Home Depot (NYSE:HD) Announces Earnings Results

Home Depot (NYSE:HD) posted its quarterly earnings data on Tuesday. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08, RTT News reports. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 EPS. Home Depot updated its FY 2024 guidance to 14.510-14.810 EPS.

Home Depot Price Performance

Shares of HD stock traded up $5.52 during trading hours on Thursday, reaching $361.18. The stock had a trading volume of 564,012 shares, compared to its average volume of 3,415,747. The stock’s fifty day simple moving average is $349.46 and its 200 day simple moving average is $353.16. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87. The firm has a market capitalization of $358.15 billion, a PE ratio of 23.85, a PEG ratio of 2.48 and a beta of 0.98.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus cut their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research report on Friday, May 10th. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. Finally, Raymond James reiterated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $384.00.

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.