D.R. Horton (NYSE:DHI) Hits New 52-Week Low – Here’s What Happened

D.R. Horton, Inc. (NYSE:DHI)’s stock price reached a new 52-week low on Thursday . The company traded as low as $121.10 and last traded at $121.59, with a volume of 1172935 shares. The stock had previously closed at $127.97.

Analysts Set New Price Targets

Several research firms recently weighed in on DHI. JPMorgan Chase & Co. downgraded shares of D.R. Horton from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $188.00 to $156.00 in a report on Friday, December 13th. Seaport Res Ptn upgraded D.R. Horton from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Citigroup lowered their target price on D.R. Horton from $185.00 to $152.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods cut shares of D.R. Horton from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $200.00 to $183.00 in a report on Tuesday, December 10th. Finally, Barclays cut their price target on shares of D.R. Horton from $150.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $170.93.

D.R. Horton Stock Up 4.4 %

The stock has a market capitalization of $40.23 billion, a PE ratio of 9.02, a PEG ratio of 0.54 and a beta of 1.80. The firm’s fifty day moving average is $131.02 and its 200-day moving average is $153.03. The company has a quick ratio of 1.09, a current ratio of 6.92 and a debt-to-equity ratio of 0.20.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, January 21st. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.24. The business had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $7.12 billion. D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. On average, equities research analysts predict that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, February 7th. D.R. Horton’s dividend payout ratio is currently 11.31%.

Hedge Funds Weigh In On D.R. Horton

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of D.R. Horton by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company’s stock worth $339,174,000 after buying an additional 120,892 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of D.R. Horton in the third quarter valued at approximately $215,000. IHT Wealth Management LLC grew its position in shares of D.R. Horton by 56.0% in the third quarter. IHT Wealth Management LLC now owns 4,447 shares of the construction company’s stock valued at $851,000 after purchasing an additional 1,597 shares during the last quarter. Royal London Asset Management Ltd. increased its stake in shares of D.R. Horton by 2.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 126,398 shares of the construction company’s stock worth $24,113,000 after purchasing an additional 3,140 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new position in shares of D.R. Horton during the 3rd quarter worth approximately $577,000. 90.63% of the stock is owned by institutional investors and hedge funds.

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.