The Home Depot, Inc. (NYSE:HD) to Issue Quarterly Dividend of $2.25

The Home Depot, Inc. (NYSE:HD) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders of record on Wednesday, November 27th will be given a dividend of 2.25 per share by the home improvement retailer on Thursday, December 12th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%.

Home Depot has raised its dividend by an average of 11.7% per year over the last three years and has raised its dividend every year for the last 15 years. Home Depot has a dividend payout ratio of 57.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Home Depot to earn $15.56 per share next year, which means the company should continue to be able to cover its $9.00 annual dividend with an expected future payout ratio of 57.8%.

Home Depot Stock Down 1.1 %

HD opened at $405.60 on Friday. The company has a 50 day moving average of $397.67 and a 200 day moving average of $365.56. The company has a market cap of $402.88 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. Home Depot has a 12 month low of $302.34 and a 12 month high of $421.56. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $3.81 EPS. On average, sell-side analysts expect that Home Depot will post 15.06 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on HD shares. DA Davidson raised their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Truist Financial increased their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein started coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Melius Research started coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Finally, Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Company Profile

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.