D.R. Horton, Inc. (NYSE:DHI) – Analysts at MKM Partners reduced their FY2017 earnings estimates for D.R. Horton in a research note issued to investors on Wednesday. MKM Partners analyst M. Mcgrath now forecasts that the construction company will post earnings of $2.69 per share for the year, down from their previous estimate of $2.75. MKM Partners also issued estimates for D.R. Horton’s Q4 2017 earnings at $0.77 EPS, Q4 2018 earnings at $0.89 EPS and FY2018 earnings at $2.92 EPS.

A number of other research analysts have also recently issued reports on the company. Deutsche Bank AG reaffirmed a “hold” rating and issued a $36.00 price target (up from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. Credit Suisse Group started coverage on D.R. Horton in a report on Thursday, June 22nd. They issued an “outperform” rating and a $38.00 price target for the company. Raymond James Financial, Inc. raised D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a report on Friday, June 30th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $41.00 price target (up from $39.00) on shares of D.R. Horton in a report on Monday, July 10th. Finally, Wedbush reaffirmed an “outperform” rating on shares of D.R. Horton in a report on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. D.R. Horton currently has a consensus rating of “Buy” and a consensus price target of $37.62.

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D.R. Horton (NYSE:DHI) opened at 41.08 on Friday. The company has a 50-day moving average of $37.22 and a 200-day moving average of $35.01. D.R. Horton has a 12 month low of $26.69 and a 12 month high of $41.30. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 15.39 and a beta of 1.24.

D.R. Horton (NYSE:DHI) last announced its earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. D.R. Horton’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS.

Several institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC grew its position in shares of D.R. Horton by 16.7% during the 2nd quarter. Lord Abbett & CO. LLC now owns 165,000 shares of the construction company’s stock worth $5,704,000 after buying an additional 23,600 shares during the period. Toronto Dominion Bank grew its position in shares of D.R. Horton by 23.7% during the 2nd quarter. Toronto Dominion Bank now owns 120,832 shares of the construction company’s stock worth $4,177,000 after buying an additional 23,143 shares during the period. Cetera Investment Advisers acquired a new position in shares of D.R. Horton during the 2nd quarter worth about $216,000. Advisory Services Network LLC grew its position in shares of D.R. Horton by 131.9% during the 2nd quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock worth $137,000 after buying an additional 2,250 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of D.R. Horton by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 217,005 shares of the construction company’s stock worth $7,502,000 after buying an additional 565 shares during the period. Institutional investors own 82.29% of the company’s stock.

In other news, Director Barbara K. Allen sold 1,666 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $36.03, for a total transaction of $60,025.98. Following the completion of the transaction, the director now directly owns 7,316 shares in the company, valued at approximately $263,595.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bradley S. Anderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $37.46, for a total value of $374,600.00. Following the transaction, the director now owns 36,828 shares of the company’s stock, valued at $1,379,576.88. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock valued at $912,606 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

D.R. Horton declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About D.R. Horton

D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.

Earnings History and Estimates for D.R. Horton (NYSE:DHI)

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