D. R. Horton Inc. (DHI) - NYSE
  • Fri, Jul. 22, 11:00 AM
    • Citing valuation and a lack of near-term catalysts, Bank of America downgrades D.R. Horton (DHI -1.2%) to Neutral from Buy. The $36 price target remains, and compares to the current $33.95.
    • The stock has rallied about 50% from the mid-February market lows.
    • Looking at the earnings call transcript, valuation was clearly on the mind of BofA analyst John Lovallo, as he asked if private builders had raised their asking prices as much as public valuations have moved in the last weeks. COO Michael Murray notes a "valuation gap" nearly always exists in initial talks, but his company is in no hurry to make acquisitions.
    | Fri, Jul. 22, 11:00 AM
  • Fri, Jun. 17, 10:30 AM
    • May housing starts at a seasonally-adjusted annualized pace of 1.164M edged lower from April, but were up 9.5% from a year ago (and vs. expected 1.15M). Single-family starts of 764K were slightly higher than April.
    • The major averages are modestly lower on the session, but the homebuilders (ITB +1%) are posting strong gains, led by Toll Brothers (TOL +1.6%), Hovnanian (HOV +3.7%), KB Home (KBH +1.8%), Lennar (LEN +1.2%), PulteGroup (PHM +1.4%), Beazer (BZH +4.7%), D.R. Horton (DHI +1.2%).
    | Fri, Jun. 17, 10:30 AM
  • Tue, Jun. 7, 2:31 PM
    • The major averages are up modestly, but the homebuilders (ITB +2.2%) are posting sharp gains, helped by a report Elliot Management has taken a stake in PulteGroup. Pulte is leading the way with a 4.6% advance.
    • Toll Brothers (TOL +3%), Hovnanian (HOV +3.9%), KB Home (KBH +3%), Lennar (LEN +3.1%), Taylor Morrison (TMHC +3.8%), D.R. Horton (DHI +2.7%)
    | Tue, Jun. 7, 2:31 PM | 1 Comment
  • Tue, May 24, 10:09 AM
    • April new home sales at a seasonally adjusted annualized rate of 619K were a full 16.6% above the upwardly revised March print, and 23.8% higher than year-ago levels. The number also flew past expectations for just a 2% rise to 523K.
    • Sales in the Northeast of 55K gained from 36K in March; Midwest of 60K down from 63K; South of 352K vs. 304K; West of 152K vs. 128K.
    • Full report
    • Tossing this bit of information in with strong FQ2 earnings from Toll Brothers (TOL +6.4%) has the homeowners (ITB +2.7%) surging well ahead of the market averages.
    • Hovnanian (HOV +4.9%), KB Home (KBH +3.8%), Beazer (BZH +5.4%), Lennar (LEN +3.2%), Pulte (PHM +3.1%), D.R. Horton (DHI +3.3%)
    | Tue, May 24, 10:09 AM | 39 Comments
  • Thu, Apr. 21, 9:45 AM
    • FQ2 net income of $195.1M or $0.52 per share up 32% from a year ago. Expectations were for $0.47.
    • Pretax profit margin of 10.9% up 130 basis points.
    • Net sales orders up 13% in value to $3.6B, and 10% in homes to 12,292.
    • Closings up 16% in value to $2.7B, and 12% in homes to 9,262.
    • Backlogs up 14% in value to $4.1B, and 12% in homes to 13,695.
    • Full-year pretax profit margin guidance boosted to 11.2% from 10.7%. Revenue guidance of $12B-$12.5B is reaffirmed.
    • The conference call begins at 10 ET.
    • Previously: D. R. Horton beats by $0.05, home sales revenue in-line (April 21)
    • DHI +2.5%
    | Thu, Apr. 21, 9:45 AM
  • Mon, Mar. 21, 11:47 AM
    • Existing home sales tumbled 7.1% in February to a seasonally-adjusted annualized pace of 5.08M. Expectations had been for just a mild slip to 5.31M from 5.47M previously.
    • The news is a good excuse to take profits in the homebuilders after a big run higher over the past six weeks.
    • ITB -1.05%, XHB -0.6%
    • Toll Brothers (TOL -1%), Hovnanian (HOV -1.9%), Lennar (LEN -1.1%), KB Home (KBH -1.5%), D.R. Horton (DHI -1%), PulteGroup (PHM -2.6%)
    | Mon, Mar. 21, 11:47 AM | 17 Comments
  • Wed, Feb. 24, 10:07 AM
    • New home sales at a seasonally-adjusted annualized rate of 494K in January were 9.2% lower than December and 5.2% above the level one year ago.
