D.R. Horton (NYSE:DHI) Reaches New 52-Week Low – Here’s Why

D.R. Horton, Inc. (NYSE:DHI)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $125.84 and last traded at $127.77, with a volume of 4368229 shares trading hands. The stock had previously closed at $130.60.

Analyst Ratings Changes

A number of brokerages have recently commented on DHI. Wells Fargo & Company cut their price target on D.R. Horton from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. BTIG Research dropped their price objective on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods cut shares of D.R. Horton from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $200.00 to $183.00 in a report on Tuesday, December 10th. Citigroup cut their target price on D.R. Horton from $185.00 to $152.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered D.R. Horton from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $188.00 to $156.00 in a report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $170.93.

D.R. Horton Stock Up 1.0 %

The company has a market cap of $41.16 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.58 and a beta of 1.76. The company has a 50-day simple moving average of $142.12 and a 200 day simple moving average of $166.44. The company has a current ratio of 6.92, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Tuesday, January 21st. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.24. The company had revenue of $7.61 billion for the quarter, compared to analyst estimates of $7.12 billion. D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. D.R. Horton’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.82 earnings per share. On average, equities analysts anticipate that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, February 7th. D.R. Horton’s dividend payout ratio (DPR) is currently 11.31%.

Insider Transactions at D.R. Horton

In related news, Director Barbara K. Allen sold 5,650 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $163.10, for a total value of $921,515.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On D.R. Horton

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mountaineer Partners Management LLC purchased a new position in D.R. Horton in the third quarter valued at $1,853,178,000. Norges Bank acquired a new position in shares of D.R. Horton during the 4th quarter worth $593,363,000. FMR LLC lifted its stake in D.R. Horton by 44.7% in the 3rd quarter. FMR LLC now owns 7,906,129 shares of the construction company’s stock valued at $1,508,252,000 after buying an additional 2,442,581 shares in the last quarter. Franklin Resources Inc. lifted its holdings in D.R. Horton by 71.5% in the 4th quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company’s stock valued at $499,774,000 after purchasing an additional 1,490,648 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in D.R. Horton during the fourth quarter worth approximately $98,720,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

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.