The Home Depot, Inc. (HD) to Issue Quarterly Dividend of $2.25 on December 12th

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 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Wednesday, November 27th.

Home Depot has increased its dividend by an average of 11.7% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Home Depot has a dividend payout ratio of 57.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Home Depot stock opened at $408.25 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. Home Depot has a 1 year low of $302.34 and a 1 year high of $421.56. The stock has a 50-day moving average price of $399.51 and a 200 day moving average price of $366.34. The company has a market cap of $405.51 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $3.81 earnings per share. As a group, analysts expect that Home Depot will post 15.06 EPS for the current fiscal year.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Royal Bank of Canada upped their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Barclays increased 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. Finally, Morgan Stanley boosted their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price 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.