D.R. Horton, Inc. (NYSE:DHI) Plans Quarterly Dividend of $0.40

D.R. Horton, Inc. (NYSE:DHI) announced a quarterly dividend on Tuesday, October 29th,NASDAQ Dividends reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.40 per share by the construction company on Tuesday, November 19th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30.

D.R. Horton has increased its dividend by an average of 13.1% per year over the last three years. D.R. Horton has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect D.R. Horton to earn $17.02 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 9.4%.

D.R. Horton Price Performance

NYSE DHI opened at $168.79 on Monday. The firm has a market cap of $55.00 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74. The stock’s 50-day moving average is $184.62 and its two-hundred day moving average is $166.30. D.R. Horton has a fifty-two week low of $120.10 and a fifty-two week high of $199.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.25). The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $4.45 EPS. On average, analysts anticipate that D.R. Horton will post 15.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Citigroup cut their price target on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Raymond James lowered shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target on shares of D.R. Horton from $180.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Evercore ISI dropped their price objective on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, D.R. Horton currently has an average rating of “Hold” and a consensus price target of $185.87.

D.R. Horton announced that its board has initiated a share buyback plan on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.