D.R. Horton (NYSE:DHI) Announces Quarterly Earnings Results

D.R. Horton (NYSE:DHI) posted its quarterly earnings data on Thursday. The construction company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35, RTT News reports. The company 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 firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.90 earnings per share. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Trading Up 0.2 %

Shares of DHI stock opened at $173.84 on Friday. The stock has a market capitalization of $57.25 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 0.86 and a beta of 1.71. The stock’s 50-day moving average price is $145.35 and its 200-day moving average price is $148.31. The company has a current ratio of 7.22, a quick ratio of 1.38 and a debt-to-equity ratio of 0.23. D.R. Horton has a 12-month low of $100.08 and a 12-month high of $177.47.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.69%. D.R. Horton’s payout ratio is 8.17%.

Insiders Place Their Bets

In other news, Director Michael R. Buchanan sold 2,000 shares of the stock in a transaction that occurred on 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 approximately $256,642.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other D.R. Horton news, Director Barbara K. Allen sold 363 shares of D.R. Horton stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $148.46, for a total value of $53,890.98. Following the completion of the transaction, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $838,799. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael R. Buchanan sold 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the sale, the director now owns 1,703 shares in the company, valued at $256,642.10. The disclosure for this sale can be found here. Corporate insiders own 1.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BTIG Research dropped their price target on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Jefferies Financial Group lifted their target price on D.R. Horton from $141.00 to $153.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Royal Bank of Canada lifted their price objective on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday. Finally, Bank of America reduced their target price on shares of D.R. Horton from $182.00 to $168.00 and set a “buy” rating for the company in a report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, D.R. Horton has an average rating of “Hold” and a consensus target price of $165.12.

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.