D.R. Horton (NYSE:DHI) Reaches New 1-Year Low – Here’s What Happened

D.R. Horton, Inc. (NYSE:DHI) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $124.23 and last traded at $127.47, with a volume of 387614 shares. The stock had previously closed at $129.81.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DHI shares. Barclays decreased their price objective on D.R. Horton from $150.00 to $145.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Wedbush reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of D.R. Horton in a research note on Friday, January 17th. Evercore ISI reduced their price objective on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. BTIG Research decreased their price objective on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $125.00 price target on shares of D.R. Horton in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $170.93.

D.R. Horton Trading Down 2.1 %

The firm has a market capitalization of $39.68 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.54 and a beta of 1.76. The company has a current ratio of 6.92, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $139.42 and a 200-day simple moving average of $164.71.

D.R. Horton (NYSE:DHI) last released its earnings results on Tuesday, January 21st. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.24. The company had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.12 billion. D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. On average, equities research analysts forecast that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 1.27%. D.R. Horton’s payout ratio is currently 11.31%.

Institutional Investors Weigh In On D.R. Horton

Several large investors have recently added to or reduced their stakes in DHI. Mountaineer Partners Management LLC purchased a new position in shares of D.R. Horton during the third quarter valued at $1,853,178,000. FMR LLC lifted its holdings in D.R. Horton by 44.7% during the third quarter. FMR LLC now owns 7,906,129 shares of the construction company’s stock worth $1,508,252,000 after buying an additional 2,442,581 shares during the period. Geode Capital Management LLC boosted its position in D.R. Horton by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 7,235,518 shares of the construction company’s stock valued at $1,009,077,000 after acquiring an additional 127,606 shares in the last quarter. Norges Bank purchased a new position in shares of D.R. Horton in the 4th quarter valued at $593,363,000. Finally, Franklin Resources Inc. raised its position in shares of D.R. Horton by 71.5% in the 4th quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company’s stock worth $499,774,000 after acquiring an additional 1,490,648 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other 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.