The Home Depot, Inc. (HD) To Go Ex-Dividend on March 13th

The Home Depot, Inc. (NYSE:HD) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors of record on Thursday, March 13th will be paid 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 dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25.

Home Depot has raised its dividend by an average of 10.9% 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 52.6% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of NYSE HD opened at $390.40 on Thursday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The stock’s fifty day simple moving average is $401.17 and its 200 day simple moving average is $398.42. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results 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. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 EPS. As a group, sell-side analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler lowered their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America lifted their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays boosted their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $436.50.

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.