D.R. Horton Receives Neutral Rating from Zacks (DHI)
D.R. Horton (NYSE:DHI)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Monday. They currently have a $22.00 target price on the stock. Zacks‘s price target points to a potential upside of 5.57% from the stock’s previous close.
Zacks’ analyst wrote, “D.R. Horton’s adjusted earnings of $0.32 per share in the third quarter of 2014 missed the Zacks Consensus Estimate by 34.7% and declined 23.8% year over year. Higher incentives, reduced gross margins, higher SG&A ratio and massive inventory/land impairment charges in the Chicago market hurt quarterly earnings. In an effort to improve the sales pace in the quarter, management increased incentives. Though the strategy improved order trends in the quarter, it took a toll on gross margins. Despite the poor quarterly results, we have faith in the company’s strong fundamentals which include its broad geographic footprint, product diversity and strong land position. We, therefore, have a Neutral recommendation on the stock”
D.R. Horton (NYSE:DHI) traded up 0.84% on Monday, hitting $21.015. The stock had a trading volume of 4,443,969 shares. D.R. Horton has a 52 week low of $17.52 and a 52 week high of $25.23. The stock has a 50-day moving average of $22.59 and a 200-day moving average of $22.81. The company has a market cap of $7.659 billion and a price-to-earnings ratio of 14.39.
D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.32 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.49 by $0.17. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company posted $0.42 earnings per share. D.R. Horton’s revenue was up 27.9% compared to the same quarter last year. On average, analysts predict that D.R. Horton will post $1.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 18th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Wednesday, August 6th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.04.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of D.R. Horton in a research note on Friday, July 25th. They now have a $21.00 price target on the stock, down previously from $23.00. Separately, analysts at Barclays cut their price target on shares of D.R. Horton from $34.00 to $31.00 in a research note on Friday, July 25th. They now have an “overweight” rating on the stock. Finally, analysts at MKM Partners downgraded shares of D.R. Horton from a “buy” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $24.00 price target on the stock, down previously from $27.00. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.82.
D.R. Horton, Inc is the homebuilding companies in the United States. The Company constructs and sells homes through its operating divisions in 27 states and 78 metropolitan markets of the United States, primarily under the name of D.
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