    • Most regions were fairly stable, with the exception of the West, where sales dropped to 110K from 162K.
    • The homebuilder ETFs - ITB, XHB - are down about 1.5%, inline with the broader market.
    • Individual names: Toll Brothers (TOL -2.5%), Hovnanian (HOV -1.4%), Lennar (LEN -2%), D.R. Horton (DHI -1.1%), Putle (PHM -1.5%), KB Home (KBH -2.1%)
    | Wed, Feb. 24, 10:07 AM | 2 Comments
  • Fri, Feb. 5, 9:57 AM
    • There's some extra volatility with staffing stocks after today's jobs report and with LinkedIn's tumble in the background.
    • Data has shown swings in the staffing sector are common after the NFP print.
    • Decliners include TrueBlue (NYSE:TBI) -6.7%, Monster Worldwide (NYSE:MWW) -3.0%, DHI Group (NYSE:DHI) -1.6%, and On Assignment (NYSE:ASGN) -1.1%.
    | Fri, Feb. 5, 9:57 AM | 1 Comment
  • Mon, Jan. 25, 11:50 AM
    • "Texas is in good shape," says D.R. Horton (DHI -3.5%) CEO David Auld, speaking on the earnings call (reported by Diana Olick). "We have a positive tone because we're seeing positive things out there in the market." Auld also takes note of DHI's cheaper "Express" brand, which he says is driving market share gains.
    • The stock is lower despite an earnings beat, with investors perhaps focusing on slowing price gains (sales orders up 9%, dollar amount up 12%).
    • Other names: Hovnanian (HOV -4.6%), Toll Brothers (TOL -3.4%), Lennar (LEN -3.4%), PulteGroup (PHM -3.1%), KB Home (KBH -3.8%).
    • ETFs: ITB, XHB
    | Mon, Jan. 25, 11:50 AM | 4 Comments
  • Dec. 16, 2015, 9:50 AM
    • The seasonally-adjusted annualized rate of housing starts in November of 1.173M was up 10.5% from October and 16.5% from a year ago. Single-family starts of 768K gained 7.6% from October.
    • Building permits of 1.289M gained 11% M/M and 19.5% Y/Y. SIngle-family permits of 723K gained just 1.1% from last month.
    • The South was a particular area of strength, with housing starts in that region of 615K up from 507K in October. SIngle-family starts there of 409K gained from 376K.
    • The major average are up modestly, but the ITB is ahead 1.5%, and XHB +1.25%.
    • Individual names: Toll Brothers (TOL +1.8%), Lennar (LEN +1.7%), Pulte (PHM +1.5%), KB Home (KBH +0.9%), D.R. Horton (DHI +1.6%), Hovnanian (HOV -1.8%)
    | Dec. 16, 2015, 9:50 AM | 7 Comments
  • Nov. 11, 2015, 12:31 PM
    • Yesterday's earnings beat and big move higher from D.R. Horton (NYSE:DHI) spread through the entire sector, and today is seeing plenty of follow-through, with DHI up another 3.2%.
    • Reporting on the UBS conference today, the WSJ's Kris Hudson says Toll Brothers CEO Doug Yearly sounds coy about the upcoming spring selling period, telling attendees he's not pessimistic, but doesn't yet see an impetus pointing to a great season.
    • Of supposed slowing of international buying on the West Coast: "We haven't yet personally seen any negative impact."
    • ITB +1.75%, XHB +0.9%
    • Hovnanian (HOV +5.6%), PulteGroup (PHM +1.3%), Lennar (LEN +2.3%), KB Home (KBH +2.5%), Beazer (BZH +5.9%)
    • Previously: More on D.R. Horton's FQ4 beat (Nov. 10)
    | Nov. 11, 2015, 12:31 PM | 10 Comments
  • Oct. 26, 2015, 10:11 AM
    • The pace of new home sales tumbled to a seasonally-adjusted annualized rate of 468K in September. That's down 11.5% from August's 529K (revised down from 552K), and just 2% above the level of a year ago. Analysts had expected a 550K pace in September.
    • The Northeast suffered an unusually large decline, with sales dropping to 13K from 34K ... must have been the weather. Sales in the Midwest fell to 55K from 60K; South to 274K from 300K; West to 126K from 135K.
    • Maybe a bigger issue are prices: The median price of 296.9K was 13.5% higher than a year ago.
