D.R. Horton (DHI) Stock Slides After Posting Q2 Results

D.R. Horton (DHI) stock is down in pre-market trading Thursday after the homebuilder reported in-line earnings, but slightly weaker-than-expected revenue for the 2016 fiscal third quarter.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of D.R. Horton (DHI) - Get Report are declining 1.48% to $33.90 in pre-market trading Thursday after the homebuilder posted in-line earnings per share, but slightly lower-than-expected revenue for the 2016 fiscal third quarter.

Before today's market open, the Fort Worth-based company reported earnings of 66 cents per share, which matched analysts' forecasts.

Revenue for the quarter was $3.23 billion, while analysts were expecting $3.25 billion.

New orders rose 13% to 11,714 homes during the period.

"With a sales backlog of 14,670 homes at the end of June and a robust lot supply and inventory of homes available for sale, we are well-positioned for the fourth quarter and fiscal 2017," Chairman Donald Horton said in a statement.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on the stock.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and attractive valuation levels.

The team believes its strengths outweigh the fact that the company shows low profit margins.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: DHI

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