D.R. Horton Stock (NYSE:DHI), Trade Ideas

D.R. Horton

D.R. Horton is a leading homebuilder in the United States with operations in 118 markets across 33 states. D.R. Horton mainly builds single-family detached homes (over 90% of home sales revenue) and offers products to entry-level, move-up, luxury buyers, and active adults. The company offers homebuyers mortgage financing and title agency services through its financial services segment. D.R. Horton's headquarters are in Arlington, Texas, and it manages six regional segments across the United States.

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California&#39;s $250 Million &#39;Dream For All&#39; Program Shells Out $150K In First-Time Homebuyer Funds Despite State&#39;s $73 Billion Deficit

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Stocks surged as weak economic data raised hopes for Fed rate cut. S&amp;P 500 up 1.2%, Nasdaq 100 up 1.5%, Dow Jones up 0.6%. Spotify shares jump 17% on earnings.

Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What&#39;s Driving Markets Tuesday?

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The mood on Wall Street turned tentative on Tuesday as investors awaited earnings reports from the “Magnificent 7,” companies that fueled much of the market’s upside since 2023. Index futures rose slightly in early trading. Asian markets closed mostly higher, while European markets started on a firmer footing. Commodities pulled back, and bond yields held steady.

Wall Street Set To Open Higher As Tesla Kicks Off &#39;Magnificent 7&#39; Earnings: Why This Analyst Thinks Market Weakness Is A &#39;Healthy Pullback&#39;

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With the median single-family home in California selling for nearly $860,000 in 2023 — more than double the national median — prospective first-time homebuyers are having a tough time breaking into the state's expensive real estate market.
Mortgage rates topping 7%, combined with persistent inflation pushing off expected Federal Reserve rate cuts, make affordability even more challenging.&nbsp;
California allocated $250 million to relaunch its Dream for All program, which seeks to make housing more equitable for first-time homebuyers.
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Dream for All is run by the California Housing Finance Agency, with the agency using a lottery system to give between 1,700 and 2,000 prospective first-time buyers up to $150,000 to purchase homes.
The catch is that the money is a loan that must be paid back along with a share of the home's price appreciation when it's sold if there is any.
"When they repay this, this is going back into the program, and it&#8217;s going to allow someone else to take advantage," California real estate agent Sarah Moore said.
In addition to homebuyers being potential beneficiaries of the program, it could also provide a runway for homebuilders who need to keep adding supply to fill the nation's demand for affordable housing units.
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Homebuilders such as Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) and D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) have seen their shares soar around 52% and 54%, respectively, over the past year as the nation deals with a housing shortage.
While the Dream for All program provides loans, it comes at a time when California continues to run a massive budget deficit.
The nonpartisan Legislative Analyst's Office in February updated its estimate of California's deficit to as high as $73 billion.
Whether the government's intervention in an unaffordable housing market for most prospective first-time homebuyers in California proves effective in the long term remains to be seen, but for the winners of the lottery, it might end up being their only choice to afford to own property in the high-cost state.
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California's $250 Million 'Dream For All' Program Shells Out $150K In First-Time Homebuyer Funds Despite State's $73 Billion Deficit

Stocks surged across the board on Tuesday, gaining momentum after Monday&#8217;s rebound as unexpectedly weak economic data bolstered hopes for a potential Federal Reserve rate cut <a href="https://www.benzinga.com/federal-reserve">by the end of the summer</a>.
What Happened: The S&amp;P Global&#8217;s Purchasing Managers&#8217; Index (PMI) for April indicated a significant deceleration in private sector growth—the slowest in four months—also highlighting reduced inflationary pressures <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon">from wages and services.</a>
Market-implied probabilities for a rate cut by the Fed as early as September jumped to 72%, up from 67% on Monday, according to CME Group&#8217;s FedWatch Tool. 
Meanwhile, corporate earnings have generally exceeded expectations, with investors now eagerly anticipating results from Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), slated for release after market close.
By midday trading in New York, the S&amp;P 500 climbed 1.2%, setting the stage for its best performance in over a month. The Nasdaq 100 outperformed the broader market, up 1.5%, while the Dow Jones Industrial Average saw a more modest increase of 0.6%.
The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) outperformed its large-cap counterparts, jumping 1.7% and marking its most significant gain since late March.
The dollar declined by 0.4%, and Treasury yields slightly fell. In the commodities market, gold remained steady following its sharpest drop in years on Monday, while oil prices inched 1% higher. Bitcoin edged down slightly by 0.3% to $66,640.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,002.50</td>
<td>1.7%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,463.15</td>
<td>1.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,068.20</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,468.74</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:37 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $505.50, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $384.94 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.5% to $425.11, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.8%. The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) was the major laggard, down 0.5%. 
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) saw its shares surge 17% following a robust earnings beat, setting the stock on course for its best single-day performance since its 2018 IPO.</li>
<li>Other companies reacting to recent earnings were Globe Life Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>), up 13%, GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>),up 7.3%, Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), up 7.3%, General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), up 5%, Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), up nearly 3%, PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), down 2.2%, United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), up 2%, Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), down 11%, MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>), down 14%, LKQ Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>), down 14%, Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>), flat, and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), up 0.5%, </li>
<li>Notable names reporting after the close other than Tesla Inc. and Visa, Inc. are Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>).</li>
</ul>
Now Read: <a href="https://www.benzinga.com/markets/asia/24/04/38380008/us-mulls-sanctions-on-beijing-banks-for-alleged-role-in-putins-war-in-ukraine-china-cant-have-it-bot">US Mulls Sanctions On Beijing Banks For Alleged Role In Putin&#8217;s War In Ukraine: &#8216;China Can&#8217;t Have It Both Ways,&#8217; Blinken Says</a>

Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What's Driving Markets Tuesday?

