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

The Home Depot, Inc. (NYSE:HD) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Wednesday, November 27th will be given 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 yield of 2.20%. The ex-dividend date is Wednesday, November 27th.

Home Depot has raised its dividend payment 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 $15.56 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 Stock Up 0.6 %

Shares of NYSE:HD opened at $408.25 on Friday. The company’s fifty day moving average is $399.51 and its 200-day moving average is $366.34. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. Home Depot has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a market capitalization of $405.51 billion, a PE ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS 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 period in the previous year, the business earned $3.81 earnings per share. Equities research analysts predict that Home Depot will post 15.06 earnings per share for the current fiscal year.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Melius Research assumed coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.