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

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

Home Depot has raised its dividend by an average of 11.7% per year over the last three years and has raised its dividend annually for the last 15 consecutive 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 Down 1.1 %

NYSE HD traded down $4.47 during trading hours on Thursday, reaching $405.72. 3,129,521 shares of the company’s stock traded hands, compared to its average volume of 3,381,218. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The firm has a 50-day simple moving average of $397.67 and a 200 day simple moving average of $365.56. Home Depot has a 52-week low of $302.34 and a 52-week high of $421.56. The firm has a market cap of $403.00 billion, a PE ratio of 27.86, a PEG 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 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the firm posted $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that Home Depot will post 14.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HD has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday. Truist Financial raised their target price on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. One investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.