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The Home Depot, Inc. (NYSE:HD – Get Rating) – Equities research analysts at Telsey Advisory Group dropped their Q1 2024 earnings per share estimates for shares of Home Depot in a research note issued on Thursday, February 16th. Telsey Advisory Group analyst J. Feldman now anticipates that the home improvement retailer will post earnings of $4.12 per share for the quarter, down from their prior forecast of $4.26. The consensus estimate for Home Depot’s current full-year earnings is $16.63 per share. Telsey Advisory Group also issued estimates for Home Depot’s Q2 2024 earnings at $5.07 EPS, Q4 2024 earnings at $3.47 EPS and FY2024 earnings at $17.03 EPS.

Several other brokerages also recently commented on HD. Barclays began coverage on Home Depot in a report on Tuesday, February 7th. They set an “equal weight” rating and a $323.00 target price on the stock. TheStreet raised Home Depot from a “c+” rating to a “b” rating in a research note on Tuesday, November 15th. Wedbush dropped their price objective on Home Depot to $280.00 in a research note on Wednesday, November 16th. Cowen boosted their price objective on Home Depot from $350.00 to $379.00 and gave the company an “outperform” rating in a research note on Tuesday, December 13th. Finally, Guggenheim dropped their price objective on Home Depot to $335.00 in a research note on Thursday, November 17th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.65.

Home Depot Stock Down 0.4 %

Shares of HD opened at $320.10 on Friday. The company has a market capitalization of $327.70 billion, a PE ratio of 19.36, a PEG ratio of 1.66 and a beta of 0.93. Home Depot has a 12 month low of $264.51 and a 12 month high of $350.60. The stock’s 50-day moving average price is $321.47 and its two-hundred day moving average price is $306.08. The company has a current ratio of 1.39, a quick ratio of 0.33 and a debt-to-equity ratio of 32.16.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.13. The business had revenue of $38.87 billion for the quarter, compared to analyst estimates of $37.96 billion. Home Depot had a negative return on equity of 3,656.69% and a net margin of 10.87%. Home Depot’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.92 EPS.

Hedge Funds Weigh In On Home Depot

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

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.

Further Reading

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

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