The Home Depot (NYSE:HD) announced that its Board of Directors has approved a stock buyback plan on Thursday, May 20th, RTT News reports. The company plans to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
A number of research firms have issued reports on HD. Zelman & Associates downgraded shares of The Home Depot from a “buy” rating to a “hold” rating in a research report on Thursday, April 15th. Loop Capital upped their target price on shares of The Home Depot from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley upped their target price on shares of The Home Depot from $340.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group upped their target price on shares of The Home Depot from $325.00 to $374.00 and gave the company a “buy” rating in a research report on Thursday, May 20th. Finally, Credit Suisse Group upped their price target on The Home Depot from $319.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $323.07.
The Home Depot stock traded up $1.91 during midday trading on Tuesday, reaching $316.75. The company’s stock had a trading volume of 3,480,708 shares, compared to its average volume of 4,485,077. The Home Depot has a 52 week low of $234.31 and a 52 week high of $345.69. The company has a current ratio of 1.11, a quick ratio of 0.51 and a debt-to-equity ratio of 19.85. The business has a 50-day moving average price of $323.47 and a 200-day moving average price of $286.85. The stock has a market cap of $340.58 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.04.
The Home Depot (NYSE:HD) last announced its quarterly earnings results on Monday, May 17th. The home improvement retailer reported $3.86 EPS for the quarter, beating the Zacks’ consensus estimate of $3.08 by $0.78. The Home Depot had a return on equity of 963.88% and a net margin of 10.45%. The firm had revenue of $37.50 billion for the quarter, compared to analyst estimates of $33.68 billion. During the same period last year, the firm posted $2.08 earnings per share. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, research analysts predict that The Home Depot will post 13.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd will be paid a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, June 2nd. The Home Depot‘s payout ratio is 54.86%.
The Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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