D.R. Horton, Inc. (NYSE:DHI) – Investment analysts at Wedbush dropped their FY2017 earnings estimates for shares of D.R. Horton in a report released on Thursday. Wedbush analyst J. Mccanless now anticipates that the construction company will earn $2.67 per share for the year, down from their prior forecast of $2.77. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for D.R. Horton’s Q4 2017 earnings at $0.76 EPS, Q1 2018 earnings at $0.61 EPS and Q4 2018 earnings at $0.97 EPS.
A number of other research analysts have also recently commented on the stock. BidaskClub upgraded shares of D.R. Horton from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Keefe, Bruyette & Woods restated a “buy” rating and set a $38.00 price target on shares of D.R. Horton in a research note on Tuesday, June 6th. Royal Bank Of Canada raised their price target on shares of D.R. Horton from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. Bank of America Corporation restated a “buy” rating and set a $42.00 price target (up previously from $41.00) on shares of D.R. Horton in a research note on Tuesday, June 27th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $41.00 price target (up previously from $39.00) on shares of D.R. Horton in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $36.59.
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Shares of D.R. Horton (DHI) opened at 37.49 on Monday. The company has a 50 day moving average price of $36.24 and a 200 day moving average price of $34.47. The company has a market capitalization of $14.03 billion, a P/E ratio of 14.05 and a beta of 1.24. D.R. Horton has a 12-month low of $26.69 and a 12-month high of $37.78.
D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share.
Hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its position in D.R. Horton by 2.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 42,940 shares of the construction company’s stock worth $1,430,000 after purchasing an additional 950 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in D.R. Horton by 38.6% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,596 shares of the construction company’s stock worth $286,000 after purchasing an additional 2,396 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its position in D.R. Horton by 17.9% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 34,200 shares of the construction company’s stock worth $1,182,000 after purchasing an additional 5,200 shares during the last quarter. Capital Analysts LLC raised its position in D.R. Horton by 4.4% in the 2nd quarter. Capital Analysts LLC now owns 90,829 shares of the construction company’s stock worth $3,140,000 after purchasing an additional 3,841 shares during the last quarter. Finally, Swiss National Bank raised its position in D.R. Horton by 3.0% in the 2nd quarter. Swiss National Bank now owns 1,292,574 shares of the construction company’s stock worth $44,684,000 after purchasing an additional 37,300 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.
In related news, Director Bradley S. Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $37.46, for a total value of $374,600.00. Following the completion of the transaction, the director now owns 36,828 shares in the company, valued at approximately $1,379,576.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael W. Hewatt sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $36.11, for a total transaction of $144,440.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at approximately $288,880. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock valued at $912,606 in the last 90 days. 7.20% of the stock is currently owned by corporate insiders.
D.R. Horton announced that its board has approved a share repurchase program on Wednesday, July 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Monday, August 7th. D.R. Horton’s dividend payout ratio (DPR) is presently 15.04%.
About D.R. Horton
D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.
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