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

Home Depot (NYSE:HD) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 15.100-15.100 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HD. Sanford C. Bernstein initiated coverage on Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. JPMorgan Chase & Co. raised their target price 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. DA Davidson increased their price target on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler raised their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $424.67.

Home Depot Stock Down 1.3 %

NYSE:HD opened at $403.17 on Wednesday. The firm has a 50-day simple moving average of $396.76 and a two-hundred day simple moving average of $365.25. The firm has a market cap of $400.47 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.83 and a beta of 1.01. Home Depot has a fifty-two week low of $287.24 and a fifty-two week high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

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 the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the business posted $4.65 EPS. The company’s revenue was up .6% compared to the same quarter last year. Analysts predict that Home Depot will post 14.99 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is presently 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.