D.R. Horton Inc. (DHI) Coverage Initiated at Evercore ISI
Stock analysts at Evercore ISI began coverage on shares of D.R. Horton Inc. (NYSE:DHI) in a research note issued to investors on Monday. The firm set a “buy” rating and a $36.00 price target on the stock. Evercore ISI’s price target indicates a potential upside of 27.16% from the stock’s current price.
A number of other analysts have also weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of D.R. Horton from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, July 18th. Argus reaffirmed a “buy” rating and issued a $39.00 price objective on shares of D.R. Horton in a research note on Tuesday, July 26th. Bank of America Corp. lowered 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 research note on Friday, July 22nd. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of D.R. Horton in a research note on Tuesday, November 8th. Finally, Wells Fargo & Co. started coverage on shares of D.R. Horton in a research note on Wednesday, September 28th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.10.
Shares of D.R. Horton (NYSE:DHI) traded down 1.27% during mid-day trading on Monday, hitting $27.95. 421,864 shares of the stock were exchanged. D.R. Horton has a 52-week low of $22.97 and a 52-week high of $34.56. The stock has a 50-day moving average price of $29.14 and a 200 day moving average price of $30.86. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 11.84 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by $0.02. D.R. Horton had a return on equity of 13.93% and a net margin of 7.29%. The business earned $3.70 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts expect that D.R. Horton will post $2.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 28th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Wednesday, November 23rd. This is an increase from D.R. Horton’s previous quarterly dividend of $0.08. D.R. Horton’s dividend payout ratio is 13.62%.
In related news, Director Michael W. Hewatt sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $31.87, for a total value of $159,350.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $159,350. The sale was disclosed in a filing with the SEC, which is available through this link. 7.17% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of D.R. Horton during the second quarter valued at $132,964,000. Boston Partners boosted its stake 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 last quarter. Prudential Financial Inc. boosted its stake 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 last quarter. Oakmont Corp purchased a new stake in shares of D.R. Horton during the third quarter worth approximately $48,685,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of D.R. Horton during the third quarter worth approximately $38,140,000. Institutional investors own 82.80% of the company’s stock.
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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