D.R. Horton, Inc. (NYSE:DHI – Get Rating) – Zacks Research reduced their Q4 2023 earnings estimates for shares of D.R. Horton in a research report issued to clients and investors on Tuesday, June 20th. Zacks Research analyst S. Mukherjee now forecasts that the construction company will earn $2.94 per share for the quarter, down from their prior estimate of $2.95. The consensus estimate for D.R. Horton’s current full-year earnings is $11.21 per share. Zacks Research also issued estimates for D.R. Horton’s Q2 2024 earnings at $2.77 EPS, Q3 2024 earnings at $2.89 EPS, Q4 2024 earnings at $2.87 EPS, FY2024 earnings at $10.99 EPS, Q2 2025 earnings at $2.83 EPS and FY2025 earnings at $11.34 EPS.
Several other analysts also recently commented on DHI. Barclays raised their price objective on shares of D.R. Horton from $131.00 to $138.00 in a research report on Wednesday, May 24th. JMP Securities lifted their price target on shares of D.R. Horton from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, April 21st. Citigroup lifted their price target on shares of D.R. Horton from $115.00 to $124.00 in a research report on Friday, April 21st. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of D.R. Horton in a research report on Tuesday, April 25th. Finally, JPMorgan Chase & Co. downgraded shares of D.R. Horton from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $107.00 to $102.50 in a research report on Monday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $115.90.
D.R. Horton Stock Performance
D.R. Horton (NYSE:DHI – Get Rating) last released its earnings results on Thursday, April 20th. The construction company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.83. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $6.48 billion. D.R. Horton had a net margin of 15.39% and a return on equity of 25.94%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.03 EPS.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in DHI. Vanguard Group Inc. grew its holdings in shares of D.R. Horton by 1.1% during the first quarter. Vanguard Group Inc. now owns 35,902,967 shares of the construction company’s stock worth $2,675,130,000 after purchasing an additional 406,429 shares in the last quarter. BlackRock Inc. grew its holdings in shares of D.R. Horton by 0.8% during the first quarter. BlackRock Inc. now owns 25,817,653 shares of the construction company’s stock worth $2,522,127,000 after purchasing an additional 194,412 shares in the last quarter. State Street Corp grew its holdings in shares of D.R. Horton by 3.6% during the first quarter. State Street Corp now owns 13,712,390 shares of the construction company’s stock worth $1,339,558,000 after purchasing an additional 480,247 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of D.R. Horton by 168.1% during the first quarter. Bank of America Corp DE now owns 10,978,102 shares of the construction company’s stock worth $1,072,451,000 after purchasing an additional 6,883,719 shares in the last quarter. Finally, Parnassus Investments LLC grew its holdings in shares of D.R. Horton by 208.9% during the fourth quarter. Parnassus Investments LLC now owns 9,903,292 shares of the construction company’s stock worth $882,779,000 after purchasing an additional 6,697,209 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.
Insider Transactions at D.R. Horton
In other news, CFO Bill W. Wheat sold 32,000 shares of D.R. Horton stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $117.81, for a total transaction of $3,769,920.00. Following the sale, the chief financial officer now directly owns 219,115 shares in the company, valued at approximately $25,813,938.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Paul J. Romanowski sold 40,000 shares of D.R. Horton stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $112.16, for a total value of $4,486,400.00. Following the completion of the sale, the chief operating officer now owns 84,268 shares of the company’s stock, valued at approximately $9,451,498.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Bill W. Wheat sold 32,000 shares of D.R. Horton stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $117.81, for a total value of $3,769,920.00. Following the transaction, the chief financial officer now directly owns 219,115 shares of the company’s stock, valued at approximately $25,813,938.15. The disclosure for this sale can be found here. Insiders have sold 126,000 shares of company stock worth $14,207,660 in the last ninety days. Company insiders own 0.61% of the company’s stock.
D.R. Horton Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Stockholders of record on Wednesday, May 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Tuesday, May 2nd. D.R. Horton’s payout ratio is 6.74%.
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 106 markets across 33 states under the names of D.R.
Featured Articles
- Get a free research report on D.R. Horton from StockNews.com
- Mastering Discipline: Overcoming Emotional Challenges In Trading
- Darden Restaurants: Ring The Register Or Time To Buy?
- United Airlines: Cleared For Takeoff As It Approaches Buy Point?
- KB Home Hits Peak: Pullback Imminent
- Five stocks we like better than D.R. Horton
Receive News & Ratings for D.R. Horton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for D.R. Horton and related companies with MarketBeat.com's FREE daily email newsletter.
