Home Depot stockholders received some good news from the home-improvement giant, as the company announced that it beat analysts expectations, earning $1.17 per share in the fourth quarter of 2015, reported NASDAQ.
Analysts have expected the company to only earn about $1.10 per share in the fourth quarter of the previous year. Overall, revenue for the quarter came at an impressive $21 billion, versus the estimated earnings of $20.39 billion.
As a result, prominent international financial organizations have given Home Depot their approval, with the Deutsche Bank upping their price target on the company from $124 to $135, while giving the company's stocks a "hold" rating, reported Senegal ACTU News.
In lieu of the impressive results of Home Depot's Q4 earnings, Craig A. Menear, CEO and president of the company, announced a 17 percent increase in its quarterly dividend to $0.69 per share.
"As a testament to our commitment to creating value for our shareholders, the board has increased the dividend for the seventh consecutive year," he said, according to The Street Insider.
The CEO further stated that shareholders would be paid the dividend on March 24, 2016, to shareholders of record at the close of business on March 10.
Home Depot also announced that it is expecting to earn $6.12 to $6.18 per share on revenue of $88.084 billion to $88.838 billion in the 2016 fiscal year. If the company continues to perform beyond what is expected, such figures might very well be exceeded once more.
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