WIIM

Shares of homebuilder stocks are trading higher following strong earnings from PulteGroup and better-than-expected new home sales data.

The mood on Wall Street turned tentative on Tuesday as investors awaited earnings reports from the &#8220;Magnificent 7,&#8221; companies that fueled much of the market&#8217;s upside since 2023. Index futures rose slightly in early trading. Asian markets closed mostly higher, while European markets started on a firmer footing. Commodities pulled back, and bond yields held steady.
Earnings from several high-profile names could provide direction. Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares rose modestly from their recent lows, ahead of the company&#8217;s earnings due after the close. A positive earnings surprise or optimistic commentary could lift the stock and potentially the broader market.
 Futures Performance On Tuesday ( as of 6:20 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.29%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.24%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.19%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.12%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Tuesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.21% to $500.75,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.30% to $420.07, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Session:
U.S. stocks snapped a six-session losing streak on Monday as bond yields eased and financial and technology stocks rallied. Positive earnings from some regional banks improved sentiment toward the space and the broader financial sector per se. 
After a positive start, the indices trimmed their gains and bottomed in late-morning trading. They launched into a rally but ended off the highs of the session.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.11%</td>
<td>15,451.31</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.87%</td>
<td>5,010.60</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.67%</td>
<td>38,239.98</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.02%</td>
<td>1,967.47</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Earnings could be the week&#8217;s key catalyst along with Friday&#8217;s inflation data, said fund manager Louis Navellier in a note to clients. &#8220;This&nbsp;is a huge week of earnings&nbsp;with companies worth $17 trillion reporting, including distressed Tesla,&#8221; he said.
&#8220;Investors are understandably cautious going into the big earnings this week.&nbsp;If things turn out well we should see a strong buying of the dip,&#8221; he added.
Wharton Professor Jeremy Siegel, Senior Economist to WisdomTree, said in his weekly commentary the recent market pullback could be a healthy correction. &#8220;The near-term inflation outlook appears to be under control, with a trend towards moderation and the recent pullback from the highs leading to a healthy correction for the market,&#8221; he said.
&#8220;Despite the tech downturn, value has still greatly underperformed growth since the COVID-19 pandemic. Notwithstanding, I regard the resulting weakness as a healthy pullback, and expect the market to move to new highs.&#8221;
Upcoming Economic Data:
S&amp;P Global is set to release its flash services and manufacturing purchasing managers&#8217; indices for April at 9:45 a.m. EDT. The manufacturing PMI is expected to tick up from March&#8217;s 51.9 to 52, and the services PMI may also have improved from 51.7 to 52.
The Commerce Department will release the new home sales report for March at 10 a.m. EDT. Economists, on average, expect new home sales to come in at a seasonally adjusted annual rate of 669,000 units, up from a 662,000-unit rate in February.
The Treasury will auction two-year notes at 1 p.m. EDT.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus: 
<ul>
<li> Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) fell over 6% <a href="https://www.benzinga.com/premarket">in the premarket</a> following its earnings release. Other stocks reacting to earnings reported Monday after the close include Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) (down over 4%), and Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) (down over 5%).</li>
<li>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) are among the<a href="https://www.benzinga.com/calendars/earnings"> companies due to report before the market open.</a></li>
<li>Notable names reporting after the close are isa, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Tesla, Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures reversed course and fell about 1% on Monday, trading at a little over $82 a barrel, and gold futures also saw weakness and fetched around $2,300 an ounce. 
The 10-year note yield remained unchanged at 4.623%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained modestly, with the apex crypto trading above the $66,000 level.
Most Asian markets advanced on Tuesday, led by the Hong Kong, Singaporean and Taiwanese markets, while the Chinese, Indonesian and South Korean markets closed modestly to moderately lower. The positive lead from Wall Street overnight generated positive sentiment in the region, ahead of the tech earnings reports. 
European stocks were firmer for a second straight session, with the Euro STOXX 50 Index up about 0.72% in early trading. The U.K.&#8217;s FTSE 100 Index rose for a fifth straight session. Business activity readings from the region came in mostly above expectations.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38374423/elon-musk-reacts-as-ark-invest-analyst-says-its-going-to-be-very-hard-for-tesla-rivals-to-catch-" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As ARK Invest Analyst Says &#8216;It&#8217;s Going To Be Very Hard&#8217; For Tesla Rivals &#8216;To Catch Up To Them&#8217; In Pricing</a>
Image Via Shutterstock

Wall Street Set To Open Higher As Tesla Kicks Off 'Magnificent 7' Earnings: Why This Analyst Thinks Market Weakness Is A 'Healthy Pullback'

