Stock Alert: D R Horton Climbs 8% On Upbeat Q2 Results

(RTTNews) - Shares of D R Horton Inc. (DHI) are rising more than 8 percent or $3.44 in Tuesday's morning trade at $45.56 after the home builder's results for the second quarter beat analysts' estimates. The stock has traded in a range of $25.51 to $62.54 in the past 52 weeks.

Tuesday, D R Horton reported second-quarter earnings of $482.7 million or $1.30 per share, up from $351.3 million or $0.93 per share in the year-ago quarter. On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.12 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter rose 9.0 percent to $4.50 billion from $4.13 billion in the same period last year. Analysts had a consensus revenue estimate of $4.42 billion.

Net sales orders for the quarter increased 20 percent to 20,087 homes and 22 percent in value to $6.0 billion, compared to 16,805 homes and $4.9 billion in the same quarter of the prior year.

Subsequent to quarter-end, DR Horton declared a quarterly cash dividend of $0.175 per common share, payable on May 21, 2020 to stockholders of record on May 11, 2020.

The company added that as previously announced, it has withdrawn its fiscal 2020 guidance due to the current uncertainty resulting from COVID-19.