Raymond James Downgrades D.R. Horton (NYSE:DHI) to Market Perform

Raymond James cut shares of D.R. Horton (NYSE:DHI) from an outperform rating to a market perform rating in a research report sent to investors on Thursday, Marketbeat reports.

Several other research firms also recently issued reports on DHI. Citigroup reduced their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Bank of America raised their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company reduced their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target on the stock in a report on Tuesday, October 15th. Finally, BTIG Research decreased their price objective on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $185.87.

D.R. Horton Stock Performance

DHI stock opened at $168.79 on Thursday. D.R. Horton has a 1-year low of $120.10 and a 1-year high of $199.85. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $184.62 and a 200-day moving average price of $166.30. The firm has a market cap of $55.00 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.45 earnings per share. As a group, equities research analysts expect that D.R. Horton will post 15.54 earnings per share for the current year.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is presently 8.36%.

D.R. Horton declared that its board has approved a stock buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of D.R. Horton

Institutional investors and hedge funds have recently modified their holdings of the business. TCI Wealth Advisors Inc. raised its holdings in shares of D.R. Horton by 4.1% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,487 shares of the construction company’s stock valued at $284,000 after buying an additional 58 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in D.R. Horton by 1.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock valued at $872,000 after acquiring an additional 59 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of D.R. Horton by 1.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock worth $739,000 after acquiring an additional 60 shares during the period. Whittier Trust Co. lifted its position in D.R. Horton by 1.7% during the second quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock valued at $520,000 after buying an additional 63 shares during the period. Finally, Values First Advisors Inc. lifted its position in D.R. Horton by 0.7% during the 2nd quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock valued at $1,251,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Company Profile

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.