Home Depot (NYSE:HD) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Home Depot (NYSE:HD) issued its quarterly earnings results on Tuesday. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14, Briefing.com reports. The company had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $3.81 EPS. Home Depot updated its FY 2024 guidance to 15.100-15.100 EPS.

Home Depot Trading Up 2.1 %

NYSE HD traded up $8.55 on Wednesday, hitting $411.63. 149,690 shares of the stock were exchanged, compared to its average volume of 3,369,029. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a fifty day moving average price of $396.76 and a two-hundred day moving average price of $365.25. The firm has a market capitalization of $408.87 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 52-week low of $300.14 and a 52-week high of $421.56.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Analysts Set New Price Targets

Several analysts recently commented on HD shares. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Melius Research initiated coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Guggenheim raised their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $424.67.

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.