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

D.R. Horton (NYSE:DHI) announced its quarterly earnings results on Thursday. The construction company reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.44, RTT News reports. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.15 billion. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.73 EPS. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Stock Down 2.5 %

D.R. Horton stock opened at $142.19 on Friday. The company’s 50-day moving average price is $151.91 and its two-hundred day moving average price is $138.67. The company has a quick ratio of 1.20, a current ratio of 7.35 and a debt-to-equity ratio of 0.24. The stock has a market cap of $47.18 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.72 and a beta of 1.64. D.R. Horton has a twelve month low of $100.08 and a twelve month high of $165.75.

D.R. Horton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, May 1st. D.R. Horton’s payout ratio is 8.17%.

Insider Transactions at D.R. Horton

In other news, Director Barbara K. Allen sold 449 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $149.39, for a total transaction of $67,076.11. Following the transaction, the director now owns 5,650 shares in the company, valued at $844,053.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider David V. Auld sold 25,000 shares of D.R. Horton stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $156.33, for a total transaction of $3,908,250.00. Following the completion of the sale, the insider now owns 773,121 shares of the company’s stock, valued at $120,862,005.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara K. Allen sold 449 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $149.39, for a total transaction of $67,076.11. Following the completion of the sale, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $844,053.50. The disclosure for this sale can be found here. Insiders sold a total of 27,197 shares of company stock worth $4,225,745 over the last quarter. Company insiders own 1.74% of the company’s stock.

Hedge Funds Weigh In On D.R. Horton

Hedge funds have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its position in shares of D.R. Horton by 101,707.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,368,566 shares of the construction company’s stock worth $389,414,000 after purchasing an additional 4,364,275 shares in the last quarter. Norges Bank bought a new stake in shares of D.R. Horton in the fourth quarter valued at approximately $247,001,000. Goldman Sachs Group Inc. grew its position in D.R. Horton by 41.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,909,230 shares of the construction company’s stock worth $442,145,000 after buying an additional 845,745 shares in the last quarter. Barclays PLC grew its position in D.R. Horton by 72.0% during the fourth quarter. Barclays PLC now owns 1,723,287 shares of the construction company’s stock worth $261,902,000 after buying an additional 721,292 shares in the last quarter. Finally, Invesco Ltd. increased its stake in D.R. Horton by 17.0% during the 1st quarter. Invesco Ltd. now owns 4,771,705 shares of the construction company’s stock worth $355,538,000 after acquiring an additional 694,155 shares during the period. 90.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

DHI has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on D.R. Horton from $142.00 to $141.00 and set an “underperform” rating on the stock in a research report on Friday. BTIG Research reduced their target price on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a research note on Tuesday. Raymond James lifted their price target on D.R. Horton from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Seaport Res Ptn downgraded D.R. Horton from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods reduced their price target on D.R. Horton from $175.00 to $172.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.06.

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.