The Home Depot, Inc. (NYSE:HD) Announces Dividend Increase – $2.30 Per Share

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 given a dividend of 2.30 per share by the home improvement retailer on Thursday, March 27th. This represents a $9.20 annualized dividend and a dividend yield of 2.34%. This is a boost from Home Depot’s previous quarterly dividend of $2.25.

Home Depot has raised its dividend payment by an average of 10.9% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Home Depot has a payout ratio of 52.6% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

HD opened at $393.15 on Wednesday. The firm has a market capitalization of $390.54 billion, a PE ratio of 26.68, a price-to-earnings-growth 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 business’s 50-day moving average is $401.23 and its two-hundred day moving average is $398.48. Home Depot has a 1 year low of $323.77 and a 1 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 net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the firm earned $2.82 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on HD shares. Truist Financial decreased their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada increased their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday. Finally, Barclays lifted their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $435.92.

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.