D. R. Horton (NYSE:DHI) Hits New 1-Year High on Earnings Beat

D. R. Horton Inc (NYSE:DHI) shares reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $55.67 and last traded at $52.96, with a volume of 3310146 shares changing hands. The stock had previously closed at $52.65.

The construction company reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.86 billion. D. R. Horton had a net margin of 9.26% and a return on equity of 16.71%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 27th will be paid a $0.175 dividend. This is a positive change from D. R. Horton’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.33%. D. R. Horton’s dividend payout ratio (DPR) is 14.67%.

Several equities research analysts have commented on the stock. Seaport Global Securities assumed coverage on shares of D. R. Horton in a research note on Friday, August 23rd. They issued a “buy” rating and a $59.00 price objective for the company. ValuEngine lowered shares of D. R. Horton from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. SunTrust Banks assumed coverage on shares of D. R. Horton in a research note on Monday, August 12th. They issued a “buy” rating and a $56.00 price objective for the company. BTIG Research reiterated a “buy” rating on shares of D. R. Horton in a research note on Monday, September 23rd. Finally, Royal Bank of Canada set a $46.00 price objective on shares of D. R. Horton and gave the company a “hold” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. D. R. Horton presently has a consensus rating of “Buy” and a consensus price target of $48.23.

In related news, Director Michael W. Hewatt sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $49.45, for a total value of $346,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.87% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Outlook Wealth Advisors LLC boosted its holdings in D. R. Horton by 2.6% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 8,390 shares of the construction company’s stock valued at $442,000 after purchasing an additional 212 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in shares of D. R. Horton by 1.6% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,063 shares of the construction company’s stock worth $650,000 after acquiring an additional 243 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of D. R. Horton by 0.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,450 shares of the construction company’s stock worth $1,447,000 after acquiring an additional 249 shares during the last quarter. Boston Private Wealth LLC lifted its holdings in shares of D. R. Horton by 2.7% during the 2nd quarter. Boston Private Wealth LLC now owns 10,788 shares of the construction company’s stock worth $465,000 after acquiring an additional 283 shares during the last quarter. Finally, Securian Asset Management Inc lifted its holdings in shares of D. R. Horton by 0.8% during the 2nd quarter. Securian Asset Management Inc now owns 34,835 shares of the construction company’s stock worth $1,502,000 after acquiring an additional 287 shares during the last quarter. 86.78% of the stock is owned by institutional investors.

The company has a current ratio of 6.91, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $18.92 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.01 and a beta of 1.01. The business’s fifty day moving average price is $52.48 and its 200-day moving average price is $47.56.

D. R. Horton Company Profile (NYSE:DHI)

D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West regions in the United States. It engages in the acquisition and development of land; and construction and sale of homes in 27 states and 81 markets in the United States under the names of D.R.

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