By late morning, shares had climbed 7.7% to $22.99.
Over the three months to March, the homebuilding company reported net income of 38 cents a share, 4 cents higher than analysts surveyed by Thomson Reuters forecast.
Revenue climbed 22.3% year over year to $1.7 billion, beating estimates by $134 million.
TheStreet Ratings team rates D R HORTON INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate D R HORTON INC (DHI) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, attractive valuation levels, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
- You can view the full analysis from the report here: DHI Ratings Report