D.R. Horton (NYSE:DHI) Shares Gap Up After Better-Than-Expected Earnings

D.R. Horton, Inc. (NYSE:DHI) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $145.74, but opened at $153.00. D.R. Horton shares last traded at $150.01, with a volume of 1,129,086 shares traded.

The construction company reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.43. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.15 billion. D.R. Horton had a return on equity of 21.06% and a net margin of 13.18%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.73 EPS.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.82%. D.R. Horton’s payout ratio is 8.63%.

Analysts Set New Price Targets

A number of research firms have issued reports on DHI. Citigroup increased their price target on D.R. Horton from $166.00 to $191.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed an “underperform” rating and set a $130.00 target price on shares of D.R. Horton in a research report on Thursday. The Goldman Sachs Group upped their target price on D.R. Horton from $150.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Raymond James upped their target price on D.R. Horton from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Barclays upped their target price on D.R. Horton from $166.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $154.00.

Insider Activity

In other news, Director Barbara K. Allen sold 1,748 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total transaction of $250,418.48. Following the completion of the sale, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $809,419. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Barbara K. Allen sold 1,748 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total transaction of $250,418.48. Following the completion of the sale, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $809,419. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barbara K. Allen sold 449 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $149.39, for a total value of $67,076.11. Following the sale, the director now directly owns 5,650 shares of the company’s stock, valued at $844,053.50. The disclosure for this sale can be found here. Insiders sold a total of 27,197 shares of company stock valued at $4,225,745 in the last ninety days. 1.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of D.R. Horton by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 35,902,967 shares of the construction company’s stock worth $2,675,130,000 after acquiring an additional 406,429 shares during the period. State Street Corp grew its stake in shares of D.R. Horton by 3.6% during the 1st quarter. State Street Corp now owns 13,712,390 shares of the construction company’s stock worth $1,339,558,000 after acquiring an additional 480,247 shares during the period. Geode Capital Management LLC grew its stake in shares of D.R. Horton by 0.7% during the 1st quarter. Geode Capital Management LLC now owns 6,515,717 shares of the construction company’s stock worth $635,060,000 after acquiring an additional 45,030 shares during the period. Invesco Ltd. grew its stake in shares of D.R. Horton by 17.0% during the 1st quarter. Invesco Ltd. now owns 4,771,705 shares of the construction company’s stock worth $355,538,000 after acquiring an additional 694,155 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake in D.R. Horton by 101,707.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,368,566 shares of the construction company’s stock worth $389,414,000 after purchasing an additional 4,364,275 shares during the period. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Up 0.1 %

The firm has a 50 day simple moving average of $151.97 and a 200 day simple moving average of $138.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 6.56. The firm has a market cap of $48.42 billion, a P/E ratio of 10.50, a P/E/G ratio of 0.72 and a beta of 1.64.

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