Home Depot (NYSE:HD) Updates FY 2023 Earnings Guidance

Home Depot (NYSE:HD – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share guidance of $14.52-$15.52 for the period, compared to the consensus earnings per share estimate of $15.74. The company issued revenue guidance of $149.53 billion-$154.25 billion, compared to the consensus revenue estimate of $156.34 billion.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HD. Cowen dropped their price target on shares of Home Depot from $379.00 to $360.00 and set an outperform rating on the stock in a research note on Wednesday, February 22nd. Cowen dropped their price target on shares of Home Depot from $379.00 to $360.00 and set an outperform rating on the stock in a research note on Wednesday, February 22nd. Credit Suisse Group dropped their price target on shares of Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. Truist Financial dropped their price target on shares of Home Depot from $352.00 to $318.00 in a research note on Wednesday, May 17th. Finally, Wells Fargo & Company decreased their target price on shares of Home Depot from $350.00 to $325.00 in a report on Wednesday, May 17th. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of Moderate Buy and an average target price of $323.25.

Home Depot Trading Up 0.8 %

NYSE:HD traded up $2.31 during trading hours on Friday, reaching $289.06. The company’s stock had a trading volume of 795,452 shares, compared to its average volume of 3,897,934. The firm has a market capitalization of $290.62 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.87 and a beta of 0.93. The firm has a 50-day simple moving average of $291.00 and a 200-day simple moving average of $306.14. Home Depot has a 1 year low of $264.51 and a 1 year high of $347.25. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. The business had revenue of $37.26 billion for the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.09 EPS. Research analysts expect that Home Depot will post 14.98 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Wednesday, May 31st. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

Insiders Place Their Bets

In other news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total transaction of $440,221.18. Following the sale, the executive vice president now owns 13,958 shares of the company’s stock, valued at approximately $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of large investors have recently modified their holdings of HD. Fairfield Bush & CO. bought a new stake in shares of Home Depot during the 1st quarter valued at about $27,000. KB Financial Partners LLC bought a new stake in Home Depot during the first quarter worth about $28,000. Studio Investment Management LLC bought a new stake in Home Depot during the fourth quarter worth about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the first quarter worth about $37,000. Finally, Alpha Paradigm Partners LLC bought a new stake in Home Depot during the third quarter worth about $45,000. Institutional investors own 68.31% of the company’s stock.

About Home Depot

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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.