|Bid||0.00 x 21500|
|Ask||37.30 x 800|
|Day's Range||36.43 - 37.81|
|52 Week Range||32.53 - 53.32|
|Beta (3Y Monthly)||1.69|
|PE Ratio (TTM)||9.57|
|Earnings Date||Jan 29, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||0.60 (1.68%)|
|1y Target Est||43.62|
D.R. Horton (DHI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Arlington-based homebuilder D.R. Horton announced Tuesday its second acquisition in less than a month, purchasing Iowa-based Classic Builders. With the deal, D.R. Horton (NYSE: DHI) will receive 670 lots, 130 homes in inventory and 40 homes in sales order backlog, as well as roughly 550 lots through option contracts. D.R. Horton is slated to pay $60 million in cash for Classic, which will operate as a separate division of the North Texas company.
D.R. Horton, Inc. (DHI), America’s Builder, today announced the acquisition of Classic Builders (Classic), the largest homebuilder by volume in Des Moines, Iowa in calendar 2017 as reported by Builder magazine. D.R. Horton expects to pay approximately $60 million in cash for the purchase, and Classic will operate as a separate division within D.R. Horton. Donald R. Horton, Chairman of the Board, said, “We are pleased to have Classic Builders join the D.R. Horton family.
Toll's results are the latest evidence of slowing housing demand after years of steady recovery following the housing crash of 2007-2008. The housing market has been a weak spot in a robust U.S. economy, with economists blaming the sluggish trend on rising mortgage rates, which have combined with higher prices to make home purchase less affordable for potential buyers. Orders fell the most in California, Toll's biggest market by revenue, declining 39.4 percent to 226 units in the quarter, the company said.
Higher revenues and pricing help Toll Brothers (TOL) post better-than-expected earnings in the fiscal fourth quarter. Yet, rising input costs along with ongoing housing market headwinds pose risks.
added to growing concerns about the impact of higher mortgage rates and rising home prices on the US housing market by reporting its first drop in orders in four years and issuing home sales guidance that missed Wall Street estimates. Douglas Yearley, Toll’s chief executive, said that despite a healthy economy, the company saw demand moderate in its fourth quarter ended October 31. “In November, we saw the market soften further, which we attribute to the cumulative impact of rising interest rates and the effect on buyer sentiment of well-publicised reports of a housing slowdown.
THINGS TO KNOW This article first appeared on SumZero, the world’s largest research community of buyside investment professionals. In some cases Barron’s edits the research for brevity; professional investors can access the full version of this thesis and tens of thousands of others at SumZero.
Investing.com - The Dow soared Wednesday after Federal Reserve Chairman Jerome Powell said interest rates were close to neutral, easing fears that ongoing rate hikes will trigger an economic slowdown.
Value stocks are poised for a nice rebound on Wednesday thanks to positive headlines around a possible trade deal with China as well as some dovishness form Federal Reserve Board Chair Jerome Powell. Specifically, traders are looking for indications the Fed will halt its rate hike campaign in 2019 to allow the economy and financial markets to adjust to the steady tightening of credit since 2015. The disconnect can be seen in the way the futures market has only penciled in two further quarter-point hikes in 2019 while the Fed is looking for four.
Shares of home builders took a dive Wednesday, after data showing new home sales in October fell a lot more than expected. The iShares U.S. Home Construction ETF shed 2.2% in morning trade, with 44 of it 47 equity components trading lower. Among the more active home builders, shares of PulteGroup Inc. fell 3.5%, D.R. Horton Inc. dropped 2.1%, Toll Brothers Inc. gave up 3.5%, Lennar Corp. slid 2.8% and KB Home declined 3.2%. New-home sales fell 8.9% month-to-month to a seasonally adjusted annual rate of 544,000 in October, below expectations of about 589,000, while the median sales price fell 3.1% to $309,700. Earlier, real estate marketplace Zillow Group Inc. said it expected the home-buying market to continue to slow in 2019, as rising interest rates reduces affordability. The home construction ETF has has tumbled 18% over the past three months, while the S&P 500 has declined 7.2%.
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Lack of competition in the luxury new home market and robust backlog are likely to boost Toll Brothers' (TOL) fiscal Q4 results. However, rising input costs are likely to compress its margins.
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The operating backdrop remains tough for homebuilders given rising mortgage rates, higher construction costs, shortage of skilled labor and a dearth of buildable lots.
A gauge of home builder sentiment fell off a cliff in November as a litany of industry headwinds - expensive labor, scarce lots, higher mortgage rates - finally caught up.