of 2.50%. Home Depot’s payout ratio is presently 48.97%.

Home Depot Company Profile (Get Rating)

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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Earnings History and Estimates for Home Depot (NYSE:HD)

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