U.S. stocks closed mixed on Friday, with the S&amp;P 500 falling for a sixth straight session. The index fell over 3% last week to record its worst weekly performance since March 2023. However, the Dow Jones index edged higher by 0.01% for the week.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#8217;s opinion to trust.
Benzinga&#8217;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. One of the ways traders can sort through Benzinga&#8217;s extensive database of analyst ratings is by analyst accuracy. Here&#8217;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock</a> Ratings.
Analyst: Jay McCanless
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Reiterated an Underperform rating on  &lt;b> D.R. Horton, Inc.&lt;/b> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a price target of $130 on April 18, 2024. This analyst sees around 9% downside in the stock.</li>
<li>Recent News: On April 18, D.R. Horton reported better-than-expected second-quarter financial results.</li>
</ul>
Analyst: Reuben Garner
<ul>
<li>Analyst Firm: Benchmark</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Initiated coverage on Beacon Roofing Supply, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Buy rating and a price target of $135 on April 18, 2024. This analyst sees around 43% upside in the stock.</li>
<li>Recent News: Beacon said it will release earnings results for the quarter ended March 31, 2024 after the closing bell on May 2, 2024.</li>
</ul>
Analyst: Matt Bryson
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Reiterated an Outperform rating on Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) with a price target of $200 on April 17, 2024. This analyst sees over 37% upside in the stock.</li>
<li>Recent News: AMD recently announced the new AMD Ryzen PRO 8040 Series with x86 processors built for business laptops and mobile workstations, and the AMD Ryzen PRO 8000 Series desktop processor, the first AI-enabled desktop processor for business users constructed with the advanced 4-nanometer technology.</li>
</ul>
Analyst: Aaron Rakers
<ul>
<li>Analyst Firm: Wells Fargo</li>
<li>Ratings Accuracy: 84%</li>
<li>Latest Rating: Maintained an Equal-Weight rating on Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and boosted the price target from $17 to $19 on April 17, 2024. This analyst sees about 14% gain in the stock.</li>
<li>Recent News: On Feb. 29, Hewlett Packard Enterprise reported worse-than-expected first-quarter revenue results and issued FY24 EPS guidance below estimates.</li>
</ul>
Analyst: Robert Mason
<ul>
<li>Analyst Firm: Baird</li>
<li>Ratings Accuracy: 84%</li>
<li>Latest Rating: Maintained an Outperform rating on Atmus Filtration Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATMU#NYSE">ATMU</a>) and increased the price target from $29 to $37 on April 17, 2024. This analyst sees more than 20% upside in the stock.</li>
<li>Recent News: Atmus Filtration Technologies said it will report financial results for the first quarter 2024 before the opening bell on May 3, 2024.</li>
</ul>
Read More: <a href="http://AVI kapoor benzinga">Albertsons Companies, Nucor And 3 Stocks To Watch Heading Into Monday</a>

Price Target

ATMU

BECN

This Analyst With 85% Accuracy Rate Sees More Than 37% Upside In AMD - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

As the <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">market runs into rough weather,</a> the importance of the upcoming week&#8217;s earnings cannot be emphasized enough. A lot is riding on the earnings reports of companies like Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (GOOG).
The Season So Far: The percentage of S&amp;P 500 companies that have reported positive earning surprises and the magnitude of earnings surprises are at or above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-19-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-19-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril192024">said</a> FactSet in its report released Friday. That said, substantial downward revisions to earnings per share (EPS) estimates of two healthcare companies have led to a decline in earnings growth over the past two weeks.
The combined earnings per share growth rate of S&amp;P 500 companies, considering both the already reported actual results and the estimates for those yet to report, is at 0.5%, according to FactSet. The metric, however, fell from the 0.9% estimated previous week and the 3.4% estimated at the end of the first quarter. Earnings growth for the quarter may extend the positive growth streak to three quarters.
So far, 14% of the S&amp;P 500 companies have reported March quarter results. 
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks To Buy Right Now</a>
Look Ahead: The upcoming week will likely feature earnings releases from 158 S&amp;P 500 companies, including 11 Dow 30 components. With the bank earnings tapering off, the spotlight shifts to tech companies, as they begin to roll out their quarterly scorecard this week.
Apart from some big techs, which are part of the group called the &#8220;Magnificent Seven,&#8221; homebuilders, defense contractors, airlines and transportation companies are also due to release their quarterly reports. 
All eyes are focused on Tesla as analysts expect a downbeat report from the company. Analysts see the scope of a further contraction in margin and potentially a double miss yet again in the first quarter.
AI stalwarts Microsoft, Alphabet and Meta are widely expected to report strong results. Following the recent tech-led sell-off, Wedbush analyst Daniel Ives said, &#8220;We believe 1Q earnings will be a major positive catalyst for the tech sector and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38252477/why-microsoft-alphabet-amazon-palantir-and-meta-could-rise-15-in-2024-according-to-">expect tech stocks to be up another 15% for the year</a> adding to the strong start to 2024.&#8221;
The earnings schedule of key names are as follows:
Monday 
<ul>
<li>Before the bell: Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>)</li>
<li>After the close: Ameriprise Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) and SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</li>
<li>After the close: Visa, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Tesla, Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>)</li>
</ul>
Wednesday 
<ul>
<li>Before the bell: Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>), Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), Hasbro, Inc. (NASDA: HAS), General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), Biogen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) and AT&amp;T Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>After the close: Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>), Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>), Meta Platforms, Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>)</li>
<li>After the close: Alphabet, Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft, Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>), Autoliv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>), AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>), Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session down 0.87% at $495.16, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech companies, has lost 7.72% from its all-time intraday high of $449.34 (March 21).
Read Next: <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">Nvidia In Correction Territory — Did AI-Led Tech Stock Bubble Just Burst? This Data Point Offers A Clue.</a>
Photo: Shutterstock

