Jefferies Financial Group Weighs in on The Home Depot, Inc.’s Q2 2023 Earnings (NYSE:HD)

The Home Depot, Inc. (NYSE:HDGet Rating) – Stock analysts at Jefferies Financial Group decreased their Q2 2023 earnings per share (EPS) estimates for Home Depot in a note issued to investors on Tuesday, May 17th. Jefferies Financial Group analyst J. Matuszewski now forecasts that the home improvement retailer will post earnings per share of $4.98 for the quarter, down from their previous forecast of $4.99. Jefferies Financial Group has a “Buy” rating and a $400.00 price objective on the stock. Jefferies Financial Group also issued estimates for Home Depot’s Q3 2023 earnings at $4.12 EPS, Q4 2023 earnings at $3.36 EPS and FY2024 earnings at $17.85 EPS.

Other research analysts have also issued reports about the stock. UBS Group cut their target price on shares of Home Depot from $470.00 to $430.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. The Goldman Sachs Group cut their target price on shares of Home Depot from $413.00 to $402.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. DA Davidson cut their target price on shares of Home Depot from $354.00 to $330.00 and set a “na” rating for the company in a research report on Wednesday. Citigroup cut their target price on shares of Home Depot from $377.00 to $327.00 in a research report on Friday, May 13th. Finally, Morgan Stanley cut their target price on shares of Home Depot from $420.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Home Depot has an average rating of “Buy” and an average price target of $372.91.

Shares of NYSE:HD opened at $285.18 on Thursday. Home Depot has a 52-week low of $280.63 and a 52-week high of $420.61. The firm has a fifty day moving average of $308.48 and a 200 day moving average of $351.77. The firm has a market capitalization of $294.70 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.24 and a current ratio of 1.01.

Home Depot (NYSE:HDGet Rating) last released its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.41. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $36.78 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 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.86 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 2.66%. This is an increase from Home Depot’s previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 9th. Home Depot’s dividend payout ratio is 48.25%.

In related news, EVP Hector A. Padilla sold 504 shares of the 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 through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Home Depot by 0.4% in the first quarter. State Street Corp now owns 45,622,114 shares of the home improvement retailer’s stock worth $13,656,067,000 after buying an additional 180,532 shares in the last quarter. Geode Capital Management LLC grew its holdings in Home Depot by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock worth $7,002,662,000 after purchasing an additional 701,811 shares during the period. Morgan Stanley grew its holdings in Home Depot by 3.8% in the third quarter. Morgan Stanley now owns 11,938,903 shares of the home improvement retailer’s stock worth $3,919,065,000 after purchasing an additional 433,190 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after purchasing an additional 1,361,660 shares during the period. Finally, Norges Bank purchased a new stake in Home Depot in the fourth quarter worth about $4,325,629,000. 70.61% of the stock is owned by institutional investors.

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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