The Home Depot, Inc. (NYSE:HD) Declares Quarterly Dividend of $2.30

The Home Depot, Inc. (NYSE:HD) announced a quarterly dividend on Tuesday, February 25th, RTT News reports. Stockholders of record on Thursday, March 13th will be given a dividend of 2.30 per share by the home improvement retailer on Thursday, March 27th. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25.

Home Depot has raised its dividend by an average of 10.9% per year over the last three years and has raised its dividend every year for the last 15 years. Home Depot has a payout ratio of 52.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Home Depot to earn $15.60 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 57.7%.

Home Depot Stock Down 0.7 %

NYSE HD opened at $390.40 on Thursday. The firm has a market cap of $387.81 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. Home Depot has a one year low of $323.77 and a one year high of $439.37. The stock’s 50 day simple moving average is $401.17 and its 200 day simple moving average is $398.42. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. As a group, sell-side analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler lowered their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America lifted their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus lifted their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

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.