D.R. Horton, Inc. Announces Quarterly Dividend of $0.30 (NYSE:DHI)

D.R. Horton, Inc. (NYSE:DHI) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Investors of record on Thursday, August 1st will be given a dividend of 0.30 per share by the construction company on Thursday, August 8th. This represents a $1.20 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, August 1st.

D.R. Horton has raised its dividend by an average of 13.1% annually over the last three years. D.R. Horton has a dividend payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect D.R. Horton to earn $15.80 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.6%.

D.R. Horton Trading Up 1.0 %

D.R. Horton stock opened at $178.71 on Tuesday. D.R. Horton has a 1 year low of $100.08 and a 1 year high of $180.15. The firm’s 50 day moving average price is $148.32 and its 200-day moving average price is $149.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The stock has a market cap of $58.23 billion, a P/E ratio of 12.17, a PEG ratio of 0.79 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.90 EPS. On average, equities analysts predict that D.R. Horton will post 14.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DHI shares. Evercore ISI upped their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. UBS Group boosted their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Barclays lifted their price target on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Bank of America boosted their price objective on D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, D.R. Horton currently has an average rating of “Hold” and a consensus price target of $175.60.

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

Insider Buying and Selling

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $150.70, for a total value of $301,400.00. Following the transaction, the director now directly owns 1,703 shares in the company, valued at approximately $256,642.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.74% of the stock is currently owned by insiders.

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.