D.R. Horton (NYSE:DHI) Posts Quarterly Earnings Results, Beats Expectations By $0.43 EPS

D.R. Horton (NYSE:DHI) released its earnings results on Thursday. The construction company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.43, RTT News reports. D.R. Horton had a net margin of 13.18% and a return on equity of 21.06%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.15 billion. During the same quarter last year, the company earned $2.73 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Trading Up 0.1 %

Shares of NYSE DHI opened at $145.91 on Friday. The company’s fifty day moving average is $151.97 and its 200-day moving average is $138.42. The stock has a market cap of $48.42 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 0.72 and a beta of 1.64. D.R. Horton has a twelve month low of $100.08 and a twelve month high of $165.75. The company has a quick ratio of 1.20, a current ratio of 6.56 and a debt-to-equity ratio of 0.22.

D.R. Horton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.82%. D.R. Horton’s dividend payout ratio is 8.63%.

Insider Transactions at D.R. Horton

In other news, 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 transaction of $250,418.48. Following the transaction, the director now directly owns 5,650 shares of the company’s stock, valued at $809,419. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider David V. Auld sold 25,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $156.33, for a total value of $3,908,250.00. Following the sale, the insider now directly owns 773,121 shares in the company, valued at $120,862,005.93. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Barbara K. Allen sold 1,748 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $143.26, for a total value of $250,418.48. Following the completion of the sale, the director now owns 5,650 shares in the company, valued at $809,419. The disclosure for this sale can be found here. Insiders have sold a total of 27,197 shares of company stock valued at $4,225,745 over the last three months. 1.74% of the stock is currently owned by corporate insiders.

Institutional Trading of D.R. Horton

A number of institutional investors have recently modified their holdings of the company. Vident Advisory LLC lifted its holdings in shares of D.R. Horton by 1.0% in the fourth quarter. Vident Advisory LLC now owns 12,243 shares of the construction company’s stock valued at $1,861,000 after purchasing an additional 124 shares in the last quarter. Savant Capital LLC increased its position in shares of D.R. Horton by 3.8% in the fourth quarter. Savant Capital LLC now owns 3,480 shares of the construction company’s stock valued at $310,000 after acquiring an additional 126 shares during the last quarter. Ossiam increased its position in shares of D.R. Horton by 3.4% in the first quarter. Ossiam now owns 5,286 shares of the construction company’s stock valued at $516,000 after acquiring an additional 172 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of D.R. Horton by 2.3% in the first quarter. Bleakley Financial Group LLC now owns 7,667 shares of the construction company’s stock valued at $749,000 after acquiring an additional 173 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its position in shares of D.R. Horton by 28.6% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 805 shares of the construction company’s stock valued at $122,000 after acquiring an additional 179 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DHI has been the subject of several research reports. Royal Bank of Canada increased their target price on shares of D.R. Horton from $116.00 to $142.00 and gave the company an “underperform” rating in a research note on Monday, January 22nd. Wedbush restated an “underperform” rating and set a $130.00 price target on shares of D.R. Horton in a research note on Thursday. UBS Group raised their price target on shares of D.R. Horton from $155.00 to $192.00 in a research note on Monday, January 22nd. Barclays raised their price target on shares of D.R. Horton from $166.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Keefe, Bruyette & Woods cut their price target on shares of D.R. Horton from $175.00 to $172.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $154.00.

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.