Saturday, 20 October, 2018

Home Depot's profit tops on higher sales of big-ticket items

Orlando Vargas | 17 May, 2017, 14:48

Robust consumer spending and the arrival of the spring gardening season pushed Home Depot's first-quarter profits and revenue beyond most expectations and the company raised its earnings forecast for the year. Affinity Invest Llc owns 119,454 shares for 1.51% of their portfolio. After a recent check, company stock has been trading near the $157.04 mark. Wedbush reissued a neutral rating and issued a $145.00 price objective on shares of Home Depot in a report on Friday, February 10th. Advantage Investment Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $103,000. This represents a year-on-year increase of earning per share of $0.27 from corresponding quarter of last year. Piershale Financial Group Inc. now owns 2,270 shares of the home improvement retailer's stock worth $292,000 after buying an additional 12 shares during the last quarter. Taken from Schwab Charles Investment Management latest Adv, the fund reported to have 200 full and part-time employees. The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The fund owned 71,400 shares of the home improvement retailer's stock after selling 270 shares during the period. The firm has a market capitalization of $190.37 billion, a price-to-earnings ratio of 24.54 and a beta of 1.09. Searle & CO. now owns 5,273 shares of the home improvement retailer's stock valued at $707,000 after buying an additional 250 shares during the last quarter.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 21st.

The Home Depot (NYSE:HD) revealed net income for the first quarter of $ 2.01 billion or $ 1.67 per share, compared to income of $ 1.80 billion or $ 1.44 per share, in the year-ago period. Home Depot had a net margin of 8.23% and a return on equity of 123.29%.

Revenues: Total revenue increased 4.9% year over year to $23,887 million and also surpassed the Zacks Consensus Estimate of $23,745 million.

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The company also raised its earnings forecast for the year ending January 2018 to $7.15 per share from $7.13, citing anticipated share repurchases. (NYSE:HD), 14 have Buy rating, 0 Sell and 8 Hold. Waddell Reed Financial Inc owns 3.86M shares or 1.13% of their United States portfolio. If you are accessing this story on another site, it was stolen and republished in violation of US and worldwide trademark & copyright law. The correct version of this news story can be read at [[permalink]].

A number of research firms recently issued reports on HD. Vetr has "Buy" rating and $125.7 target. "I have confidence that the bullish macro data will line up with a good report from Home Depot". Credit Suisse Group AG set a $148.00 target price on Home Depot and gave the stock a "buy" rating in a research report on Saturday, February 18th. UBS maintained Home Depot Inc (NYSE:HD) on Wednesday, November 18 with "Buy" rating.

Among 2 analysts covering Telephone and Data Systems (NYSE:TDS), 0 have Buy rating, 0 Sell and 2 Hold. The stock has a consensus rating of "Buy" and a consensus target price of $154.23. Home Depot Inc now has $189.47B valuation. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. Or even Walmart. They are doing so at Home Depot - and that's why it is a bright spot in an otherwise gloomy time for traditional retailers.

Want to see what other hedge funds are holding HD?

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