D.R. Horton, Inc. (DHI) to Issue Quarterly Dividend of $0.13 on December 15th
D.R. Horton, Inc. (NYSE:DHI) announced a quarterly dividend on Thursday, November 9th, RTT News reports. Stockholders of record on Friday, December 1st will be given a dividend of 0.125 per share by the construction company on Friday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, November 30th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.10.
D.R. Horton has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Analysts expect D.R. Horton to earn $3.69 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 13.6%.
Shares of D.R. Horton (NYSE:DHI) opened at $50.00 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 6.93. D.R. Horton has a 12 month low of $27.15 and a 12 month high of $50.06. The firm has a market cap of $18,594.37, a P/E ratio of 18.16, a PEG ratio of 1.40 and a beta of 1.28.
D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, November 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.04). The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. D.R. Horton had a net margin of 7.37% and a return on equity of 14.13%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. sell-side analysts expect that D.R. Horton will post 3.21 EPS for the current fiscal year.
In other D.R. Horton news, COO Michael J. Murray sold 7,000 shares of D.R. Horton stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.23, for a total value of $337,610.00. Following the transaction, the chief operating officer now directly owns 56,304 shares of the company’s stock, valued at $2,715,541.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael W. Hewatt sold 4,000 shares of D.R. Horton stock in a transaction on Friday, September 8th. The stock was sold at an average price of $36.11, for a total transaction of $144,440.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at $288,880. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $1,285,910 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.
DHI has been the topic of several research reports. BidaskClub lowered shares of D.R. Horton from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Bank of America Corporation lifted their price objective on shares of D.R. Horton from $43.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 6th. UBS AG initiated coverage on shares of D.R. Horton in a report on Wednesday, October 25th. They set a “buy” rating and a $50.00 price objective on the stock. KeyCorp lifted their price objective on shares of D.R. Horton from $41.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Barclays PLC lifted their price objective on shares of D.R. Horton from $34.00 to $41.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.06.
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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.
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