For the third quarter the homebuilder reported earnings of 32 cents a share, missing the Capital IQ Consensus Estimates of 49 cents a share by 17 cents. Revenue grew 27.3% from the year-ago quarter to $2.1 billion, compared to analysts' estimates of $2.08 billion.
D.R. Horton said net sales increased 32% in value year-over-year to $2.4 billion and $25% in homes to 8,551. Closings were up 28% in value to $2.1 billion and 19% in homes to 7,676. Backlog was up 26% in value to $3.3 billion and 15% in homes to 11,365.
The company also announced a new quarterly dividend of 6.25 cents a share, a 67% increase from its previous dividend.
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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 some important positives, 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, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."