D.R. Horton, Inc. (NYSE:DHI – Get Free Report)’s stock price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $180.38, but opened at $153.19. D.R. Horton shares last traded at $156.20, with a volume of 1,921,070 shares changing hands.
The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($0.28). D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the previous year, the company posted $4.45 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year.
D.R. Horton Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. D.R. Horton’s payout ratio is 8.17%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on DHI shares. Wells Fargo & Company reduced their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. UBS Group lowered their target price on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research note on Wednesday. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a research report on Tuesday, October 15th. Finally, Citigroup lowered their price objective on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, D.R. Horton presently has a consensus rating of “Moderate Buy” and an average price target of $185.87.
Check Out Our Latest Research Report on DHI
Hedge Funds Weigh In On D.R. Horton
Institutional investors have recently modified their holdings of the company. Bfsg LLC boosted its stake in D.R. Horton by 70.5% in the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after buying an additional 74 shares in the last quarter. RiverPark Advisors LLC bought a new stake in shares of D.R. Horton in the 1st quarter worth approximately $29,000. Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at $31,000. Wolff Wiese Magana LLC grew its holdings in shares of D.R. Horton by 1,306.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after purchasing an additional 196 shares during the last quarter. Finally, Grove Bank & Trust raised its position in D.R. Horton by 76.2% in the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after purchasing an additional 93 shares during the period. 90.63% of the stock is currently owned by institutional investors.
D.R. Horton Price Performance
The firm’s 50 day simple moving average is $187.29 and its two-hundred day simple moving average is $165.15. The firm has a market capitalization of $55.75 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30.
About D.R. Horton
D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.
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