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

Home Depot (NYSE:HD) released its earnings results on Tuesday. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14, Briefing.com reports. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the previous year, the company posted $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. Home Depot updated its FY 2024 guidance to 15.100-15.100 EPS.

Home Depot Stock Up 1.8 %

Shares of HD opened at $410.39 on Thursday. Home Depot has a 12-month low of $300.14 and a 12-month high of $421.56. The business’s 50 day moving average is $396.76 and its 200 day moving average is $365.25. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $407.64 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.79 and a beta of 1.01.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Sanford C. Bernstein initiated coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. Royal Bank of Canada boosted their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday. Barclays upped their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $426.00.

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.