D.R. Horton’s profit boosted by higher home sales
Parties interested in participating in the company’s conference call can do so using this link. Analysts are expecting the homebuilder to report a year over year rise in earnings per share and revenue for the latest quarter. In terms of floated shares, the short interest was calculated to be 4.7%.
Analysts on average had expected a profit of 50 cents per share on revenue $2.70 billion, according to Thomson Reuters I/B/E/S.
Access Investor Kit for “D.R. Horton, Inc”. The 50-Day Moving Average price is $27.26 and the 200 Day Moving Average price is recorded at $26.64. The shares have been rated as hold from 12 Wall Street Analysts.
Shares of D.R. Horton closed higher by 0.06% to $26.74 on Monday afternoon. Analysts at Raymond James reiterated an “outperform” rating and set a $29.00 price target (down previously from $31.00) on shares of D.R. Horton in a research note on Tuesday, May 19th.
Shares of D.R. Horton, which caters to people buying their first or second homes, rose 1.3 percent to $27.1 in premarket trading on Tuesday. The Company constructs and sells homes through its operating divisions in 27 states and 78 metropolitan markets of the United States, primarily under the name of D.R. Horton, Americas Builder. The company has a market cap of $9,800 million and there are 366,625,000 shares in outstanding. The shares were sold at an average price of $26.75, for a total value of $59,438.50. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
The company is well-positioned to conclude fiscal year 2015 on a strong note, on the back of “robust community count, finished lot supply and inventory of homes available for sale and [their] diversified D.R. Horton, Emerald Homes and Express Homes product offerings”, as per the company’s official earnings release. The company has made substantial progress toward its goal of garnering sustainable positive cash flow from operations, which came in at $357.40 million. Through its financial services operations, the Company provides mortgages financing and title agency services to homebuyers in many of its homebuilding markets.