Why Builder D.R. Horton Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
D.R. Horton, Inc. (NYSE:DHI) shares surged after reporting Q2 FY24 financial results that exceeded expectations, with sales growing 14% Y/Y to $9.1 billion and EPS at $3.52, surpassing the consensus. The company also raised its FY24 revenue and homes closed outlook, announced a quarterly dividend, and detailed its share repurchase activities. Investors can also gain exposure through IShares U.S. Home Construction ETF (BATS:ITB) and Invesco Building & Construction ETF (NYSE:PKB).
April 18, 2024 | 2:07 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
D.R. Horton reported strong Q2 FY24 results with sales and EPS exceeding expectations, raised FY24 guidance, and announced a dividend and share repurchases.
The positive earnings report and raised guidance indicate strong operational performance and future confidence, likely leading to a short-term positive impact on DHI's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to D.R. Horton's performance through the IShares U.S. Home Construction ETF (ITB), which includes DHI in its holdings.
As D.R. Horton is a significant component of ITB, its strong performance and positive outlook may contribute to a favorable impact on ITB's value in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
POSITIVE IMPACT
Invesco Building & Construction ETF (PKB) offers another avenue for investors to benefit from D.R. Horton's positive financial results and outlook.
Given D.R. Horton's inclusion in PKB's portfolio, the company's strong quarterly performance and optimistic guidance are likely to positively influence PKB's short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75