D.R. Horton (NYSE:DHI) Price Target Lowered to $145.00 at Royal Bank of Canada

D.R. Horton (NYSE:DHI) had its target price cut by Royal Bank of Canada from $154.00 to $145.00 in a research note released on Wednesday, Benzinga reports. They currently have an underperform rating on the construction company’s stock.

Several other equities research analysts have also commented on DHI. Barclays boosted their price target on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Bank of America boosted their price target on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company decreased their price target on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group decreased their price target on D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, 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 research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, D.R. Horton currently has an average rating of “Moderate Buy” and an average target price of $185.33.

D.R. Horton Stock Performance

Shares of DHI stock opened at $167.64 on Wednesday. The stock has a market capitalization of $54.62 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 52-week low of $111.59 and a 52-week high of $199.85. The stock’s 50-day moving average price is $186.47 and its 200 day moving average price is $165.44. The company has a quick ratio of 1.30, a current ratio of 7.32 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data 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 analysts’ expectations of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. D.R. Horton’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.45 EPS. As a group, equities research analysts forecast that D.R. Horton will post 15.87 EPS for the current year.

D.R. Horton Increases Dividend

The firm 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. The ex-dividend date is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 0.95%. D.R. Horton’s payout ratio is 8.36%.

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

Institutional Trading of D.R. Horton

Institutional investors and hedge funds have recently made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of D.R. Horton during the 1st quarter worth $1,249,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of D.R. Horton by 85.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after buying an additional 16,252 shares during the last quarter. Bessemer Group Inc. increased its holdings 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 buying an additional 7,699 shares during the last quarter. Canada Pension Plan Investment Board increased 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 worth $68,448,000 after buying an additional 199,668 shares during the last quarter. Finally, Concord Investment Counsel Inc. acquired a new stake in D.R. Horton in the 1st quarter valued at $4,161,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

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.