D.R. Horton, Inc. to Post FY2023 Earnings of $13.33 Per Share, Zacks Research Forecasts (NYSE:DHI)

D.R. Horton, Inc. (NYSE:DHI) – Investment analysts at Zacks Research cut their FY2023 earnings per share estimates for D.R. Horton in a research report issued on Wednesday, September 13th. Zacks Research analyst S. Mukherjee now expects that the construction company will post earnings of $13.33 per share for the year, down from their previous estimate of $13.37. The consensus estimate for D.R. Horton’s current full-year earnings is $13.27 per share. Zacks Research also issued estimates for D.R. Horton’s Q4 2023 earnings at $3.94 EPS, Q2 2024 earnings at $3.07 EPS, Q3 2024 earnings at $3.98 EPS, Q4 2024 earnings at $4.01 EPS, FY2024 earnings at $13.87 EPS, Q1 2025 earnings at $2.95 EPS, Q2 2025 earnings at $3.37 EPS, Q3 2025 earnings at $4.20 EPS and FY2025 earnings at $14.76 EPS.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, July 20th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $2.82 by $1.08. The firm had revenue of $9.73 billion during the quarter, compared to the consensus estimate of $8.27 billion. D.R. Horton had a return on equity of 23.31% and a net margin of 14.07%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.67 earnings per share.

Several other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on D.R. Horton from $125.00 to $142.00 and gave the stock a “market perform” rating in a report on Tuesday, July 25th. BTIG Research boosted their price target on D.R. Horton from $139.00 to $164.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of D.R. Horton in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on D.R. Horton in a report on Wednesday, May 31st. They issued a “buy” rating and a $150.00 target price on the stock. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $120.00 target price on shares of D.R. Horton in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, D.R. Horton has a consensus rating of “Moderate Buy” and an average price target of $136.19.

D.R. Horton Stock Performance

NYSE:DHI opened at $112.33 on Friday. The stock has a market cap of $38.00 billion, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 0.46 and a beta of 1.55. The company has a current ratio of 6.97, a quick ratio of 1.41 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average is $121.98 and its 200-day moving average is $111.40. D.R. Horton has a 1-year low of $66.01 and a 1-year high of $132.30.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, August 4th. D.R. Horton’s dividend payout ratio (DPR) is presently 7.11%.

Insider Buying and Selling at D.R. Horton

In other news, CFO Bill W. Wheat sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $117.81, for a total transaction of $3,769,920.00. Following the transaction, the chief financial officer now directly owns 219,115 shares of the company’s stock, valued at $25,813,938.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Bill W. Wheat sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $117.81, for a total transaction of $3,769,920.00. Following the transaction, the chief financial officer now directly owns 219,115 shares of the company’s stock, valued at $25,813,938.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Buchanan sold 1,639 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $127.03, for a total value of $208,202.17. Following the transaction, the director now directly owns 470 shares in the company, valued at $59,704.10. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On D.R. Horton

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Manhattan West Asset Management LLC raised its position in D.R. Horton by 12.6% in the 2nd quarter. Manhattan West Asset Management LLC now owns 18,394 shares of the construction company’s stock valued at $2,238,000 after buying an additional 2,054 shares during the last quarter. Chapin Davis Inc. purchased a new stake in D.R. Horton in the 2nd quarter valued at $2,489,000. Delphi Management Inc. MA purchased a new stake in D.R. Horton in the 2nd quarter valued at $1,416,000. CTC Alternative Strategies Ltd. purchased a new stake in D.R. Horton in the 2nd quarter valued at $286,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in D.R. Horton in the 2nd quarter valued at $21,979,000. 82.12% of the stock is owned by hedge funds and other institutional investors.

About D.R. Horton

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 106 markets across 33 states under the names of D.R.