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

D.R. Horton (NYSE:DHI) issued its quarterly earnings results on Thursday. The construction company reported $3.52 EPS for the quarter, beating the consensus estimate of $3.08 by $0.44, RTT News reports. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.15 billion. During the same quarter last year, the company posted $2.73 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Price Performance

Shares of DHI opened at $142.19 on Friday. The company has a current ratio of 7.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $151.91 and its two-hundred day 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 firm has a market capitalization of $47.18 billion, a PE ratio of 9.68, a P/E/G ratio of 0.72 and a beta of 1.64.

D.R. Horton Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.20 annualized dividend and a yield of 0.84%. D.R. Horton’s dividend payout ratio is currently 8.17%.

Analyst Upgrades and Downgrades

Several research firms have commented on DHI. Wedbush reiterated an “underperform” rating and set a $130.00 price target on shares of D.R. Horton in a report on Thursday. Royal Bank of Canada dropped their target price on D.R. Horton from $142.00 to $141.00 and set an “underperform” rating on the stock in a report on Friday. Bank of America decreased their price target on D.R. Horton from $182.00 to $168.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group increased their price objective on D.R. Horton from $150.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Jefferies Financial Group boosted their target price on D.R. Horton from $141.00 to $153.00 and gave the stock a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, D.R. Horton currently has an average rating of “Moderate Buy” and an average price target of $158.06.

Insider Transactions at D.R. Horton

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

Institutional Trading of D.R. Horton

Several large investors have recently bought and sold shares of the company. BOKF NA grew its stake in D.R. Horton by 873.1% in the 4th quarter. BOKF NA now owns 253 shares of the construction company’s stock valued at $38,000 after acquiring an additional 227 shares during the last quarter. Clear Street Markets LLC purchased a new stake in shares of D.R. Horton in the fourth quarter valued at about $28,000. Fairfield Bush & CO. acquired a new stake in shares of D.R. Horton in the first quarter valued at approximately $28,000. Resurgent Financial Advisors LLC purchased a new position in shares of D.R. Horton during the 4th quarter worth approximately $46,000. Finally, Point72 Europe London LLP acquired a new position in shares of D.R. Horton during the 4th quarter worth approximately $87,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

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.