The Home Depot, Inc. (NYSE:HD) Increases Dividend to $2.30 Per Share

The Home Depot, Inc. (NYSE:HD) announced a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 2.41%. This is a boost from Home Depot’s previous quarterly dividend of $2.25.

Home Depot has increased its dividend payment by an average of 10.9% per year over the last three years and has increased its dividend every year for the last 15 years. Home Depot has a dividend payout ratio of 52.6% meaning 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 Stock Down 1.1 %

Shares of NYSE:HD opened at $381.12 on Tuesday. The firm has a fifty day moving average price of $401.53 and a two-hundred day moving average price of $398.16. The company has a market cap of $378.59 billion, a price-to-earnings ratio of 25.89, a PEG 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. Home Depot has a one year low of $323.77 and a one year high of $439.37.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays boosted their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Wells Fargo & Company increased their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.