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

The Home Depot, Inc. (NYSE:HD) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Wednesday, November 27th will be paid 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% annually over the last three years and has raised 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. Equities research 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 Price Performance

Shares of Home Depot stock opened at $405.60 on Friday. The firm 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 quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company’s fifty day simple moving average is $397.67 and its two-hundred day simple moving average is $365.56.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 EPS. As a group, equities analysts expect that Home Depot will post 15.06 EPS for the current year.

Wall Street Analyst Weigh In

HD has been the topic of a number of research reports. Bank of America lifted their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Evercore ISI lifted their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial upped their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $426.00.

About Home Depot

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.