D.R. Horton’s (DHI) “Outperform” Rating Reiterated at Wedbush
D.R. Horton, Inc. (NYSE:DHI)‘s stock had its “outperform” rating restated by Wedbush in a research note issued on Saturday. Wedbush also issued estimates for D.R. Horton’s Q4 2017 earnings at $0.76 EPS, FY2017 earnings at $2.67 EPS, Q1 2018 earnings at $0.61 EPS, Q2 2018 earnings at $0.69 EPS, Q4 2018 earnings at $0.97 EPS and FY2018 earnings at $3.16 EPS.
Other research analysts have also recently issued reports about the company. BidaskClub raised D.R. Horton from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Deutsche Bank AG reissued a “hold” rating and set a $36.00 target price (up from $34.00) on shares of D.R. Horton in a research note on Thursday, July 27th. Wells Fargo & Company reissued an “outperform” rating and set a $41.00 target price (up from $39.00) on shares of D.R. Horton in a research note on Monday, July 10th. Raymond James Financial, Inc. raised D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a research note on Friday, June 30th. Finally, Bank of America Corporation reissued a “buy” rating and set a $42.00 target price (up from $41.00) on shares of D.R. Horton in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $36.59.
Shares of D.R. Horton (NYSE:DHI) opened at 37.17 on Friday. The company has a market cap of $13.91 billion, a P/E ratio of 13.93 and a beta of 1.24. D.R. Horton has a 12 month low of $26.69 and a 12 month high of $37.78. The company’s 50-day moving average price is $36.19 and its 200-day moving average price is $34.41.
D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts forecast that D.R. Horton will post $2.78 EPS for the current fiscal year.
D.R. Horton declared that its board has initiated a stock buyback program on Wednesday, July 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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In other news, Director Barbara K. Allen sold 1,666 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $36.03, for a total transaction of $60,025.98. Following the completion of the transaction, the director now directly owns 7,316 shares of the company’s stock, valued at approximately $263,595.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael W. Hewatt sold 4,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $36.11, for a total value of $144,440.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $288,880. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,666 shares of company stock valued at $912,606. Insiders own 7.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at about $100,000. Tower Research Capital LLC TRC lifted its holdings in shares of D.R. Horton by 179.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,591 shares of the construction company’s stock valued at $124,000 after purchasing an additional 2,306 shares during the last quarter. Evercore Wealth Management LLC lifted its holdings in shares of D.R. Horton by 5.7% in the 2nd quarter. Evercore Wealth Management LLC now owns 3,700 shares of the construction company’s stock valued at $128,000 after purchasing an additional 200 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of D.R. Horton by 6.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,742 shares of the construction company’s stock valued at $129,000 after purchasing an additional 241 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of D.R. Horton by 131.9% in the 2nd quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock valued at $137,000 after purchasing an additional 2,250 shares during the last quarter. 82.31% of the stock is owned by institutional investors and hedge funds.
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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