D.R. Horton (NYSE:DHI) Lowered to “Market Perform” Rating by Raymond James

Raymond James downgraded shares of D.R. Horton (NYSE:DHI) from an outperform rating to a market perform rating in a research report report published on Thursday morning, Marketbeat reports.

Several other equities research analysts have also recently weighed in on DHI. Citigroup reduced their price target on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. UBS Group lowered their target price on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday, October 15th. BTIG Research cut their target price on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $185.87.

D.R. Horton Trading Up 0.4 %

D.R. Horton stock traded up $0.69 during mid-day trading on Thursday, reaching $168.80. 1,160,127 shares of the company traded hands, compared to its average volume of 2,511,044. The firm’s 50 day moving average price is $185.40 and its 200 day moving average price is $165.98. D.R. Horton has a 52-week low of $120.10 and a 52-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. The firm has a market capitalization of $55.00 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 0.57 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. D.R. Horton’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.45 earnings per share. On average, analysts anticipate that D.R. Horton will post 15.64 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s payout ratio is currently 11.14%.

D.R. Horton announced that its Board of Directors has initiated a stock buyback program on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On D.R. Horton

A number of hedge funds have recently bought and sold shares of DHI. Legacy CG LLC bought a new position in shares of D.R. Horton during the 3rd quarter valued at approximately $4,220,000. Concurrent Investment Advisors LLC purchased a new stake in shares of D.R. Horton in the first quarter valued at $1,249,000. Bessemer Group Inc. lifted its holdings in shares of D.R. Horton by 107.6% in the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock worth $2,444,000 after acquiring an additional 7,699 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of D.R. Horton by 92.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock worth $68,448,000 after purchasing an additional 199,668 shares during the period. Finally, DNB Asset Management AS grew its holdings in D.R. Horton by 10.3% during the 2nd quarter. DNB Asset Management AS now owns 50,605 shares of the construction company’s stock valued at $7,132,000 after purchasing an additional 4,723 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Company Profile

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.