D.R. Horton (NYSE:DHI) Releases Earnings Results

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

D.R. Horton Stock Performance

Shares of D.R. Horton stock traded down $3.69 during trading hours on Friday, hitting $142.19. 3,393,602 shares of the company’s stock traded hands, compared to its average volume of 2,207,871. D.R. Horton has a 12-month low of $100.08 and a 12-month high of $165.75. The stock has a market capitalization of $47.18 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.72 and a beta of 1.64. The company has a fifty day simple moving average of $151.91 and a 200-day simple moving average of $138.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 7.35 and a quick ratio of 1.20.

D.R. Horton Announces Dividend

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

Analysts Set New Price Targets

DHI has been the topic of a number of research analyst reports. JMP Securities increased their price target on D.R. Horton from $140.00 to $170.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 24th. Wedbush restated an “underperform” rating and set a $130.00 price target on shares of D.R. Horton in a report on Thursday. Citigroup increased their target price on D.R. Horton from $166.00 to $191.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group increased their target price on D.R. Horton from $141.00 to $153.00 and gave the stock a “hold” rating in a report on Friday. Finally, Raymond James increased their target price on D.R. Horton from $140.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, D.R. Horton currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.06.

Insider Activity

In other news, Director Barbara K. Allen sold 1,748 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total transaction of $250,418.48. Following the completion of the sale, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $809,419. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Barbara K. Allen sold 449 shares of the stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barbara K. Allen sold 1,748 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total value of $250,418.48. Following the transaction, the director now owns 5,650 shares of the company’s stock, valued at approximately $809,419. The disclosure for this sale can be found here. Insiders sold a total of 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

Institutional investors and hedge funds have recently made changes to their positions in the company. BOKF NA grew its stake in shares of D.R. Horton by 873.1% during the 4th quarter. BOKF NA now owns 253 shares of the construction company’s stock worth $38,000 after acquiring an additional 227 shares during the period. Clear Street Markets LLC bought a new position in D.R. Horton in the 4th quarter worth about $28,000. Fairfield Bush & CO. bought a new position in D.R. Horton in the 1st quarter worth about $28,000. Resurgent Financial Advisors LLC bought a new position in D.R. Horton in the 4th quarter worth about $46,000. Finally, Point72 Europe London LLP bought a new position in D.R. Horton in the 4th quarter worth about $87,000. Institutional investors own 90.63% of the company’s stock.

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.