Analyst Color

ABBV

BIIB

CHTR

CMCSA

GILD

GOOGL

INTC

JNPR

KLAC

LRCX

MBLY

MSFT

NDAQ

ODFL

ORLY

ROKU

TDOC

TMUS

ZION

Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week

D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) has outperformed the market over the past 10 years by 9.75% on an annualized basis producing an average annual return of 19.96%. Currently, D.R. Horton has a market capitalization of $47.12 billion. 
Buying $100 In DHI: If an investor had bought $100 of DHI stock 10 years ago, it would be worth $668.34 today based on a price of $142.70 for DHI at the time of writing.
<h3>D.R. Horton's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713551492_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In D.R. Horton 10 Years Ago Would Be Worth This Much Today

BTIG analyst Carl Reichardt maintains D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a Buy and lowers the price target from $169 to $168.

Analyst Ratings

BTIG Maintains Buy on D.R. Horton, Lowers Price Target to $168

B of A Securities analyst Rafe Jadrosich maintains D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a Buy and lowers the price target from $182 to $168.

B of A Securities Maintains Buy on D.R. Horton, Lowers Price Target to $168

RBC Capital analyst Mike Dahl maintains D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a Underperform and lowers the price target from $142 to $141.

RBC Capital Maintains Underperform on D.R. Horton, Lowers Price Target to $141

Jefferies analyst Collin Verron maintains D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a Hold and raises the price target from $141 to $153.

Jefferies Maintains Hold on D.R. Horton, Raises Price Target to $153

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
<ul>
<li>Wells Fargo cut the price target for Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) from $11 to $6. Wells Fargo analyst Praneeth Satish downgraded the stock from Overweight to Equal-Weight. Sunnova Energy shares fell 3.6% to close at $3.78 on Wednesday. See how other analysts view this stock.</li>
<li>UBS boosted the price target for D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) from $192 to $200. UBS analyst John Lovallo maintained a Buy rating. D.R. Horton shares rose 0.1% to close at $145.88 on Thursday. See how other analysts view this stock.</li>
<li>UBS increased Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) price target from $113 to $141. UBS analyst David Vogt maintained a Buy rating. Dell shares fell 1% to close at $118.37 on Thursday. See how other analysts view this stock.</li>
<li>Pivotal Research boosted the price target for Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) from $765 to $800. Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating. Netflix shares fell 0.5% to close at $610.56 on Thursday. See how other analysts view this stock.</li>
<li>Baird increased Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) price target from $95 to $98. Baird analyst David Koning maintained an Outperform rating. Block shares fell 2% to close at $72.06 on Thursday. See how other analysts view this stock.</li>
<li>JMP Securities boosted Red Rock Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRR#NASDAQ">RRR</a>) price target from $61 to $66. JMP Securities analyst Jordan Bender maintained a Market Outperform rating. Red Rock Resorts shares fell 1.4% to close at $57.86 on Thursday. See how other analysts view this stock.</li>
<li>Morgan Stanley raised the price target for Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) from $74 to $85. Morgan Stanley analyst Keith Weiss upgraded the stock from Equal-Weight to Overweight. Shopify shares rose 0.1% to close at $69.51 on Thursday. See how other analysts view this stock.</li>
<li>Telsey Advisory Group raised Tractor Supply Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>) price target from $250 to $275. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating. Tractor Supply shares slipped 0.02% to close at $247.35 on Thursday. See how other analysts view this stock.</li>
<li>B of A Securities boosted Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) price target from $50 to $56. B of A Securities analyst Andrew Didora maintained a Buy rating. Alaska Air shares rose 4% to close at $44.44 on Thursday. See how other analysts view this stock.</li>
<li>Jefferies slashed Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) price target from $585 to $438. Jefferies analyst Ashley Helgans downgraded the stock from Buy to Hold. Ulta Beauty shares rose 0.1% to close at $425.11 on Thursday. See how other analysts view this stock.</li>
</ul>

Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38329059/netflix-procter-gamble-and-3-stocks-to-watch-heading-into-friday">Netflix, Procter &amp; Gamble And 3 Stocks To Watch Heading Into Friday</a>

