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

Home Depot (NYSE:HD) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 15.100-15.100 for the period, compared to the consensus earnings per share estimate of 14.840. The company issued revenue guidance of $158.8 billion-$158.8 billion, compared to the consensus revenue estimate of $157.4 billion.

Analysts Set New Price Targets

A number of research firms recently weighed in on HD. Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday. TD Cowen boosted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $422.81.

Home Depot Stock Up 0.6 %

Shares of Home Depot stock opened at $408.29 on Tuesday. The firm has a market cap of $405.55 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 2.81 and a beta of 1.01. The stock has a 50-day simple moving average of $395.99 and a 200-day simple moving average of $364.77. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. Home Depot has a 52-week low of $287.24 and a 52-week high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping 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 9.71% and a return on equity of 733.61%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $4.65 earnings per share. On average, equities research analysts expect that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s payout ratio is 60.57%.

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.