AllAnalyst Report
logoArgus•November 10, 2023

D.R. Horton, Inc.: Strong 20% dividend hike; raising target to $150

Symbols
DHI
Sector(s)
Consumer Cyclical
Rating
Current Price
$145.33
Price Target
Earnings Estimate
Summary

D.R. Horton, based in Fort Worth, Texas is one of the largest homebuilders in the U.S., with homebuilding revenue of $31.7 billion on 82,918 closings for the fiscal year ended September 30, 2023. To be sure, DHI may be number one based on deliveries while Lennar, whose average selling price is about $100,000 higher than DHI's, may have higher revenue in some years. The company offers homes in 108 markets in 33 states. About 99% of revenue is from single-family detached homes. The average home price was down about 1% to $381,000 in FY23. The company's financial services segment also provides mortgage financing and title agency services. DHI's Rental division generated $2.6 billion in 2023. The company's fisca

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Analyst Profile

Chris Graja, CFA

Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.