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

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

A number of analysts recently issued reports on HD shares. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Piper Sandler increased their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. Finally, Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

HD stock traded up $0.15 during mid-day trading on Friday, reaching $405.87. The company had a trading volume of 393,087 shares, compared to its average volume of 3,368,742. The stock has a market capitalization of $403.15 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a one year low of $302.34 and a one year high of $421.56. The stock’s 50-day simple moving average is $398.55 and its two-hundred day simple moving average is $365.84.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm 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 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.81 earnings per share. Research analysts anticipate that Home Depot will post 15.06 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. Home Depot’s payout ratio is currently 61.14%.

About Home Depot

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.