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

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

Home Depot Trading Down 1.3 %

NYSE HD opened at $403.17 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The business has a 50 day moving average price of $396.76 and a 200-day moving average price of $365.25. Home Depot has a 52 week low of $287.24 and a 52 week high of $421.56. The company has a market cap of $400.47 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 2.83 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Home Depot will post 14.99 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.23%. Home Depot’s payout ratio is 60.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HD shares. Morgan Stanley upped their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. TD Cowen lifted their target price on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein began coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective on the stock. Finally, Truist Financial raised their target price on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.