Keefe, Bruyette & Woods Equities Analysts Reduce Earnings Estimates for D.R. Horton, Inc. (DHI)
D.R. Horton, Inc. (NYSE:DHI) – Analysts at Keefe, Bruyette & Woods lowered their FY2017 EPS estimates for D.R. Horton in a note issued to investors on Tuesday. Keefe, Bruyette & Woods analyst J. Rahmani now anticipates that the construction company will earn $2.70 per share for the year, down from their prior estimate of $2.75. Keefe, Bruyette & Woods also issued estimates for D.R. Horton’s Q4 2017 earnings at $0.79 EPS.
DHI has been the subject of a number of other research reports. BidaskClub upgraded D.R. Horton from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Royal Bank Of Canada reiterated a “buy” rating and set a $42.00 target price on shares of D.R. Horton in a report on Monday, September 25th. Wedbush reiterated an “outperform” rating on shares of D.R. Horton in a report on Saturday, September 16th. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 target price (up previously from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. upgraded D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $37.62.
Shares of D.R. Horton (NYSE:DHI) opened at 41.08 on Thursday. The stock’s 50 day moving average is $37.22 and its 200 day moving average is $35.01. D.R. Horton has a 12 month low of $26.69 and a 12 month high of $41.30. The firm has a market cap of $15.38 billion, a PE 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The company 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 last year, the firm posted $0.66 earnings per share.
D.R. Horton declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Michael R. Buchanan sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was 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 of the company’s stock, valued at approximately $922,052.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara K. Allen sold 1,666 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $36.03, for a total value of $60,025.98. Following the transaction, the director now directly owns 7,316 shares in the company, valued at $263,595.48. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock worth $912,606 over the last three months. 7.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in DHI. BlackRock Inc. lifted its position in D.R. Horton by 4,643.2% during the 1st quarter. BlackRock Inc. now owns 31,771,328 shares of the construction company’s stock worth $1,058,305,000 after acquiring an additional 31,101,501 shares in the last quarter. Capital Growth Management LP raised its position in shares of D.R. Horton by 107.5% in the 1st quarter. Capital Growth Management LP now owns 3,320,000 shares of the construction company’s stock valued at $110,589,000 after purchasing an additional 1,720,000 shares in the last quarter. Sirios Capital Management L P acquired a new position in shares of D.R. Horton in the 2nd quarter valued at approximately $36,744,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of D.R. Horton by 1,823.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,090,284 shares of the construction company’s stock valued at $36,357,000 after purchasing an additional 1,033,600 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of D.R. Horton by 1,749.9% in the 1st quarter. Nuveen Asset Management LLC now owns 1,022,867 shares of the construction company’s stock valued at $34,072,000 after purchasing an additional 967,573 shares in the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
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.
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