Equities Analysts Issue Forecasts for D.R. Horton Inc.’s Q3 2017 Earnings (DHI)
D.R. Horton Inc. (NYSE:DHI) – Stock analysts at MKM Partners raised their Q3 2017 earnings estimates for shares of D.R. Horton in a report issued on Monday. MKM Partners analyst M. Mcgrath now anticipates that the brokerage will post earnings of $0.70 per share for the quarter, up from their previous forecast of $0.67. MKM Partners currently has a “Hold” rating and a $32.00 target price on the stock. MKM Partners also issued estimates for D.R. Horton’s Q4 2017 earnings at $0.84 EPS and FY2017 earnings at $2.56 EPS.
Other equities research analysts also recently issued reports about the stock. Evercore ISI initiated coverage on shares of D.R. Horton in a research report on Monday. They set a “buy” rating and a $36.00 target price on the stock. Bank of America Corp. raised D.R. Horton from a “neutral” rating to a “buy” rating and raised their price target for the stock from $35.05 to $36.00 in a research note on Tuesday, September 13th. Argus restated a “buy” rating and set a $39.00 price target on shares of D.R. Horton in a report on Tuesday, July 26th. Wells Fargo & Co. assumed coverage on D.R. Horton in a report on Wednesday, September 28th. They issued an “outperform” rating for the company. Finally, Wedbush assumed coverage on D.R. Horton in a research report on Monday, September 19th. They issued an “outperform” rating and a $36.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.10.
Shares of D.R. Horton (NYSE:DHI) opened at 27.79 on Wednesday. The company has a market cap of $10.36 billion, a P/E ratio of 11.78 and a beta of 1.17. D.R. Horton has a 12 month low of $22.97 and a 12 month high of $34.56. The stock’s 50 day moving average is $28.98 and its 200 day moving average is $30.80.
D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 18.1% on a year-over-year basis.
A number of large investors have recently bought and sold shares of DHI. AXA increased its stake in D.R. Horton by 2,300.0% in the first quarter. AXA now owns 9,600 shares of the company’s stock valued at $290,000 after buying an additional 9,200 shares in the last quarter. AMP Capital Investors Ltd increased its stake in D.R. Horton by 94.9% in the first quarter. AMP Capital Investors Ltd now owns 285,387 shares of the company’s stock valued at $8,610,000 after buying an additional 138,957 shares in the last quarter. Invictus RG increased its stake in D.R. Horton by 84.7% in the first quarter. Invictus RG now owns 3,508 shares of the company’s stock valued at $106,000 after buying an additional 1,609 shares in the last quarter. National Pension Service increased its stake in D.R. Horton by 4.6% in the first quarter. National Pension Service now owns 227,125 shares of the company’s stock valued at $6,866,000 after buying an additional 10,062 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in D.R. Horton by 12.1% in the first quarter. Envestnet Asset Management Inc. now owns 139,752 shares of the company’s stock valued at $4,225,000 after buying an additional 15,095 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.
In related news, Director Michael W. Hewatt sold 5,000 shares of D.R. Horton stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $31.87, for a total transaction of $159,350.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $159,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.17% of the company’s stock.
The business 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 23rd. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 1.44%. 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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