Home Depot (NYSE:HD) announced that its Board of Directors has initiated a share repurchase plan, which permits the company to repurchase $15.00 billion in outstanding shares on Wednesday, December 6th, EventVestor reports. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of brokerages have issued reports on HD. Morgan Stanley set a $185.00 target price on Home Depot and gave the company a “buy” rating in a research report on Friday. Deutsche Bank boosted their target price on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer reissued a “buy” rating on shares of Home Depot in a research report on Thursday. SunTrust Banks upped their price objective on Home Depot from $167.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Sanford C. Bernstein set a $170.00 price objective on Home Depot and gave the stock a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $182.06.

Home Depot (NYSE:HD) opened at $183.41 on Monday. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. Home Depot has a 12 month low of $131.10 and a 12 month high of $186.31. The stock has a market cap of $214,180.00, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Home Depot’s revenue for the quarter was up 8.1% on a year-over-year basis. equities research analysts forecast that Home Depot will post 7.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.94%. Home Depot’s dividend payout ratio is presently 49.38%.

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About Home Depot

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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