Home Depot’s Q4 net profit rose 29% $1 Billion or $0.68 per share on revenue of $18.2 Billion, an increase of 13.9%.
The company also announced plans to repurchase up to $17 Billion in stock and raise its dividend 35% to $0.39 a share. However Home Depot did reduce its forecast for this year to $3.37 per share below the consensus analyst forecast of $3.49 per share.
SiAlpha has a NEGATIVE short-term rating on the stock with price target of $62.00 per share over next three months.
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