D.R. Horton, Inc. (NYSE:DHI) to Issue Dividend Increase – $0.40 Per Share

D.R. Horton, Inc. (NYSE:DHI) announced a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.40 per share by the construction company on Tuesday, November 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30.

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 7.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect D.R. Horton to earn $15.39 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 7.8%.

D.R. Horton Trading Up 1.2 %

Shares of NYSE:DHI opened at $169.29 on Thursday. The stock has a market capitalization of $55.75 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.78 and a beta of 1.72. D.R. Horton has a 1-year low of $102.23 and a 1-year high of $199.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The company has a 50 day moving average price of $187.29 and a 200 day moving average price of $165.15.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($0.28). The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.45 earnings per share. On average, research analysts anticipate that D.R. Horton will post 14.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on DHI shares. Wells Fargo & Company reduced their price target on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America upped their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Barclays upped their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Citigroup reduced their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.87.

D.R. Horton announced that its Board of Directors has approved a stock buyback plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.