BTIG Research Cuts D.R. Horton (NYSE:DHI) Price Target to $186.00

D.R. Horton (NYSE:DHI) had its price objective reduced by BTIG Research from $190.00 to $186.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts also recently weighed in on DHI. Barclays raised their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods raised their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. UBS Group reduced their price target on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI reduced their target price on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and decreased their target price for the company from $181.00 to $156.00 in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.33.

D.R. Horton Trading Down 0.8 %

NYSE:DHI opened at $167.61 on Wednesday. The business’s 50-day moving average is $186.47 and its two-hundred day moving average is $165.31. The firm has a market capitalization of $54.61 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.57 and a beta of 1.72. D.R. Horton has a 12 month low of $111.59 and a 12 month high of $199.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.30.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period last year, the firm posted $4.45 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. Research analysts predict that D.R. Horton will post 15.87 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date 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 dividend payout ratio is currently 8.36%.

D.R. Horton declared that its board has authorized a stock buyback plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On D.R. Horton

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHI. Concurrent Investment Advisors LLC purchased a new stake in shares of D.R. Horton during the first quarter worth $1,249,000. BI Asset Management Fondsmaeglerselskab A S raised its position in D.R. Horton by 85.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock valued at $5,787,000 after acquiring an additional 16,252 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of D.R. Horton by 107.6% during the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock worth $2,444,000 after purchasing an additional 7,699 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of D.R. Horton by 92.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock valued at $68,448,000 after purchasing an additional 199,668 shares in the last quarter. Finally, Concord Investment Counsel Inc. acquired a new stake in shares of D.R. Horton in the 1st quarter valued at $4,161,000. 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.