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The Home Depot, Inc. (NYSE:HD – Get Rating) – Stock analysts at Oppenheimer cut their FY2024 EPS estimates for Home Depot in a research note issued to investors on Thursday, February 23rd. Oppenheimer analyst B. Nagel now forecasts that the home improvement retailer will earn $15.78 per share for the year, down from their previous forecast of $16.84. Oppenheimer has a “Outperform” rating and a $400.00 price target on the stock. The consensus estimate for Home Depot’s current full-year earnings is $15.90 per share. Oppenheimer also issued estimates for Home Depot’s FY2026 earnings at $18.81 EPS.

Several other research firms have also commented on HD. Raymond James lowered shares of Home Depot from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 16th. Telsey Advisory Group reduced their price objective on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Barclays reduced their price objective on shares of Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Finally, MKM Partners reduced their price objective on shares of Home Depot from $330.00 to $312.00 in a report on Wednesday, November 9th. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $331.45.

Home Depot Stock Down 0.9 %

Home Depot stock opened at $296.66 on Monday. The company has a 50-day simple moving average of $318.63 and a 200-day simple moving average of $305.96. The firm has a market capitalization of $303.70 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.64 and a beta of 0.93. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. Home Depot has a one year low of $264.51 and a one year high of $347.25.

Home Depot (NYSE:HD – Get Rating) last released its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.04. The firm had revenue of $35.83 billion during the quarter, compared to analyst estimates of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.21 earnings per share.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently modified their holdings of the business. BCK Partners Inc. bought a new stake in Home Depot in the 1st quarter valued at approximately $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot in the 1st quarter valued at approximately $27,000. Ergoteles LLC acquired a new position in shares of Home Depot during the 1st quarter worth approximately $1,554,000. Equitable Holdings Inc. increased its position in shares of Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after purchasing an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after purchasing an additional 24,640 shares during the last quarter. Institutional investors own 68.31% of the company’s stock.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be issued a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, March 8th. This is a boost from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s payout ratio is 45.56%.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

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Earnings History and Estimates for Home Depot (NYSE:HD)

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