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

The Home Depot, Inc. (NYSE:HD) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Stockholders of record on Thursday, March 13th will be paid a dividend of 2.30 per share by the home improvement retailer on Thursday, March 27th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Home Depot’s previous quarterly dividend of $2.25.

Home Depot has increased 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 dividend payout ratio of 52.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.1 %

HD opened at $381.12 on Tuesday. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm has a market capitalization of $378.59 billion, a PE ratio of 25.89, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company’s 50-day moving average is $401.53 and its 200 day moving average is $398.16.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.07 billion. During the same period in the prior year, the business posted $2.82 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, research analysts predict that Home Depot will post 15.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Stifel Nicolaus raised their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Truist Financial raised their price target on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Mizuho boosted their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada increased their price objective on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Finally, Evercore ISI boosted their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $433.44.

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.