DELL

NFLX

NOVA

SHOP

TSCO

ULTA

Netflix To Rally Around 31%? Here Are 10 Top Analyst Forecasts For Friday

D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported better-than-expected second-quarter <a href="https://www.benzinga.com/news/earnings/24/04/38315651/why-builder-d-r-horton-shares-are-surging-today">financial results on Thursday</a>.
D.R. Horton posted GAAP EPS of $3.52, topping market estimates of $3.07. The company&#8217;s sales came in at $9.100 billion versus expectations of $8.266 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
D.R. Horton had 45,000 homes in inventory, of which 27,600 were unsold as of March 31, 2024.
D.R. Horton updated FY24 outlook for revenue to $36.7 billion to $37.7 billion (prior view $36 billion-$37.3 billion) vs. the consensus of $36.32 billion. It now expects Homes closed to be 89,000 homes to 91,000 homes (prior view 87,000 homes-90,000 homes). DHI reiterated cash provided by operations guidance of around $3 billion and currently expects share repurchases of ~$1.6 billion.
Donald R. Horton, Chairman of the Board, said, &#8220;The D.R. Horton team delivered solid results in the second fiscal quarter of 2024, highlighted by earnings of $3.52 per diluted share. Consolidated pre-tax income increased 23% to $1.5 billion on a 14% increase in revenues to $9.1 billion, with a pre-tax profit margin of 16.8%.&#8221;
D.R. Horton shares rose 0.1% to close at $145.88 on Thursday.
These analysts made changes to their price targets on D.R. Horton following earnings announcement.
<ul>
<li>UBS raised the price target on D.R. Horton from $192 to $200. UBS analyst John Lovallo maintained a Buy rating.</li>
<li>Barclays cut the price target on D.R. Horton from $186 to $176. Barclays analyst Matthew Bouley maintained an Overweight rating.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38333390/how-to-earn-500-a-month-from-innovative-industrial-properties-stock">How To Earn $500 A Month From Innovative Industrial Properties Stock</a>

These Analysts Revise Their Forecasts On D.R. Horton After Q2 Results

Barclays analyst Matthew Bouley maintains D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a Overweight and lowers the price target from $186 to $176.

Barclays Maintains Overweight on D.R. Horton, Lowers Price Target to $176

UBS analyst John Lovallo maintains D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a Buy and raises the price target from $192 to $200.

UBS Maintains Buy on D.R. Horton, Raises Price Target to $200

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks closed mixed on Thursday, with the S&amp;P 500 falling for a fifth straight session. All major indices are also on course to record losses this week, with the S&amp;P 500 falling more than 2% so far during the week.
On the economic data front, U.S. initial jobless claims came in unchanged from the previous week at 212,000 for the week ending April 18, down from market expectations of 215,000. The Philadelphia Fed Manufacturing Index increased 12 points to a reading of 15.5 in April, topping market estimates of 1.5.
D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported better-than-expected second-quarter financial results. After the closing bell, Netflix Inc  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported upbeat earnings and sales results for its first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, utilities and consumer staples stocks recording the biggest gains on Thursday. However, information technology and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 22 points to 37,775.38 on Thursday. The S&amp;P 500 fell 0.22% at 5,011.12, while the Nasdaq Composite dipped 0.52% at 15,601.50 during Thursday's session.
Investors are awaiting earnings results from The Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.
At a current reading of 34.1, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 34.3.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38312296/jim-cramer-recommends-buying-ethereum-or-bitcoin-instead-of-this-stock-lets-not-fool-aro">Jim Cramer Recommends Buying Ethereum Or Bitcoin Instead Of This Stock: &#8216;Let&#8217;s Not Fool Around&#8217;</a>

