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

D.R. Horton (NYSE:DHI – Get Rating) issued its earnings results on Tuesday. The construction company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.52, Briefing.com reports. The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $6.43 billion. D.R. Horton had a return on equity of 32.84% and a net margin of 17.50%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.17 EPS. D.R. Horton updated its Q2 2023 guidance to EPS.

D.R. Horton Stock Up 1.4 %

D.R. Horton stock opened at $97.00 on Wednesday. The firm has a market capitalization of $33.42 billion, a P/E ratio of 5.86, a P/E/G ratio of 0.65 and a beta of 1.49. The stock’s fifty day simple moving average is $88.79 and its 200-day simple moving average is $79.13. The company has a current ratio of 5.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. D.R. Horton has a twelve month low of $59.25 and a twelve month high of $98.93.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Tuesday, February 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. D.R. Horton’s dividend payout ratio is currently 6.05%.

Insider Activity at D.R. Horton

In related news, COO Paul J. Romanowski sold 30,000 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $89.68, for a total value of $2,690,400.00. Following the transaction, the chief operating officer now owns 76,185 shares of the company’s stock, valued at $6,832,270.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Paul J. Romanowski sold 30,000 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $89.68, for a total value of $2,690,400.00. Following the transaction, the chief operating officer now owns 76,185 shares of the company’s stock, valued at $6,832,270.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Aron M. Odom sold 1,300 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $83.64, for a total value of $108,732.00. Following the completion of the transaction, the vice president now directly owns 1,724 shares in the company, valued at approximately $144,195.36. The disclosure for this sale can be found here. Insiders have sold 33,770 shares of company stock valued at $3,011,976 over the last quarter. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On D.R. Horton

Large investors have recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new position in D.R. Horton in the first quarter valued at $28,000. Worth Asset Management LLC acquired a new position in D.R. Horton in the first quarter valued at $50,000. Zions Bancorporation N.A. boosted its stake in D.R. Horton by 611.8% in the first quarter. Zions Bancorporation N.A. now owns 1,331 shares of the construction company’s stock valued at $99,000 after acquiring an additional 1,144 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in D.R. Horton by 2,462.3% in the first quarter. Brown Brothers Harriman & Co. now owns 1,563 shares of the construction company’s stock valued at $116,000 after acquiring an additional 1,502 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in D.R. Horton by 15.3% in the third quarter. CENTRAL TRUST Co now owns 1,881 shares of the construction company’s stock valued at $127,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 84.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BTIG Research boosted their target price on D.R. Horton from $90.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 6th. StockNews.com assumed coverage on D.R. Horton in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Oppenheimer assumed coverage on D.R. Horton in a report on Wednesday, January 18th. They issued a “market perform” rating on the stock. Citigroup upped their price objective on D.R. Horton from $91.00 to $111.00 in a report on Tuesday, January 10th. Finally, JPMorgan Chase & Co. upped their price objective on D.R. Horton from $81.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, D.R. Horton currently has an average rating of “Hold” and a consensus target price of $93.62.

About D.R. Horton

(Get Rating)

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 106 markets across 33 states under the names of D.R.