D.R. Horton, Inc. (NYSE:DHI – Get Free Report) 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.
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.
Get Our Latest Stock Analysis on DHI
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.
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