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

D.R. Horton (NYSE:DHI) posted 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 firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.73 earnings per share. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Stock Performance

Shares of NYSE DHI opened at $142.19 on Friday. D.R. Horton has a 1 year low of $100.08 and a 1 year 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. The stock has a fifty day moving average price of $151.91 and a two-hundred day moving average price of $138.67. The firm has a market cap of $47.18 billion, a P/E ratio of 9.68, a PEG ratio of 0.72 and a beta of 1.64.

D.R. Horton Announces Dividend

The company 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. 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 payout ratio is 8.17%.

Insider Transactions at D.R. Horton

In related news, insider David V. Auld sold 25,000 shares of D.R. Horton stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available through this hyperlink. In related news, Director Barbara K. Allen sold 449 shares of D.R. Horton stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $149.39, for a total value of $67,076.11. Following the transaction, the director now directly owns 5,650 shares in the company, valued at approximately $844,053.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David V. Auld sold 25,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 773,121 shares of the company’s stock, valued at $120,862,005.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,197 shares of company stock valued at $4,225,745. Corporate insiders own 1.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DHI. Fairfield Bush & CO. acquired a new position in D.R. Horton in the 1st quarter worth approximately $28,000. Clear Street Markets LLC acquired a new position in D.R. Horton during the fourth quarter valued at $28,000. BOKF NA boosted its position in D.R. Horton by 873.1% during the 4th quarter. BOKF NA now owns 253 shares of the construction company’s stock worth $38,000 after acquiring an additional 227 shares during the period. Resurgent Financial Advisors LLC purchased a new position in D.R. Horton during the 4th quarter valued at about $46,000. Finally, Worth Asset Management LLC acquired a new position in shares of D.R. Horton in the 1st quarter valued at about $50,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wedbush reissued an “underperform” rating and issued a $130.00 price objective on shares of D.R. Horton in a report on Thursday. Raymond James raised their price objective on D.R. Horton from $140.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada lowered their target price on shares of D.R. Horton from $142.00 to $141.00 and set an “underperform” rating for the company in a research note on Friday. JMP Securities raised their price target on shares of D.R. Horton from $140.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of D.R. Horton from $175.00 to $172.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.