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

by · The Cerbat Gem

Home Depot (NYSE:HD – Get Free Report) released its quarterly earnings data on Tuesday. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14, Briefing.com reports. The business had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.81 earnings per share. Home Depot updated its FY 2024 guidance to 15.100-15.100 EPS.

Home Depot Stock Up 1.8 %

NYSE:HD opened at $410.39 on Thursday. Home Depot has a fifty-two week low of $300.14 and a fifty-two week high of $421.56. The stock has a market capitalization of $407.64 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.79 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. The company’s 50-day simple moving average is $396.76 and its 200-day simple moving average is $365.25.

Analysts Set New Price Targets

Several research analysts recently commented on HD shares. Morgan Stanley lifted their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Melius Research started 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. Finally, Stifel Nicolaus increased their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Read Our Latest Stock Report on HD

About Home Depot

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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.

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