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

D.R. Horton (NYSE:DHI) released its earnings results on Thursday. The construction company reported $3.52 EPS for the quarter, topping the consensus estimate of $3.08 by $0.44, RTT News reports. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.15 billion. D.R. Horton had a return on equity of 21.06% and a net margin of 13.18%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.73 earnings per share. D.R. Horton updated its FY 2024 guidance to EPS.

D.R. Horton Price Performance

NYSE:DHI opened at $145.91 on Friday. The firm has a market capitalization of $48.42 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 0.72 and a beta of 1.64. D.R. Horton has a 52-week low of $100.08 and a 52-week high of $165.75. The stock has a fifty day moving average of $151.97 and a 200 day moving average of $138.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 6.56.

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.82%. D.R. Horton’s dividend payout ratio is 8.63%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DHI. The Goldman Sachs Group increased their price target on D.R. Horton from $150.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Barclays increased their price target on D.R. Horton from $166.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Seaport Res Ptn lowered D.R. Horton from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Royal Bank of Canada increased their price target on D.R. Horton from $116.00 to $142.00 and gave the stock an “underperform” rating in a report on Monday, January 22nd. Finally, Wedbush reiterated an “underperform” rating and issued a $130.00 price target on shares of D.R. Horton in a report on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $154.47.

Insider Activity at D.R. Horton

In related news, insider David V. Auld sold 25,000 shares of D.R. Horton stock in a transaction on 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 completion of the sale, the insider now owns 773,121 shares of the company’s stock, valued at $120,862,005.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other D.R. Horton 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 completion of the sale, the insider now owns 773,121 shares of the company’s stock, valued at $120,862,005.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barbara K. Allen sold 1,748 shares of D.R. Horton stock in a transaction dated 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 of the company’s stock, valued at approximately $809,419. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,197 shares of company stock valued at $4,225,745. Company insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On D.R. Horton

Several hedge funds have recently added to or reduced their stakes in DHI. Fairfield Bush & CO. bought a new stake in D.R. Horton during the first quarter worth about $28,000. American Century Companies Inc. lifted its stake in shares of D.R. Horton by 13.9% in the 1st quarter. American Century Companies Inc. now owns 22,684 shares of the construction company’s stock valued at $1,690,000 after acquiring an additional 2,771 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of D.R. Horton by 10.7% in the 1st quarter. Panagora Asset Management Inc. now owns 10,075 shares of the construction company’s stock valued at $751,000 after acquiring an additional 973 shares during the last quarter. Sei Investments Co. lifted its stake in shares of D.R. Horton by 21.1% in the 1st quarter. Sei Investments Co. now owns 300,024 shares of the construction company’s stock valued at $22,425,000 after acquiring an additional 52,320 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of D.R. Horton in the 1st quarter valued at about $560,000. Institutional investors 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.