Investor Optimism Edges Lower; S&P 500 Settles Lower For Fifth Session

U.S. stocks traded mostly lower toward the end of trading, with the NASDAQ Composite falling around 0.5% on Thursday.
The Dow traded down 0.01% to 37,753.28 while the NASDAQ fell 0.49% to 15,605.90. The S&amp;P 500 also fell, dropping, 0.26% to 5,009.09.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38311966/izea-worldwide-and-2-other-stocks-under-3-insiders-are-buying">IZEA Worldwide And 2 Other Stocks Under $3 Insiders Are Buying</a>
Leading and Lagging Sectors Communication services shares climbed by 0.7% on Thursday.
In trading on Thursday, information technology shares fell by 0.9%.
Top Headline D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported better-than-expected second-quarter financial results.
D.R. Horton posted GAAP EPS of $3.52, topping market estimates of $3.07. The company's sales came in at $9.100 billion versus expectations of $8.266 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) shares shot up 130% to $0.9276 after the company announced it entered into a definitive merger agreement with Triller.
Shares of 23andMe Holding Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ME#NASDAQ">ME</a>) got a boost, surging 41% to $0.5012 after CEO Anne Wojcicki said she is considering a proposal to take the company private.
TH International Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THCH#NASDAQ">THCH</a>) shares were also up, gaining 19% to $1.2394 after the company reported a year-over-year increase in fourth-quarter financial results.
Equities Trading DOWN
SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) shares dropped 29% to $0.2551. SuperCom announced pricing of $2.9 million registered direct offering.
Shares of Lithium Americas Corp.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) were down 29% to $4.6999 after the company priced a $275 million public offering.
NRx Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRXP#NASDAQ">NRXP</a>) was down, falling 27% to $3.0550. NRx Pharmaceuticals announced pricing of $2 million underwritten public offering of common stock at a public offering price of $3.30 per share.
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38313029/tesla-to-123-here-are-10-top-analyst-forecasts-for-thursday&quot;">Tesla To $123? Here Are 10 Top Analyst Forecasts For Thursday</a> 
Commodities In commodity news, oil traded up 0.1% to $82.77 while gold traded up 0.3% at $2,395.40.
Silver traded down 0.3% to $28.31 on Thursday, while copper rose 1.9% to $4.4225.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.24%, London's FTSE 100 rose 0.37% while Spain's IBEX 35 Index gained 1.23% The German DAX gained 0.38% French CAC 40 climbed 0.52% while Italy's FTSE MIB Index gained 0.74%.
Construction output in the Eurozone fell by 0.4% from the prior year in February compared to a revised 0.3% decline in the earlier month. The current account surplus in the Eurozone increased to €31.6 billion in February versus €10.7 billion in the year-ago period. Passenger car registrations in the European Union fell 5.2% year-over-year to 1 million units for March.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 gaining 0.31%, Hong Kong's Hang Seng Index gaining 0.82%, China's Shanghai Composite gaining 0.09% and India's S&amp;P BSE Sensex falling 0.62%.
Hong Kong's unemployment rate rose to 3% in the three months ending March from 2.9% in the prior five periods.
Economics
The Philadelphia Fed Manufacturing Index increased 12 points to a reading of 15.5 in April, topping market estimates of 1.5.
U.S. initial jobless claims came in unchanged from the previous week at 212,000 for the week ending April 18, down from market expectations of 215,000.
Existing-home sales in the U.S. fell 4.3% to an annualized rate of 4.19 million units in March.
U.S. natural-gas stocks increased 50 billion cubic feet during the week ended April 12, 2024.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38289870/top-5-tech-and-telecom-stocks-that-may-rocket-higher-this-month&quot;">Top 5 Tech And Telecom Stocks That May Rocket Higher This Month</a>

AGBA

NRXP

SPCB

THCH

Nasdaq Down 0.5%; Lithium Americas Shares Slide

Stocks surged higher on Thursday, with the S&amp;P 500 index aiming to snap a four-day losing streak as investors assess the latest wave <a href="https://www.benzinga.com/calendars/earnings">of corporate earnings.</a>
During midday trading in New York, all major indices were in the green. Notably, small caps, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), outperformed, posting a 1% increase.
Industry-wise, airline stocks continued their upward momentum, with the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) climbing 2.7%, building on Wednesday&#8217;s 3.9% surge.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) had another lackluster session, declining over 3% and on track for its lowest close since January 2023. This decline followed Deutsche Bank&#8217;s downgrade of the EV-maker from Buy to Hold, citing concerns over the strategic pivot to autonomous vehicles.
On the data front, the Philadelphia Fed Manufacturing Index posted a sharp upside surprise, registering at 15.5 compared to the expected 1.5 for April. However, existing home sales disappointed expectations, declining 4.3% year over year.
Commodities experienced a rebound, with copper witnessing strong gains, up over 2% to reach a 22-month high, and gold showing further strength with a 1% increase. Natural gas prices rallied over 3% due to slower than expected inventory builds last week.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied 4% to reach $63,700 ahead of the highly anticipated halving event.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,964.69</td>
<td>0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,894.26</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,038.47</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,526.21</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $502.25, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) also rose 0.4% to $379.08 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% up to $426.62, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) was the major laggard, down 0.4%. 
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Discovery Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) rose 3.6% following the company&#8217;s first quarter results. Peer Capital One Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) mimicked the move ahead of next week&#8217;s earnings release. </li>
<li>Other stocks reacting to earnings were Genuine Parts Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>), up over 12%, Alaska Air Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>), up over 5%, Blackstone Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), down 2%, Comerica, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>), up over 3%, Ally Financial Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), up over 8%, D.R. Horton, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), up over 2%, KeyCorp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), down 0.4%, and Marsh &amp; McLennan Companies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), up over 3%. </li>
<li>Notable names reporting after the close are Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) and Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).</li>
</ul>
Image generated using artificial intelligence via Midjourney.

Mid Cap

Downgrades

Small Cap

ALLY

ISRG

JETS

Stocks Edge Higher As Earnings Provide Support, Tesla Sinks To 15-Month Lows, Bitcoin Rebounds: What's Driving Markets Thursday?

