D.R. Horton (NYSE:DHI) Shares Gap Up Following Earnings Beat

Shares of D.R. Horton, Inc. (NYSE:DHI) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $145.74, but opened at $153.00. D.R. Horton shares last traded at $150.01, with a volume of 1,129,086 shares traded.

The construction company reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.43. D.R. Horton had a return on equity of 21.06% and a net margin of 13.18%. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.15 billion. During the same quarter last year, the business earned $2.73 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year.

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 2nd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.79%. D.R. Horton’s payout ratio is currently 8.63%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their target price on D.R. Horton from $175.00 to $172.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Wedbush reaffirmed an “underperform” rating and set a $130.00 price target on shares of D.R. Horton in a research note on Thursday. Royal Bank of Canada raised their price objective on D.R. Horton from $116.00 to $142.00 and gave the company an “underperform” rating in a research note on Monday, January 22nd. Seaport Res Ptn downgraded shares of D.R. Horton from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Finally, BTIG Research cut their target price on D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $154.00.

Insider Transactions at D.R. Horton

In related news, insider David V. Auld sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 773,121 shares of the company’s stock, valued at approximately $120,862,005.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Barbara K. Allen sold 449 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $149.39, for a total transaction of $67,076.11. Following the completion of the transaction, the director now owns 5,650 shares of the company’s stock, valued at $844,053.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David V. Auld sold 25,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $156.33, for a total value of $3,908,250.00. Following the transaction, the insider now owns 773,121 shares of the company’s stock, valued at $120,862,005.93. The disclosure for this sale can be found here. Insiders sold 27,197 shares of company stock worth $4,225,745 over the last quarter. Corporate insiders own 1.74% of the company’s stock.

Hedge Funds Weigh In On D.R. Horton

A number of hedge funds and other institutional investors have recently bought and sold shares of DHI. Rise Advisors LLC purchased a new stake in D.R. Horton in the first quarter worth approximately $27,000. Clear Street Markets LLC purchased a new position in D.R. Horton in the 4th quarter worth $28,000. Fairfield Bush & CO. purchased a new position in shares of D.R. Horton in the first quarter worth about $28,000. Riverview Trust Co purchased a new stake in D.R. Horton during the 1st quarter valued at about $30,000. Finally, Mascoma Wealth Management LLC raised its holdings in shares of D.R. Horton by 345.6% during the third quarter. Mascoma Wealth Management LLC now owns 303 shares of the construction company’s stock valued at $33,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Performance

The stock has a market capitalization of $50.09 billion, a PE ratio of 10.79, a PEG ratio of 0.72 and a beta of 1.64. The company’s 50-day moving average price is $151.94 and its 200 day moving average price is $138.37. 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 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.