D.R. Horton (NYSE:DHI) Shares Gap Up After Better-Than-Expected Earnings

D.R. Horton, Inc. (NYSE:DHI)’s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. 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 trading hands.

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

D.R. Horton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders 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 yield of 0.82%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DHI shares. Wedbush restated an “underperform” rating and issued a $130.00 price objective on shares of D.R. Horton in a research note on Thursday. Barclays boosted their price objective on shares of D.R. Horton from $166.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. JMP Securities boosted their price objective on shares of D.R. Horton from $140.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group boosted their price objective on shares of D.R. Horton from $150.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, BTIG Research reduced their price objective on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Insider Activity

In other news, Director Barbara K. Allen sold 449 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $149.39, for a total value of $67,076.11. Following the completion of the transaction, the director now owns 5,650 shares in the company, valued at approximately $844,053.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider David V. Auld sold 25,000 shares of the 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 completion of the transaction, the insider now owns 773,121 shares in the company, valued at approximately $120,862,005.93. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Barbara K. Allen sold 449 shares of the stock in a transaction 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 approximately $844,053.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,197 shares of company stock worth $4,225,745. 1.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On D.R. Horton

A number of hedge funds have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its position in shares of D.R. Horton by 101,707.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,368,566 shares of the construction company’s stock worth $389,414,000 after purchasing an additional 4,364,275 shares in the last quarter. Norges Bank acquired a new stake in shares of D.R. Horton during the 4th quarter worth about $516,530,000. Goldman Sachs Group Inc. increased its position in shares of D.R. Horton by 41.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,909,230 shares of the construction company’s stock worth $442,145,000 after purchasing an additional 845,745 shares in the last quarter. Barclays PLC increased its position in shares of D.R. Horton by 72.0% during the 4th quarter. Barclays PLC now owns 1,723,287 shares of the construction company’s stock worth $261,902,000 after purchasing an additional 721,292 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of D.R. Horton by 17.0% during the 1st quarter. Invesco Ltd. now owns 4,771,705 shares of the construction company’s stock worth $355,538,000 after purchasing an additional 694,155 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Stock Up 0.1 %

The firm has a market cap of $48.42 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.72 and a beta of 1.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 6.56. The business’s 50-day moving average is $151.97 and its 200-day moving average is $138.42.

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.