Equities Analysts Offer Predictions for The Home Depot, Inc.’s Q4 2024 Earnings (NYSE:HD)

The Home Depot, Inc. (NYSE:HD) – Investment analysts at DA Davidson issued their Q4 2024 earnings estimates for shares of Home Depot in a research note issued on Wednesday, November 15th. DA Davidson analyst M. Baker forecasts that the home improvement retailer will earn $2.79 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $320.00 target price on the stock. The consensus estimate for Home Depot’s current full-year earnings is $15.13 per share. DA Davidson also issued estimates for Home Depot’s FY2025 earnings at $15.83 EPS.

A number of other equities analysts also recently issued reports on the company. Argus lowered their price target on Home Depot from $400.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, July 26th. Citigroup increased their target price on shares of Home Depot from $327.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Sanford C. Bernstein increased their target price on shares of Home Depot from $314.00 to $328.00 and gave the company a “market perform” rating in a research report on Wednesday, August 16th. Truist Financial dropped their target price on shares of Home Depot from $341.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wedbush increased their target price on shares of Home Depot from $290.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, August 16th. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $339.57.

Home Depot Stock Performance

NYSE:HD opened at $306.44 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.35 and a debt-to-equity ratio of 30.53. The company’s 50-day moving average price is $299.05 and its 200-day moving average price is $306.48. Home Depot has a twelve month low of $274.26 and a twelve month high of $347.25. The company has a market cap of $306.46 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.02 and a beta of 0.93.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 EPS for the quarter, beating the consensus estimate of $3.75 by $0.06. The company had revenue of $37.71 billion for the quarter, compared to analyst estimates of $37.59 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $4.24 earnings per share.

Home Depot announced that its board has authorized a stock buyback plan on Tuesday, August 15th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.73%. Home Depot’s payout ratio is 52.22%.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total value of $1,974,824.02. Following the completion of the transaction, the executive vice president now directly owns 22,749 shares in the company, valued at $7,375,680.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Home Depot news, EVP Teresa Wynn Roseborough sold 6,091 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the completion of the transaction, the executive vice president now directly owns 22,749 shares in the company, valued at $7,375,680.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 12,120 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $325.40, for a total value of $3,943,848.00. Following the transaction, the executive vice president now owns 73,049 shares of the company’s stock, valued at $23,770,144.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,811 shares of company stock worth $6,441,376. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Fin Capital Inc. grew its stake in shares of Home Depot by 0.3% in the 2nd quarter. Blue Fin Capital Inc. now owns 8,966 shares of the home improvement retailer’s stock valued at $2,785,000 after buying an additional 31 shares during the period. Washington Trust Advisors Inc. grew its stake in shares of Home Depot by 0.4% in the 2nd quarter. Washington Trust Advisors Inc. now owns 7,151 shares of the home improvement retailer’s stock valued at $2,221,000 after buying an additional 32 shares during the period. Key Financial Inc grew its stake in shares of Home Depot by 0.6% in the 2nd quarter. Key Financial Inc now owns 5,198 shares of the home improvement retailer’s stock valued at $1,615,000 after buying an additional 32 shares during the period. Blume Capital Management Inc. grew its stake in shares of Home Depot by 7.7% in the 2nd quarter. Blume Capital Management Inc. now owns 445 shares of the home improvement retailer’s stock valued at $138,000 after buying an additional 32 shares during the period. Finally, JB Capital LLC grew its stake in shares of Home Depot by 0.5% in the 2nd quarter. JB Capital LLC now owns 6,527 shares of the home improvement retailer’s stock valued at $2,027,000 after buying an additional 33 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.