D.R. Horton (NYSE:DHI) Posts Quarterly Earnings Results, Beats Expectations By $0.44 EPS

D.R. Horton (NYSE:DHI) released its quarterly earnings data on Thursday. The construction company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.44, RTT News reports. The firm had revenue of $9.11 billion for 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 company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.73 EPS. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Price Performance

Shares of D.R. Horton stock opened at $142.19 on Friday. The firm has a market cap of $47.18 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64. The firm’s 50-day simple moving average is $151.91 and its 200-day simple moving average is $138.67. D.R. Horton has a twelve month low of $100.08 and a twelve month high of $165.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.20 and a current ratio of 7.35.

D.R. Horton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis 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 Buying and Selling

In other D.R. Horton news, insider David V. Auld sold 25,000 shares of D.R. Horton stock in a transaction that occurred 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 sale, the insider now directly owns 773,121 shares of the company’s stock, valued at $120,862,005.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barbara K. Allen sold 1,748 shares of D.R. Horton stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $143.26, for a total value of $250,418.48. Following the completion of the transaction, the director now owns 5,650 shares in the company, valued at $809,419. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David V. Auld sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $156.33, for a total value of $3,908,250.00. Following the sale, the insider now owns 773,121 shares in the company, valued at $120,862,005.93. The disclosure for this sale can be found here. Insiders sold 27,197 shares of company stock valued at $4,225,745 over the last quarter. Corporate insiders own 1.74% of the company’s stock.

Hedge Funds Weigh In On D.R. Horton

Several institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. acquired a new position in D.R. Horton during the 1st quarter worth about $28,000. American Century Companies Inc. lifted its position in shares of D.R. Horton by 13.9% during the first quarter. American Century Companies Inc. now owns 22,684 shares of the construction company’s stock worth $1,690,000 after purchasing an additional 2,771 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of D.R. Horton by 10.7% during the first quarter. Panagora Asset Management Inc. now owns 10,075 shares of the construction company’s stock valued at $751,000 after purchasing an additional 973 shares during the last quarter. Sei Investments Co. increased its holdings in shares of D.R. Horton by 21.1% in the first quarter. Sei Investments Co. now owns 300,024 shares of the construction company’s stock valued at $22,425,000 after purchasing an additional 52,320 shares in the last quarter. Finally, Prudential PLC bought a new position in D.R. Horton in the 1st quarter worth approximately $560,000. Institutional investors own 90.63% of the company’s stock.

Analysts Set New Price Targets

DHI has been the subject of several recent research reports. Barclays cut their price objective on D.R. Horton from $186.00 to $176.00 and set an “overweight” rating for the company in a report on Friday. Wedbush reissued an “underperform” rating and issued a $130.00 price target on shares of D.R. Horton in a research note on Thursday. The Goldman Sachs Group raised their price objective on shares of D.R. Horton from $150.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada decreased their price objective on shares of D.R. Horton from $142.00 to $141.00 and set an “underperform” rating for the company in a report on Friday. Finally, Raymond James raised their target price on D.R. Horton from $140.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, D.R. Horton has an average rating of “Moderate Buy” and a consensus price target of $158.06.

D.R. Horton Company Profile

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.