D.R. Horton, Inc. (DHI) To Go Ex-Dividend on August 1st

D.R. Horton, Inc. (NYSE:DHI) announced a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Thursday, August 1st will be given a dividend of 0.30 per share by the construction company on Thursday, August 8th. This represents a $1.20 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, August 1st.

D.R. Horton has increased its dividend by an average of 13.1% per year over the last three years. D.R. Horton has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect D.R. Horton to earn $15.80 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.6%.

D.R. Horton Stock Up 1.0 %

NYSE:DHI opened at $178.71 on Tuesday. D.R. Horton has a 1 year low of $100.08 and a 1 year high of $180.15. The stock has a 50-day moving average price of $148.32 and a two-hundred day moving average price of $149.32. The stock has a market cap of $58.23 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.79 and a beta of 1.71. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.75 by $0.35. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $3.90 EPS. As a group, equities analysts expect that D.R. Horton will post 14.45 earnings per share for the current year.

D.R. Horton declared that its board has authorized a stock repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Michael R. Buchanan sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the transaction, the director now directly owns 1,703 shares in the company, valued at $256,642.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DHI. StockNews.com downgraded D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Wedbush restated an “underperform” rating and set a $130.00 price objective on shares of D.R. Horton in a research note on Thursday, April 18th. BTIG Research lowered their target price on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Barclays boosted their price objective on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods upped their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, D.R. Horton currently has a consensus rating of “Hold” and a consensus target price of $175.60.

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.