Home Depot (NYSE:HD) Issues FY 2024 Earnings Guidance

Home Depot (NYSE:HD) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 14.510-14.810 for the period, compared to the consensus estimate of 15.200. The company issued revenue guidance of $156.5 billion-$158.0 billion, compared to the consensus revenue estimate of $158.6 billion.

Home Depot Stock Performance

NYSE HD opened at $350.07 on Wednesday. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a market cap of $347.13 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The stock’s 50 day simple moving average is $348.96 and its 200-day simple moving average is $353.14.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 earnings per share. As a group, equities research analysts anticipate that Home Depot will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wedbush reissued an outperform rating and set a $410.00 price objective on shares of Home Depot in a research note on Friday, May 10th. DA Davidson raised shares of Home Depot from a neutral rating to a buy rating and lifted their target price for the stock from $352.00 to $395.00 in a research note on Wednesday, June 26th. Stifel Nicolaus lifted their price target on shares of Home Depot from $374.00 to $380.00 and gave the company a hold rating in a research report on Monday, July 15th. TD Cowen reduced their target price on Home Depot from $440.00 to $420.00 and set a buy rating on the stock in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company lowered their price target on Home Depot from $425.00 to $400.00 and set an overweight rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of Moderate Buy and a consensus price target of $384.00.

Insider Activity

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. 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.