D.R. Horton (NYSE:DHI) Announces Quarterly Earnings Results

D.R. Horton (NYSE:DHI) issued its quarterly earnings data on Thursday. The construction company reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.44, RTT News reports. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.15 billion. During the same quarter in the previous year, the company earned $2.73 EPS. The business’s revenue was up 14.2% on a year-over-year basis. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Trading Down 2.5 %

DHI traded down $3.69 during trading on Friday, reaching $142.19. 3,393,602 shares of the company’s stock were exchanged, compared to its average volume of 2,207,871. D.R. Horton has a one year low of $100.08 and a one year high of $165.75. The company has a current ratio of 7.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $47.18 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64. The firm has a fifty day moving average price of $151.91 and a two-hundred day moving average price of $138.67.

D.R. Horton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Wednesday, May 1st. D.R. Horton’s payout ratio is 8.17%.

Insiders Place Their Bets

In other D.R. Horton news, insider David V. Auld sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $156.33, for a total transaction of $3,908,250.00. Following the sale, the insider now directly owns 773,121 shares of the company’s stock, valued at approximately $120,862,005.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider David V. Auld sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $156.33, for a total value of $3,908,250.00. Following the transaction, the insider now owns 773,121 shares in the company, valued at approximately $120,862,005.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara K. Allen sold 449 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $149.39, for a total transaction of $67,076.11. Following the completion of the transaction, the director now owns 5,650 shares in the company, valued at approximately $844,053.50. The disclosure for this sale can be found here. Insiders have sold 27,197 shares of company stock valued at $4,225,745 in the last ninety days. 1.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DHI. Fairfield Bush & CO. acquired a new position in shares of D.R. Horton in the 1st quarter worth approximately $28,000. American Century Companies Inc. lifted its position in shares of D.R. Horton by 13.9% during the 1st quarter. American Century Companies Inc. now owns 22,684 shares of the construction company’s stock valued at $1,690,000 after acquiring an additional 2,771 shares during the period. Panagora Asset Management Inc. lifted its position in shares of D.R. Horton by 10.7% during the 1st quarter. Panagora Asset Management Inc. now owns 10,075 shares of the construction company’s stock valued at $751,000 after acquiring an additional 973 shares during the period. Sei Investments Co. lifted its position in shares of D.R. Horton by 21.1% during the 1st quarter. Sei Investments Co. now owns 300,024 shares of the construction company’s stock valued at $22,425,000 after acquiring an additional 52,320 shares during the period. Finally, Prudential PLC acquired a new position in shares of D.R. Horton during the 1st quarter valued at $560,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of D.R. Horton from $142.00 to $141.00 and set an “underperform” rating for the company in a research note on Friday. Citigroup raised their target price on shares of D.R. Horton from $166.00 to $191.00 and gave the company a “buy” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods decreased their target price on shares of D.R. Horton from $175.00 to $172.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Bank of America decreased their target price on shares of D.R. Horton from $182.00 to $168.00 and set a “buy” rating on the stock in a report on Friday. Finally, Wedbush reissued an “underperform” rating and issued a $130.00 target price on shares of D.R. Horton in a report on Thursday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.06.

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.