U.S. stocks traded higher midway through trading, with the S&amp;P 500 gaining around 0.5% on Thursday.
The Dow traded up 0.64% to 37,996.39 while the NASDAQ rose 0.41% to 15,747.36. The S&amp;P 500 also rose, gaining, 0.46% to 5,045.07.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38311966/izea-worldwide-and-2-other-stocks-under-3-insiders-are-buying">IZEA Worldwide And 2 Other Stocks Under $3 Insiders Are Buying</a>
Leading and Lagging Sectors &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Communication services shares climbed by 1.3% on Thursday.
In trading on Thursday, utilities shares rose by just 0.2%.
Top Headline 
D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported better-than-expected second-quarter financial results.
D.R. Horton posted GAAP EPS of $3.52, topping market estimates of $3.07. The company's sales came in at $9.100 billion versus expectations of $8.266 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) shares shot up 95% to $0.7853 after the company announced it entered into a definitive merger agreement with Triller.
Shares of 23andMe Holding Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ME#NASDAQ">ME</a>) got a boost, surging 46% to $0.5194 after CEO Anne Wojcicki said she is considering a proposal to take the company private.
Bio-Path Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTH#NASDAQ">BPTH</a>) shares were also up, gaining 81% to $5.86 after the company announced the completion of its second dose cohort in Phase 1/1b clinical trial of BP1002 evaluating the ability of BP1002 to treat refractory/relapsed acute myeloid leukemia patients
Equities Trading DOWN
SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) shares dropped 29% to $0.2545. SuperCom announced pricing of $2.9 million registered direct offering.
Shares of Lithium Americas Corp.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) were down 27% to $4.8150 after the company priced a $275 million public offering.
NRx Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRXP#NASDAQ">NRXP</a>) was down, falling 25% to $3.1415. NRx Pharmaceuticals announced pricing of $2 million underwritten public offering of common stock at a public offering price of $3.30 per share.
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38313029/tesla-to-123-here-are-10-top-analyst-forecasts-for-thursday">Tesla To $123? Here Are 10 Top Analyst Forecasts For Thursday</a> 
Commodities In commodity news, oil traded down 0.3% to $82.46 while gold traded up 0.4% at $2,398.00.
Silver traded up 0.3% to $28.48 on Thursday, while copper rose 2.1% to $4.4315.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.31%, London's FTSE 100 rose 0.42% while Spain's IBEX 35 Index gained 1.30% The German DAX gained 0.49% French CAC 40 climbed 0.69% while Italy's FTSE MIB Index gained 0.68%.
Construction output in the Eurozone fell by 0.4% from the prior year in February compared to a revised 0.3% decline in the earlier month. The current account surplus in the Eurozone increased to €31.6 billion in February versus €10.7 billion in the year-ago period. Passenger car registrations in the European Union fell 5.2% year-over-year to 1 million units for March.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 gaining 0.31%, Hong Kong's Hang Seng Index gaining 0.82%, China's Shanghai Composite gaining 0.09% and India's S&amp;P BSE Sensex falling 0.62%.
Hong Kong's unemployment rate rose to 3% in the three months ending March from 2.9% in the prior five periods.
Economics
The Philadelphia Fed Manufacturing Index increased 12 points to a reading of 15.5 in April, topping market estimates of 1.5.
U.S. initial jobless claims came in unchanged from the previous week at 212,000 for the week ending April 18, down from market expectations of 215,000.
Existing-home sales in the U.S. fell 4.3% to an annualized rate of 4.19 million units in March.
U.S. natural-gas stocks increased 50 billion cubic feet during the week ended April 12, 2024.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38289870/top-5-tech-and-telecom-stocks-that-may-rocket-higher-this-month">Top 5 Tech And Telecom Stocks That May Rocket Higher This Month</a> 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="498" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18114833/Crude-oil-4-logo-1024x498.jpg" alt="" class="wp-image-298291" style="width:799px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18114833/Crude-oil-4-logo-1024x498.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18114833/Crude-oil-4-logo-300x146.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18114833/Crude-oil-4-logo-768x373.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18114833/Crude-oil-4-logo-1536x746.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18114833/Crude-oil-4-logo.jpg 1850w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

BPTH

Crude Oil Edges Lower; Bio-Path Holdings Shares Spike Higher

D.R. Horton, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) shares are trading higher after the company reported better-than-expected second-quarter FY24 financial results and&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38309418/d-r-horton-inc-americas-builder-reports-fiscal-2024-second-quarter-earnings-and-declares-quarterly" rel="noreferrer noopener">issued guidance above estimates</a>.
Sales grew 14% Y/Y to $9.1 billion, beating the consensus of $8.3 billion. Net sales orders increased 14% Y/Y to 26,456 homes and 17% in value to $10.1 billion.
Homes closed in the quarter increased 15% Y/Y to 22,548 homes and 14% Y/Y in value to $8.5 billion.&nbsp;
EPS was $3.52 (+29% Y/Y),&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $3.06.</a>
Sales order backlog of homes under contract as of March 31, 2024, decreased 7% to 17,873 homes and 5% in value to $7.0 billion.
D.R. Horton had 45,000 homes in inventory, of which 27,600 were unsold as of March 31, 2024.
Return on equity (ROE) was 22.2% for trailing twelve months ended March 31, 2024, and homebuilding return on inventory (ROI) was 29.9%.
The company's net cash used in operations for the six-months totaled $(470.1) million, compared to the operating cash flow of $1.47 billion a year ago.
Consolidated cash balance was $3.1 billion, and available capacity on its credit facilities was $2.6 billion, for a total liquidity of $5.7 billion.
D.R. Horton repurchased 2.7 million shares of common stock for $402.2 million during the quarter. The company's remaining stock repurchase authorization on March 31, 2024, was $800.5 million.
Dividend: D.R. Horton declared a quarterly cash dividend of $0.30 per common share, payable on May 9, 2024, to stockholders of record on May 2, 2024.
Outlook: D.R. Horton updates FY24 outlook for revenue to $36.7 billion to $37.7 billion (prior view $36 billion-$37.3 billion) vs. the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $36.32 billion</a>.
It now expects Homes closed to be 89,000 homes to 91,000 homes (prior view 87,000 homes-90,000 homes).
DHI reiterated cash provided by operations guidance of around $3 billion and currently expects share repurchases of ~$1.6 billion.
&nbsp;Investors can gain exposure to the stock via&nbsp;IShares U.S. Home Construction ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and&nbsp;Invesco Building &amp; Construction ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKB#NYSE">PKB</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37855254/are-you-a-housing-market-lock-in-high-mortgage-rates-result-in-people-not-living-in-homes-they-w" rel="noreferrer noopener">Are You A Housing Market Lock-In? High Mortgage Rates Result In &#8216;People Not Living In Homes They Would Prefer&#8217;</a>
Price Action: DHI shares are up 2.65% at $149.60 on the last check Thursday.
Photo via Shutterstock

