D.R. Horton, Inc. (NYSE:DHI) – Equities researchers at Wedbush dropped their FY2017 EPS estimates for shares of D.R. Horton in a note issued to investors on Thursday. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings of $2.67 per share for the year, down from their previous estimate of $2.77. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for D.R. Horton’s Q4 2017 earnings at $0.76 EPS, Q1 2018 earnings at $0.61 EPS and Q4 2018 earnings at $0.97 EPS.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “Brokers Offer Predictions for D.R. Horton, Inc.’s FY2017 Earnings (DHI)” was first reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.watchlistnews.com/brokers-offer-predictions-for-d-r-horton-inc-s-fy2017-earnings-dhi/1574801.html.

Several other research firms have also recently weighed in on DHI. BidaskClub upgraded shares of D.R. Horton from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 price objective (up from $34.00) on shares of D.R. Horton in a research report on Thursday, July 27th. Wells Fargo & Company reiterated an “outperform” rating and set a $41.00 price objective (up from $39.00) on shares of D.R. Horton in a research report on Monday, July 10th. Raymond James Financial, Inc. upgraded shares of D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Friday, June 30th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $42.00 price objective (up from $41.00) on shares of D.R. Horton in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. D.R. Horton currently has a consensus rating of “Buy” and an average target price of $36.59.

Shares of D.R. Horton (DHI) opened at 37.57 on Monday. The firm has a market cap of $14.06 billion, a PE ratio of 14.08 and a beta of 1.24. The stock’s 50 day moving average price is $36.29 and its 200 day moving average price is $34.51. D.R. Horton has a 12-month low of $26.69 and a 12-month high of $37.78.

A number of large investors have recently modified their holdings of DHI. Acadian Asset Management LLC boosted its holdings in D.R. Horton by 16,783.6% in the first quarter. Acadian Asset Management LLC now owns 11,312 shares of the construction company’s stock worth $377,000 after purchasing an additional 11,245 shares in the last quarter. Strs Ohio boosted its holdings in D.R. Horton by 8.4% in the first quarter. Strs Ohio now owns 29,503 shares of the construction company’s stock worth $982,000 after purchasing an additional 2,287 shares in the last quarter. LSV Asset Management bought a new stake in D.R. Horton in the first quarter worth $356,000. American Century Companies Inc. bought a new stake in D.R. Horton in the first quarter worth $9,818,000. Finally, Suntrust Banks Inc. bought a new stake in D.R. Horton in the first quarter worth $257,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

In other news, Director Michael R. Buchanan sold 9,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $37.06, for a total transaction of $333,540.00. Following the transaction, the director now directly owns 24,880 shares in the company, valued at approximately $922,052.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Barbara K. Allen sold 1,666 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $36.03, for a total transaction of $60,025.98. Following the transaction, the director now owns 7,316 shares in the company, valued at $263,595.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,666 shares of company stock worth $912,606. 7.20% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Monday, August 7th. D.R. Horton’s dividend payout ratio is currently 15.04%.

D.R. Horton announced that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company’s management believes its stock is undervalued.

D.R. Horton Company Profile

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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