D.R. Horton, Inc. (DHI) Releases Earnings Results, Beats Expectations By $0.01 EPS
D.R. Horton, Inc. (NYSE:DHI) issued its quarterly earnings data on Thursday. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.10 billion. D.R. Horton had a return on equity of 14.10% and a net margin of 7.40%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS.
D.R. Horton (NYSE:DHI) opened at 33.95 on Thursday. D.R. Horton has a 12 month low of $26.69 and a 12 month high of $34.56. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 13.64 and a beta of 1.12. The stock’s 50 day moving average price is $33.29 and its 200 day moving average price is $30.11.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Friday, May 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. D.R. Horton’s dividend payout ratio (DPR) is presently 16.13%.
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In other news, Director Barbara K. Allen sold 940 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $32.36, for a total transaction of $30,418.40. Following the transaction, the director now owns 6,590 shares of the company’s stock, valued at $213,252.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael J. Murray sold 13,850 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $33.55, for a total value of $464,667.50. Following the transaction, the chief operating officer now directly owns 33,855 shares in the company, valued at approximately $1,135,835.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,080,276 shares of company stock worth $65,095,772. Insiders own 7.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Intellectus Partners LLC purchased a new position in D.R. Horton during the fourth quarter valued at $137,000. Ladenburg Thalmann Financial Services Inc. increased its position in D.R. Horton by 6.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,190 shares of the construction company’s stock valued at $197,000 after buying an additional 425 shares during the period. Courier Capital LLC purchased a new position in D.R. Horton during the first quarter valued at $217,000. Spirit of America Management Corp NY purchased a new position in D.R. Horton during the first quarter valued at $250,000. Finally, First Manhattan Co. increased its position in D.R. Horton by 194.6% in the third quarter. First Manhattan Co. now owns 8,326 shares of the construction company’s stock valued at $251,000 after buying an additional 5,500 shares during the period. 83.30% of the stock is currently owned by institutional investors.
DHI has been the topic of a number of recent research reports. BTIG Research initiated coverage on D.R. Horton in a report on Tuesday, February 7th. They set a “buy” rating and a $38.00 price objective on the stock. Vetr raised D.R. Horton from a “hold” rating to a “buy” rating and set a $28.77 price objective on the stock in a report on Monday, December 26th. Barclays PLC increased their price objective on D.R. Horton from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 7th. Citigroup Inc increased their price objective on D.R. Horton from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, January 25th. Finally, Wedbush reissued an “outperform” rating and set a $36.00 price objective on shares of D.R. Horton in a report on Thursday, April 13th. Seven analysts have rated the stock with a hold rating, nine 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 “Buy” and an average target price of $34.63.
D.R. Horton Company Profile
D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.
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