D.R. Horton (NYSE:DHI) Given New $145.00 Price Target 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 report sent to investors on Wednesday morning, Benzinga reports. They currently have an underperform rating on the construction company’s stock.

Several other analysts also recently issued reports on DHI. JPMorgan Chase & Co. upped their price target on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. UBS Group decreased their target price on D.R. Horton from $217.00 to $214.00 and set a “buy” rating for the company in a research report on Wednesday. JMP Securities lifted their price target 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 raised their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Barclays boosted their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.87.

D.R. Horton Stock Up 1.2 %

Shares of D.R. Horton stock opened at $169.29 on Wednesday. The stock has a 50-day simple moving average of $187.29 and a 200-day simple moving average of $165.15. D.R. Horton has a 52-week low of $102.23 and a 52-week high of $199.85. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.20 by ($0.28). D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter last year, the company earned $4.45 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts expect that D.R. Horton will post 14.03 earnings per share for the current fiscal 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. This represents a $1.60 annualized dividend and a yield of 0.95%. 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. D.R. Horton’s payout ratio is 8.17%.

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

Institutional Trading of D.R. Horton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHI. Concurrent Investment Advisors LLC acquired a new stake in D.R. Horton during the first quarter valued at approximately $1,249,000. BI Asset Management Fondsmaeglerselskab A S raised its stake 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 worth $5,787,000 after acquiring an additional 16,252 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of D.R. Horton by 107.6% during the first quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock valued at $2,444,000 after acquiring an additional 7,699 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of D.R. Horton by 92.3% in 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. bought a new stake in shares of D.R. Horton in the 1st quarter worth about $4,161,000. 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.