Home Depot profit beats estimates, sets $15 bln buyback

A number of hedge funds have recently added to or reduced their stakes in HD. For HD, the company now has $3.59 Billion of cash on the books, which is offset by $543 Million current liabilities.

Home Depot also expects comps to rise approximately 4.6% in the current fiscal year.

Considering the performance, Office Depot, Inc. There are 0 equity research firms advocating a Hold and 0 consider it Sell. Mr. Kenneth G Langone is one of the biggest insider owners in The Home Depot, Inc. (The) in a research note on Tuesday. Movements above 70 are interpreted as indicating overbought conditions; conversely moves underneath 30 notify oversold conditions.

Office Depot, Inc. (NASDAQ:ODP) topped its 52-week high price target of 7.91 on April 7, 2016. Vanguard Group Inc is the second biggest holder with 77 million shares now valued at 9.88 B million whilst State Street Corp has 54 million shares valued at 6.89 B million. (NYSE:HD) opened at 145.02 on Wednesday. The stock floated in a price range of $26.12 to $31.49, with market capitalization of $1.75B.

The 5 analysts offering 12-month price forecasts for Office Depot Inc have a median target of 4.65, with a high estimate of 5.00 and a low estimate of 4.00. The firm shows a 20-Day Simple Moving Average of 3.29% with a 200-Day Simple Moving Average of 9.01%. The home improvement store posted diluted net earnings per share of $1.44 in the quarter on revenues of $22.21 billion. Any retailer the size of Home Depot generating comp sales growth above 5% will produce massive margins and profits. The business had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.74 billion. During the same quarter previous year, the business posted $1.17 EPS.

Analysts on average are expecting revenue target $27,662.00M for next quarter (Quarter Ending_Jul-17).

The Stock has Weekly volatility of 1.47% and monthly volatility of 1.25%. This represents a $3.56 annualized dividend and a yield of 2.45%. Home Depot, Inc. (The)'s payout ratio is now 44.66%.

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This report was posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another domain, it was stolen and reposted in violation of US & global trademark and copyright legislation. For FY'17, the retailer indicated buybacks to the tune of $5 billion out of the latest authorization of $15 billion by the company's board. The shares were bought at an average price of $129.87 per share, with a total value of $1,948,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. (The) during the fourth quarter worth about $103,000.

Investors expected a price target of 0.08 for this quarter.

Although Home Depot hammered estimates for the quarter and for the year, the outlook is more muted. (The) by 10.4% in the third quarter. Cable Hill Partners LLC now owns 1,116 shares of the home improvement retailer's stock valued at $145,000 after buying an additional 105 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in Home Depot, Inc. (The) by 14,902.0% in the fourth quarter.

Home Depot said its new buyback plan replaced the $4 billion of share repurchases left under its previous plan. This is a positive change from Home Depot, Inc.

Net income in the quarter plunged 17.9% to $3.8 billion or $1.22 per diluted share compared to $4.6 billion or $1.43 per share in the same quarter past year.

Thanks to improvements in delivery and fulfillment and omnichannel services, stickiness rendered by increases in its credit card membership, as well as inventory improvements, Home Depot is poised to continue its success - bumping up against its own performance when it comes to growth, according to Helgesen. Home Depot stores cater to do-it-yourselfers, as well as home improvement, construction and building maintenance professionals.