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

The Home Depot, Inc. (NYSE:HD) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Investors 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 yield of 2.22%.

Home Depot has raised its dividend payment by an average of 11.7% per year over the last three years and has increased its dividend every year for the last 15 years. Home Depot has a payout ratio of 57.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Home Depot to earn $15.54 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 57.9%.

Home Depot Stock Performance

Shares of HD stock traded down $4.47 during trading hours on Thursday, hitting $405.72. 3,129,521 shares of the company were exchanged, compared to its average volume of 3,381,218. Home Depot has a 52-week low of $302.34 and a 52-week 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. The firm has a fifty day simple moving average of $397.67 and a 200 day simple moving average of $365.56. The stock has a market capitalization of $403.00 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.79 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.81 EPS. Research analysts predict that Home Depot will post 14.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HD. Barclays lifted their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. UBS Group lifted their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday. Bank of America upped their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler raised their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.