D.R. Horton, Inc. Plans Quarterly Dividend of $0.40 (NYSE:DHI)

D.R. Horton, Inc. (NYSE:DHI - Get Free Report) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Shareholders of record on Friday, May 2nd will be given a dividend of 0.40 per share by the construction company on Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, May 2nd.

D.R. Horton has increased its dividend by an average of 16.4% annually over the last three years. D.R. Horton has a dividend payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect D.R. Horton to earn $14.44 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 11.1%.

D.R. Horton Trading Up 1.0 %

Shares of DHI traded up $1.27 during trading hours on Thursday, hitting $126.06. 3,309,297 shares of the stock traded hands, compared to its average volume of 2,940,684. The business has a fifty day moving average of $126.07 and a 200-day moving average of $145.93. The company has a current ratio of 6.92, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $39.72 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61. D.R. Horton has a 1-year low of $110.44 and a 1-year high of $199.85.

D.R. Horton (NYSE:DHI - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The construction company reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.11). D.R. Horton had a net margin of 12.69% and a return on equity of 18.48%. The business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the company earned $3.52 earnings per share. Analysts expect that D.R. Horton will post 13.04 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DHI shares. StockNews.com lowered shares of D.R. Horton from a "hold" rating to a "sell" rating in a report on Tuesday. BTIG Research reduced their target price on shares of D.R. Horton from $171.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Citigroup decreased their price objective on D.R. Horton from $185.00 to $152.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Wedbush reaffirmed a "neutral" rating and set a $180.00 price target on shares of D.R. Horton in a report on Friday, January 17th. Finally, Wells Fargo & Company lowered their target price on D.R. Horton from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $151.15.

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.