Home Depot (NYSE:HD) Shares Down 0.9% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price traded down 0.9% during trading on Monday . The stock traded as low as $393.84 and last traded at $393.11. 563,934 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,213,647 shares. The stock had previously closed at $396.60.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HD shares. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Stifel Nicolaus upped their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Robert W. Baird cut their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Evercore ISI increased their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Trading Down 1.9 %

The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $386.45 billion, a P/E ratio of 26.43, a P/E/G ratio of 4.03 and a beta of 1.05. The business’s fifty day simple moving average is $401.36 and its two-hundred day simple moving average is $399.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the company earned $2.82 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. Home Depot’s payout ratio is currently 61.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Home Depot in the 4th quarter valued at $5,032,910,000. Raymond James Financial Inc. acquired a new stake in shares of Home Depot during the 4th quarter valued at about $2,212,546,000. Proficio Capital Partners LLC increased its stake in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the period. Northern Trust Corp raised its position in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in Home Depot during the fourth quarter worth about $471,189,000. 70.86% of the stock is owned by institutional investors.

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.