Citigroup Cuts D.R. Horton (NYSE:DHI) Price Target to $185.00

D.R. Horton (NYSE:DHI) had its price objective reduced by Citigroup from $186.00 to $185.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

DHI has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. BTIG Research dropped their price target on D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America lifted their price objective on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Keefe, Bruyette & Woods upped their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, D.R. Horton presently has an average rating of “Moderate Buy” and an average price target of $185.33.

D.R. Horton Price Performance

Shares of NYSE:DHI opened at $167.64 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $186.47 and a 200 day moving average price of $165.44. D.R. Horton has a 52 week low of $111.59 and a 52 week high of $199.85. The company has a market cap of $54.62 billion, a P/E ratio of 11.67, a PEG ratio of 0.56 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the prior year, the business earned $4.45 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. Research analysts predict that D.R. Horton will post 15.74 earnings per share for the current year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is 8.36%.

D.R. Horton announced that its board has initiated a share repurchase plan on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of D.R. Horton

Several large investors have recently added to or reduced their stakes in DHI. Bfsg LLC lifted its position in shares of 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 during the last quarter. RiverPark Advisors LLC bought a new position in shares of D.R. Horton in the 1st quarter valued at approximately $29,000. Signature Resources Capital Management LLC acquired a new stake in D.R. Horton in the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC boosted its position in D.R. Horton by 1,306.7% during the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after purchasing an additional 196 shares during the period. Finally, Grove Bank & Trust grew its holdings in D.R. Horton by 76.2% during the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after purchasing an additional 93 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

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.