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

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

D.R. Horton Stock Down 2.5 %

DHI traded down $3.69 on Friday, reaching $142.19. The company’s stock had a trading volume of 3,393,602 shares, compared to its average volume of 2,207,871. The stock has a market cap of $47.18 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64. D.R. Horton has a 1 year low of $100.08 and a 1 year high of $165.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 7.35 and a quick ratio of 1.20. The business’s 50 day moving average is $151.91 and its 200 day moving average is $138.67.

D.R. Horton Announces Dividend

The business 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 $0.30 dividend. 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 payout ratio is 8.17%.

Insider Activity at D.R. Horton

In related news, Director Barbara K. Allen sold 1,748 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 5,650 shares in the company, valued at approximately $809,419. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider David V. Auld sold 25,000 shares of D.R. Horton stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $156.33, for a total transaction of $3,908,250.00. Following the transaction, the insider now directly owns 773,121 shares in the company, valued at approximately $120,862,005.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Barbara K. Allen sold 1,748 shares of D.R. Horton stock in a transaction on Tuesday, January 30th. The shares were 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 in the company, valued at $809,419. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,197 shares of company stock valued at $4,225,745. Insiders own 1.74% of the company’s stock.

Hedge Funds Weigh In On D.R. Horton

Several hedge funds have recently modified their holdings of the company. FIL Ltd grew its holdings in shares of D.R. Horton by 4,131.7% in the 4th quarter. FIL Ltd now owns 91,659 shares of the construction company’s stock worth $13,930,000 after acquiring an additional 89,493 shares during the last quarter. SageView Advisory Group LLC acquired a new position in shares of D.R. Horton in the 4th quarter worth $253,000. Childress Capital Advisors LLC acquired a new position in shares of D.R. Horton in the 4th quarter worth $250,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of D.R. Horton by 3.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 276,655 shares of the construction company’s stock worth $42,046,000 after acquiring an additional 9,891 shares during the last quarter. Finally, Morse Asset Management Inc grew its holdings in shares of D.R. Horton by 12.3% in the 4th quarter. Morse Asset Management Inc now owns 14,610 shares of the construction company’s stock worth $2,220,000 after acquiring an additional 1,600 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DHI has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on D.R. Horton from $141.00 to $153.00 and gave the company a “hold” rating in a report on Friday. The Goldman Sachs Group boosted their target price on D.R. Horton from $150.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Wedbush restated an “underperform” rating and issued a $130.00 price target on shares of D.R. Horton in a research note on Thursday. Seaport Res Ptn downgraded D.R. Horton from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on D.R. Horton from $175.00 to $172.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.06.

D.R. Horton Company Profile

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.