D.R. Horton (NYSE:DHI) Stock Rating Lowered by Raymond James

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

A number of other equities research analysts also recently commented on the stock. Citigroup cut their target price 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. Barclays cut their price objective on D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price on the stock in a report on Tuesday, October 15th. BTIG Research cut their price target on D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Evercore ISI reduced their price target on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, D.R. Horton currently has a consensus rating of “Hold” and a consensus price target of $185.87.

D.R. Horton Stock Performance

DHI stock opened at $168.79 on Thursday. The stock’s 50 day simple moving average is $184.62 and its 200 day simple moving average is $166.17. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. D.R. Horton has a 12-month low of $120.10 and a 12-month high of $199.85. The stock has a market capitalization 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 announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the previous year, the company earned $4.45 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts forecast that D.R. Horton will post 15.54 earnings per share for the current fiscal year.

D.R. Horton announced that its Board of Directors has initiated a share buyback program on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.40 per share. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. D.R. Horton’s payout ratio is 8.36%.

Institutional Investors Weigh In On D.R. Horton

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of D.R. Horton by 7.6% during the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after purchasing an additional 2,474,262 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after buying an additional 987,834 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of D.R. Horton by 51.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after buying an additional 561,337 shares during the last quarter. Long Pond Capital LP lifted its holdings in shares of D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after buying an additional 537,276 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of D.R. Horton by 265.6% during the first quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock worth $73,239,000 after acquiring an additional 354,789 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

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.