Citigroup Has Lowered Expectations for D.R. Horton (NYSE:DHI) Stock Price

D.R. Horton (NYSE:DHI) had its price objective decreased by Citigroup from $186.00 to $185.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the construction company’s stock.

A number of other equities research analysts also recently commented on DHI. JPMorgan Chase & Co. lifted their target price on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada reduced their price objective on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a report on Wednesday. Bank of America increased their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. 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 note on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.33.

D.R. Horton Trading Down 0.8 %

Shares of DHI stock opened at $167.64 on Wednesday. D.R. Horton has a twelve month low of $111.59 and a twelve month high of $199.85. The stock has a market cap of $54.62 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.56 and a beta of 1.74. The company’s 50-day moving average price is $186.47 and its 200-day moving average price is $165.44. The company has a current ratio of 7.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23.

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 return on equity of 19.24% and a net margin of 12.93%. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the business earned $4.45 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts predict that D.R. Horton will post 15.74 earnings per share for the current year.

D.R. Horton announced that its board has authorized a share buyback program on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

D.R. Horton Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its stake in D.R. Horton by 6.6% during the 3rd quarter. Covestor Ltd now owns 1,064 shares of the construction company’s stock worth $203,000 after buying an additional 66 shares during the last quarter. Atria Investments Inc grew its position in shares of D.R. Horton by 6.4% during the third quarter. Atria Investments Inc now owns 58,847 shares of the construction company’s stock worth $11,226,000 after acquiring an additional 3,544 shares during the last quarter. Demars Financial Group LLC increased its holdings in shares of D.R. Horton by 3.5% in the 3rd quarter. Demars Financial Group LLC now owns 2,197 shares of the construction company’s stock valued at $419,000 after acquiring an additional 74 shares during the period. Assetmark Inc. boosted its stake in D.R. Horton by 4.4% during the 3rd quarter. Assetmark Inc. now owns 460,114 shares of the construction company’s stock worth $87,776,000 after purchasing an additional 19,511 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in D.R. Horton by 4.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,959 shares of the construction company’s stock worth $564,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

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.