Home Depot (NYSE:HD) Announces Earnings Results, Beats Expectations By $0.14 EPS

Home Depot (NYSE:HD) released its quarterly earnings results on Tuesday. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14, Briefing.com reports. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.81 EPS. Home Depot updated its FY 2024 guidance to 15.100-15.100 EPS.

Home Depot Trading Up 2.1 %

NYSE HD traded up $8.65 on Wednesday, reaching $411.73. The company had a trading volume of 458,965 shares, compared to its average volume of 3,370,434. The firm has a market cap of $408.97 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 2.83 and a beta of 1.01. Home Depot has a fifty-two week low of $300.14 and a fifty-two week high of $421.56. The business has a 50 day moving average of $396.76 and a two-hundred day moving average of $365.25. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. Home Depot’s payout ratio is 60.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Mizuho increased their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Stifel Nicolaus lifted their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday. Sanford C. Bernstein assumed coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Finally, UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.67.

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.