D.R. Horton (NYSE:DHI) Profit Soars to Six Year High; Profit Doubles – DHI, TMHC, CHCI, MDC

The Fort Worth, Texas-based D.R. Horton, Inc (NYSE:DHI) stock hiked to record high in 6 years after announcing fiscal Q2 profit over doubled as higher demand and prices support a housing-construction recovery.

D.R. Horton, the biggest United States homebuilder by volume, announced in a statement on Friday that net income was $111 million or 32 cents per share for the three months finished March 31, high from $40.6 million or 13 cents per share in previous year. Bloomberg gathered data confirms 18 analysts expect 19 cents per share.

Shares of the company hiked 8.7% to settle at $26.66 in New York, marked the record high price since February 2007.

Shares of the company surged 35% current year, evaluated against 18% boost for the 11-member Standard & Poor’s Supercomposite Homebuilding Index.

Homebuilding revenue of company surged to $1.39 billion from $935.6 million in previous year.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Taylor Morrison Home Corp (NYSE:TMHC) up +3.44% to settle at $25.55, Comstock Holding Companies Inc (NASDAQ:CHCI) moved down -2.01% to end at $3.31 while M.D.C. Holdings, Inc. (NYSE:MDC) jumped +3.13% to finish at $38.18 on Friday.

D.R. Horton, Inc. (NYSE:DHI) on April 26, 2013 increased +8.68% to the closing price of $26.66. The overall volume in the last trading session was 15.53 million shares. Its fifty two weeks range was $14.37 – $26.92. The total market capitalization remained at $8.57 billion.

DHI is ahead of its 52-week low with +87.80% and going forward from its 52-week high price with +4.30%. DHI’s last month’s stock price volatility remained 3.57%. In its share capital DHI has 321.33 million outstanding shares, among them 281.08 million shares have been floated in market exchange. DHI’s stock’s institutional ownership remained 90.73% while insider ownership included 8.84%.

The stock price of DHI is moving forward from its 20 days moving average with +15.56% and remote positively from 50 days moving average with +14.00%. DHI’s current year’s earnings per share experienced an addition with +1127.12% while its current quarter performance remained at +22.52%. Company’s beta coefficient included 1.27. Beta factors measure the amount of market risk associated with market trade.

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