D.R. Horton, Inc. (NYSE:DHI) Announces Quarterly Dividend of $0.50

Key Points

• D.R. Horton raised its quarterly dividend 11.1% to $0.50 per share, payable November 19 to shareholders of record on November 12. The annualized dividend is $2.00, yielding approximately 1.4%.
• The company has increased its dividend for 10 consecutive years, with a low 14.5% payout ratio, indicating substantial earnings coverage and room to sustain future payments.
• D.R. Horton’s latest quarterly EPS of $2.67 missed analysts’ $2.99 estimate, although revenue of $9.37 billion exceeded expectations. Analysts maintain a consensus “Hold” rating with an average price target of $153.27.

D.R. Horton, Inc. (NYSE:DHI - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.50 per share by the construction company on Thursday, November 19th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 12th. This is a 11.1% increase from D.R. Horton's previous quarterly dividend of $0.45.

D.R. Horton has increased its dividend by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. D.R. Horton has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect D.R. Horton to earn $11.35 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 15.9%.

D.R. Horton Stock Up 2.3%

NYSE:DHI traded up $3.25 during trading hours on Thursday, reaching $146.25. The company's stock had a trading volume of 5,253,045 shares, compared to its average volume of 2,727,547. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43. The company has a market capitalization of $40.91 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 2.30 and a beta of 1.35. D.R. Horton has a 12 month low of $130.40 and a 12 month high of $170.79. The stock has a 50 day moving average price of $140.91 and a two-hundred day moving average price of $147.82.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its earnings results on Thursday, October 29th. The construction company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($0.32). The company had revenue of $9.37 billion during the quarter, compared to analysts' expectations of $9.05 billion. D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. D.R. Horton's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. Equities analysts predict that D.R. Horton will post 10.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DHI has been the topic of several recent analyst reports. Melius Research started coverage on D.R. Horton in a research report on Tuesday, October 6th. They set a "sell" rating and a $128.00 target price on the stock. Stonex Financia raised D.R. Horton to a "hold" rating in a report on Thursday, October 15th. Keefe, Bruyette & Woods dropped their price target on D.R. Horton from $160.00 to $152.00 in a research note on Thursday, October 22nd. Truist Financial cut their price objective on shares of D.R. Horton from $150.00 to $140.00 and set a "hold" rating on the stock in a report on Wednesday, September 16th. Finally, Zelman & Associates raised shares of D.R. Horton from a "neutral" rating to an "outperform" rating in a research report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $153.27.

About D.R. Horton

D.R. Horton, Inc is a residential construction company that builds and sells single-family detached and attached homes in the United States. Its offerings include entry-level, move-up, luxury and active-adult housing, serving a range of homebuyers through brands such as D.R. Horton, Express Homes, Emerald Homes and Freedom Homes.

The company's operations also include land acquisition and development, home financing and title services. Through subsidiaries and affiliated businesses, D.R.

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