D.R. Horton Inc., a leading home construction company, has reached an all-time high, with its stock price soaring to $193.66. This milestone underscores the company's robust performance in a competitive market, reflecting a significant investor confidence. Over the past year, D.R. Horton has witnessed an impressive 67.71% increase in its stock value, outpacing many of its industry peers and signaling strong operational success and growth prospects. This remarkable 1-year change has solidified D.R. Horton's position as a heavyweight in the home construction sector, with market trends and economic factors contributing to its upward trajectory.
In other recent news, D.R. Horton, Inc., a leading home construction company, has announced several significant financial developments. The company's third fiscal quarter earnings per share (EPS) of $4.10 exceeded projections, attributed to increased homebuilding gross margin and average selling price, along with improved rental pre-tax income.
D.R. Horton has also finalized the sale of $700 million in senior unsecured notes with a 5% interest rate, due in 2034. This sale, guaranteed by most of the company's homebuilding subsidiaries, will pay interest semi-annually starting April 15, 2025.
Simultaneously, D.R. Horton has amended its existing master repurchase agreement through its wholly-owned subsidiary, DHI Mortgage Company, Ltd. This amendment extends the facility until May 9, 2025, providing continued financing for its mortgage operations.
The company has also initiated a new share repurchase program worth up to $4 billion, indicating its strong financial health and business confidence. Jefferies, a financial services company, has maintained a Buy rating on D.R. Horton, adjusting its EPS forecasts based on these recent developments. These represent the latest endeavors of D.R. Horton to maintain its robust financial standing and growth trajectory.
InvestingPro Insights
D.R. Horton Inc. (DHI) has not only reached a new high in its stock price but also exhibits strong financial health and market performance according to recent InvestingPro Data. The company's market capitalization stands robust at $62.78B, reflecting its significant presence in the industry. With a Price/Earnings (P/E) ratio of 12.58 and an adjusted P/E for the last twelve months as of Q3 2024 at 12.25, D.R. Horton trades at a valuation that suggests investors are confident in its earnings potential. Moreover, the company's revenue growth of 7.82% over the last twelve months indicates a steady expansion in its business operations.
InvestingPro Tips highlight D.R. Horton's decade-long commitment to raising its dividend, a testament to its financial stability and a key consideration for income-focused investors. The company has maintained dividend payments for 11 consecutive years, with a notable dividend growth of 20.0% in the last twelve months as of Q3 2024. Additionally, D.R. Horton's stock price is trading near its 52-week high, currently at 99.26% of that peak, demonstrating the market's bullish sentiment towards the company. These factors, coupled with a strong return over the last year of 67.19%, paint a picture of a company that is not only growing but also rewarding its shareholders.
For readers interested in more in-depth analysis, there are over 10 additional InvestingPro Tips available, which provide further insights into D.R. Horton's performance and future outlook. These tips can be accessed through InvestingPro's platform and may offer valuable guidance for potential investors.
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