    • The homebuilders aren't liking the news: Toll Brothers (TOL -2%), Lennar (LEN -1.6%), Hovnanian (HOV -1.8%), KB Home (KBH -2.2%), D.R. Horton (DHI -2.5%), PulteGroup (PHM -1.4%)
    • ITB -1.6%, XHB -0.7%
    • Full report
    • Previously: New Home Sales hits 10-month low at 468K (Oct. 26)
    | Oct. 26, 2015, 10:11 AM | 14 Comments
  • Oct. 22, 2015, 12:03 PM
    • The major averages are up 1.5%, and a strong existing home sales number this morning added to a beat in housing starts earlier this week, but the homebuilders are retreating.
    • At work are weaker-than-hoped reports from PulteGroup (PHM -6.4%) and M/I Homes (MHO -5.7%).
    • Pulte reported a decline in closings, with ASPs up just a hair vs. the 8% gain in sales prices a year ago. Home sales in Texas slumped 15%, and while net new orders for the company overall rose 8%, they fell 5% in that state.
    • KB Home (KBH -4.3%), Toll Brothers (TOL -1%), Lennar (LEN -0.6%), Hovnanian (HOV +1.6%), D.R. Horton (DHI -1.2%)
    • ETFs: ITB, XHB
    • Previously: Sale price gains slow down at Pulte (Oct. 22)
    • Previously: M/I Homes misses by $0.04, misses on revenue (Oct. 22)
    | Oct. 22, 2015, 12:03 PM | 3 Comments
  • Sep. 24, 2015, 10:15 AM
    • SIngle-family new home sales in August at a seasonally-adjusted annualized rate of 552K were up 5.7% from July (itself upwardly revised to 522K from 505K). August's pace was also up 21.6% from a year ago.
    • By region, Northeast sales of 36K rose from 29K, Midwest to 60K vs. 66K, South 319K from 297K, and West 137K vs. 130K.
    • Despite the strong August results, homebuilders remain lower alongside the broader market.
    • Leading the way lower is KB Home (KBH -3.4%) which reported an earnings beat this morning, but rising land costs did eat into profit margins.
    • ETFs: ITB, XHB
    • Toll Brothers (TOL -0.4%), PulteGroup (PHM -0.8%), Lennar (LEN -0.9%), D.R. Horton (DHI -0.8%), Standard Pacific (SPF -1.6%), Taylor Morrison (TMHC -1.5%).
    | Sep. 24, 2015, 10:15 AM | 3 Comments
  • Sep. 17, 2015, 3:49 PM
    • Outperforming alongside the big dividend payers are the homebuilders after the FOMC refrained from hiking rates today, but still all but promises tighter policy before the year is out. The big gains in homebuilders are in contrast to the S&P 500 which is flat.
    • The inaction has sparked a major rally in bonds across the curve, with the 10-year yield lower by ten basis points to 2.20% and the two-year yield down a full twelve basis points to 0.68%.
    • Earlier today, August housing starts disappointed, and July starts were revised sharply lower.
    • Previously: August housing starts disappoint; July revised sharply lower (Sept. 17)
    • Toll Brothers (TOL +1.2%), Lennar (LEN +1.5%), Hovnanian (HOV +6%), PulteGroup (PHM +1.1%), Ryland (RYL +2.1%), D.R. Horton (DHI +2%), KB Home (KBH +2%)
    • ETFs: ITB, XHB
    | Sep. 17, 2015, 3:49 PM | 4 Comments
  • Jul. 22, 2015, 10:36 AM
    • In the latest data point signaling the housing recovery has shifted into another gear, the NAR earlier reported a 3.2% gain in the seasonally adjusted annualized rate of existing home sales to 5.49M in June.
    • Sales are at their highest pace since February 2007 and are 9.6% above the pace of one year ago.
    • The median price of $236.4K is up 6.5% Y/Y and surpasses the peak set in July 2006.
    • ETFs: ITB +1.5%, XHB +1.5%
    • Toll Brothers (TOL +2%), Lennar (LEN +1.7%), KB Home (KBH +1.9%), Pulte (PHM +2.1%), D.R. Horton (DHI +2.1%), Hovnanian (HOV +0.9%), Ryland (RYL +3.1%)
    • Previously: Existing home sales rise to fastest pace in eight years (July 22)
    | Jul. 22, 2015, 10:36 AM | 17 Comments
Company Description
D.R. Horton, Inc. is a national homebuilder that is engaged in the construction and sale of single-family housing. It operates through homebuilding operating divisions and financial services operation. The company through its Financial Services operations provides mortgage financing and title... More
Industry: Residential Construction
Country: United States