Wedbush Weighs in on D.R. Horton Inc.’s Q4 2018 Earnings (DHI)
D.R. Horton Inc. (NYSE:DHI) – Stock analysts at Wedbush issued their Q4 2018 earnings estimates for D.R. Horton in a research report issued on Tuesday. Wedbush analyst J. Mccanless forecasts that the brokerage will post earnings of $1.04 per share for the quarter. Wedbush has a “Outperform” rating and a $36.00 price objective on the stock.
Several other brokerages have also recently issued reports on DHI. Royal Bank Of Canada raised their target price on shares of D.R. Horton from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 18th. Argus reaffirmed a “buy” rating and issued a $39.00 price objective on shares of D.R. Horton in a report on Tuesday, July 26th. Bank of America Corp. cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Friday, July 22nd. Wells Fargo & Co. initiated coverage on shares of D.R. Horton in a report on Wednesday, September 28th. They issued an “outperform” rating for the company. Finally, FBN Securities raised shares of D.R. Horton from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $25.00 to $27.50 in a report on Monday, October 10th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.15.
D.R. Horton (NYSE:DHI) traded down 0.69% on Friday, hitting $27.33. 7,925,176 shares of the company’s stock traded hands. D.R. Horton has a one year low of $22.97 and a one year high of $34.56. The stock has a 50-day moving average of $29.14 and a 200-day moving average of $30.86. The stock has a market cap of $10.17 billion, a PE ratio of 12.15 and a beta of 1.17.
D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by $0.02. D.R. Horton had a net margin of 7.29% and a return on equity of 13.93%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of DHI. Emerald Acquisition Ltd. purchased a new position in shares of D.R. Horton during the second quarter worth approximately $132,964,000. Boston Partners increased its position in shares of D.R. Horton by 96.7% in the second quarter. Boston Partners now owns 5,862,356 shares of the company’s stock worth $184,547,000 after buying an additional 2,881,770 shares during the period. Prudential Financial Inc. increased its position in shares of D.R. Horton by 89.2% in the second quarter. Prudential Financial Inc. now owns 3,717,865 shares of the company’s stock worth $117,039,000 after buying an additional 1,752,500 shares during the period. Oakmont Corp purchased a new position in shares of D.R. Horton during the third quarter worth approximately $48,685,000. Finally, Morgan Stanley increased its position in shares of D.R. Horton by 75.2% in the third quarter. Morgan Stanley now owns 2,844,115 shares of the company’s stock worth $85,892,000 after buying an additional 1,221,140 shares during the period. 83.61% of the stock is currently owned by institutional investors.
In other D.R. Horton news, Director Michael W. Hewatt sold 5,000 shares of D.R. Horton stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $31.87, for a total transaction of $159,350.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $159,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.17% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 28th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 23rd. This is an increase from D.R. Horton’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 1.46%. D.R. Horton’s payout ratio is 13.62%.
About D.R. Horton
D.R. Horton, Inc is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes, through its operating divisions in around 27 states and over 79 metropolitan markets of the United States, under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, Crown Communities and Pacific Ridge Homes.
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