Barclays Reviews Q2 on D.R. Horton (DHI): Encouraged By Overall Strength, But Cutting Estimates on Lower Order

April 24, 2012 3:57 PM EDT
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Price: $28.31 +1.07%

Rating Summary:
    15 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Barclays reiterates an 'Overweight' on D.R. Horton (NYSE: DHI) price target of $22.00.

Analyst, Stephen Kim, said, "Overall we were very encouraged by the strength of DHI's results this quarter but we note that management commentary and guidance were more constrained than Lennar's (NYSE: LEN) was two weeks ago. The company guided for gross margins to be flat to down for the remainder of the year and was unwilling to commit to a range of community count growth. It noted it was not yet seeing broad opportunities to raise prices."

Barclays lowers FY12 EPS estimate from $0.74 to $0.64 and FY13 from $0.90 to $0.78.

For an analyst ratings summary and ratings history on D.R. Horton click here. For more ratings news on D.R. Horton click here.

Shares of D.R. Horton closed at $15.06 yesterday.

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