Still, putting to the side the impairment aspect of the earnings, results for revenue-versus-consensus and profit margins-versus-consensus were basically in line with expectations, and order volumes were actually much stronger than anticipated.
Credit Suisse (CS) analysts noted in a research piece today that the order volume increase of 26% smashed its estimate of negative 2%. Still, Credit Suisse has the stock at Underperform with a target of $7.50. Stifel Nicolaus has its target at $9.2. After its 15% tumble today to $10.44, Widner noted D.R. has moved in much closer range of the Stifel Nicolaus target.
If Friday, in fact, represented one of the worst days in homebuilder recent history, maybe it is a date to remember. "D.R. Horton was non-committal on just about everything but saying that the worst was behind them," Widner noted.
Or maybe more accurately, the worst would be behind them by the end of trading Friday.As for the actual sector winners at week-end, NVR (NVR), the largest market cap company in the sector, was the only stock trading up on late-afternoon Friday, with an increase of 2% to $670. -- Reported by Eric Rosenbaum in New York Follow TheStreet.com on Twitter and become a fan on Facebook.
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