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

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

Several other equities analysts have also recently issued reports on the company. Evercore ISI decreased their price target on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a report on Wednesday. JMP Securities upped their target price on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Bank of America lifted their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Barclays increased their price objective on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.33.

D.R. Horton Stock Down 0.8 %

Shares of NYSE:DHI opened at $167.61 on Wednesday. D.R. Horton has a 52 week low of $111.59 and a 52 week high of $199.85. The company has a market capitalization of $54.61 billion, a PE ratio of 11.67, a P/E/G ratio of 0.57 and a beta of 1.72. The company’s fifty day moving average is $186.47 and its 200-day moving average is $165.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.32.

D.R. Horton (NYSE:DHI) last announced its 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 business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the firm earned $4.45 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. Equities 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 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 $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. D.R. Horton’s dividend payout ratio is presently 8.36%.

D.R. Horton announced that its board has initiated a stock buyback plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bfsg LLC lifted its position in shares of D.R. Horton by 70.5% in the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after purchasing an additional 74 shares in the last quarter. RiverPark Advisors LLC bought a new stake in D.R. Horton during the first quarter worth about $29,000. Signature Resources Capital Management LLC acquired a new stake in shares of D.R. Horton in the 2nd quarter valued at approximately $31,000. Wolff Wiese Magana LLC increased its holdings in D.R. Horton by 1,306.7% during the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after buying an additional 196 shares during the last quarter. Finally, Grove Bank & Trust raised its position in D.R. Horton by 76.2% during the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after acquiring an additional 93 shares in the last quarter. 90.63% of the stock is currently 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.