D.R. Horton, IncNYSE: DHI
Consumer Discretionary · Homebuilding
$141.81
-1.60%
Vol: 524K
Research Digest
Friday, June 19, 2026
D.R. Horton acquired a $17M Miami-Dade development site and drew a Citi price-target raise as it heads toward July 21 Q3 results.
D.R. Horton purchased a Miami-Dade development site for $17 million, reported within the last day, as the largest U.S. homebuilder continues to add land in high-demand Sunbelt markets. Citi analyst Anthony Pettinari raised his price target to $173 from $162 while keeping a Neutral rating, reflecting cautious optimism amid elevated mortgage rates. The stock recently traded around $154 and has returned roughly 20% over the past year. The company's prior Q2 2026 results showed EPS of $2.24 (beating the $2.14 estimate) and revenue of $7.6 billion, with net sales orders up 11% to 24,992 homes. The key risk is management's guidance for elevated sales incentives pressuring near-term margins. D.R. Horton will report fiscal Q3 results (quarter ended June 30) on July 21, 2026.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21D.R. Horton holds Q3 2026 earnings call as DHI Mortgage expands repurchase facility to $1.93BNegative▶
D.R. Horton held its Q3 2026 earnings call on May 19, 2026, and filed an 8-K on May 12. DHI Mortgage expanded its repurchase facility to US$1.93 billion through 2029. Analysts forecast a 15.5% EPS decline as the stock dropped 14.47% over the past month amid concerns about backlog and profitability against rising bond yields and housing market volatility. D.R. Horton went ex-dividend May 7 with $0.45 per share.
May 20No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 19No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 15D.R. Horton draws Goldman PT hike to $190 and BTIG to $188 after fiscal Q2 EPS of $2.24 and 11% new orders growth; DHI Mortgage expands repo facility to $1.93B.Mixed▶
D.R. Horton reported fiscal Q2 2026 net income of $647.9M, or $2.24 EPS, with new orders up 11% YoY matching community count expansion. CEO Paul Romanowski highlighted on the April 21 call that unsold homes are down 25% from December and 35% YoY, reflecting bigger incentives and slowed starts. DHI Mortgage expanded its repurchase facility to $1.93B through 2029, enhancing funding flexibility without adding direct guarantees from the main operating entities. Goldman Sachs raised PT to $190 from $172 (Buy), BTIG to $188 from $182 (Buy), Citi to $173 from $162 (Neutral). 14-analyst consensus Hold, PT $166.08 (~14% upside). Risk: rising costs, declining revenue, and affordability pressure continue to weigh; FY EPS still expected to decline ~15.5%.
May 14D.R. Horton's DHI Mortgage subsidiary expanded its repurchase facility to $1.93B through 2029 effective May 6, with multiple analysts raising price targets after a fiscal Q2 EPS beat ($2.24 vs $2.13).Positive▶
D.R. Horton reported fiscal Q2 2026 EPS of $2.24, beating $2.13 estimates, with revenue of $7.56B slightly exceeding forecasts; shares surged 8.2% to $165.92. Net sales orders rose 11% YoY to 24,992 homes, matching 11% growth in active selling communities. Pre-tax profit margin held at 11.5% even as the average home price fell 3% to $361,600. Cancellation rates were steady at 16% and total order value hit $9.2B. Effective May 6, DHI Mortgage entered a Fifth Amendment expanding its master repurchase facility with U.S. Bank to $1.93B through 2029, enhancing funding flexibility without parent guarantees. Analyst reactions: Truist Securities raised PT to $150 (Hold), Evercore ISI raised PT to $171, and BofA Securities raised PT to $173. Q3 EPS guided to $2.77 and Q4 to $3.07.
May 13D.R. Horton subsidiary DHI Mortgage amended its $1.925 billion repurchase facility effective May 6 as analysts adjust targets post-Q2Mixed▶
D.R. Horton's wholly owned subsidiary DHI Mortgage Company entered into a Fifth Amendment to its Master Repurchase Agreement with U.S. Bank, effective May 6, 2026, extending the maturity of the $1.925 billion facility. Following fiscal Q2 2026 results showing 11% growth in new orders but falling revenue and net income, multiple analysts adjusted price targets. The company reported Q2 EPS of $2.24 versus expectations of $2.13, with revenue of $7.56B narrowly above forecasts. Affordability concerns and economic uncertainty continue to weigh on demand, forcing elevated buyer incentives. The stock went ex-dividend on May 7 with a $0.45 per share dividend.
May 12D.R. Horton Q2 FY26 EPS beats at $2.24 with 11% new order growth, but profit falls on affordability headwinds; Truist raises PT to $150Mixed▶
D.R. Horton fiscal Q2 2026 EPS of $2.24 beat estimates of $2.13 with revenue of $7.56B slightly ahead. Net sales orders rose 11% YoY to 24,992 homes (order value $9.2B). Pre-tax margin held at 11.5% but average home price fell 3% to $361,600 as the homebuilder increased buyer incentives amid affordability headwinds. Active selling communities up 11%; cancellation rate 16%. Updated FY26 revenue guidance to $33.5B-$34.5B; $0.45/share dividend declared. Completed $3.29B repurchase program (7.77% of shares). Truist raised PT to $150 from $140 (Hold). Stock trading ~$145.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| DHIDR | $141.81 | -1.60% | +3.5% | 12.3x | 1.37 | $40.3B |
| PHMPULTEGROUP | $119.90 | -1.96% | +2.8% | 11.0x | 1.20 | $23.3B |
| LENLENNAR | $82.11 | -1.15% | +6.4% | 15.4x | 1.40 | $20.0B |
| NVRNVR | $6,256.24 | -1.30% | +2.4% | 15.8x | 0.91 | $17.0B |
| AMZNAMAZON.COM | $249.88 | -2.00% | -1.3% | 24.5x | 1.44 | $2.75T |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.