Guidance

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Companies in the Consumer Cyclical sector have received a lot of coverage today as analysts weigh in on Wayfair (W – Research Report), DR Horton (D...

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Although current expectations indicate that U.S. interest rates may not decrease significantly soon, there&rsquo;s skepticism about maintaining high rates over an extended period. If interest rates eventually decrease, financing for new homes would become cheaper, stimulating demand for home purchases and, thus, homebuilder stocks.



While inflation remains a concern, prolonged high interest rates could elevate inflation as businesses and consumers adjust expectations and spending accordingly.



If your rent goes up due to inflation, it will never return to the same level again, even when inflation dips by a percentage point or two. That then becomes the new price moving forward. 



Also, we will inevitably see the ugly side of the economy sooner or later. If we evaluate when&rsquo;s the best time to load up on homebuilding stocks purely by the interest rate cycle, we are surely at the peak.



Here are three homebuilder stocks for investors to consider.



<h2>D.R. Horton (DHI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/dr_horton_dhi_dhi1600-300x169.jpg" alt="In this photo illustration the D.R. Horton (DRI) logo seen displayed on a smartphone."><div>Source: Casimiro PT / Shutterstock.com</div></div>D.R. Horton (NYSE:<a href="https://investorplace.com/stock-quotes/dhi-stock-quote/">DHI</a>) is the largest U.S. homebuilder by volume and should be one for investors to keep on their radars.



There has also been a <a href="https://www.marketscreener.com/quote/stock/DR-HORTON-12293/news/D-R-Horton-Inc-Updates-Consolidated-Revenue-Guidance-for-the-Fiscal-2024-46467529/">fairly recent development</a>. For fiscal 2024, DHI has adjusted its revenue guidance upwards. The company anticipates consolidated revenues between $36.7 billion and $37.7 billion. This represents an increase from earlier projections, which ranged from $36.0 billion to $37.3 billion&#8203;.



Regarding <a href="https://finance.yahoo.com/news/d-r-horton-inc-dhi-181954390.html">performance for the first quarter</a> of fiscal 2024, DHI reported stable earnings despite market headwinds. The company declared a quarterly dividend of $0.30 per share. Its net income was slightly down by 1% year-over-year at $947.4 million, but diluted earnings per share increased to $2.82 from $2.76.&nbsp;



DHI then has solid momentum behind it, and being the largest homebuilder in the U.S. positions it as a serious beneficiary of falling interest rates as the market heats up.



<h2>M/I Homes (MHO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/08/at-your-home-stock-1600-300x169.jpg" alt="Technician working on roof repair"><div>Source: Shutterstock / udomsup sukarnjana</div></div>M/I Homes (NYSE:<a href="https://investorplace.com/stock-quotes/mho-stock-quote/">MHO</a>) has recently experienced a significant increase in hedge fund ownership, signaling investor confidence.



MHO has a robust plan for 2024, focusing on new home construction and a wide range of community developments across various locations. For the upcoming year, MHO plans to expand its offerings in key markets, including continuing developments in Central Ohio, where it has already been established as a leading builder.



MHO is also in a very stable position. The company achieved record shareholders&rsquo; equity of $1.6 billion last quarter, reflecting a notable increase of 29% from the previous year. Additionally, MHO ended the year with a cash balance of $236 million and no borrowings on its $550 million credit facility.



These factors then position MHO as one of the top homebuilder stocks to buy due to its recent results and accretive outlook.



<h2>Meritage Homes (MTH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/homebuilder_construction_1600-300x169.png" alt="A photo of a person in a neon green vest holding blueprints and standing behind a white table covered with supplies like pencils, a computer, a ruler and two wooden house shapes. Homebuilder Stocks"><div>Source: ARMMY PICCA/ShutterStock.com</div></div>Meritage Homes (NYSE:<a href="https://investorplace.com/stock-quotes/mth-stock-quote/">MTH</a>) targets primarily entry-level and first-move-up buyers across several U.S. states.



This is because MTH caters to the younger crowd. Falling interest rates may benefit them the most, as high rates could be gatekeeping them from joining the property ladder. Thus, MTH will be an especially strong pick for the next couple of years.



In Q4 of 2023, MTH <a href="https://investors.meritagehomes.com/news-events-presentations/press-releases/detail/382/meritage-homes-reports-fourth-quarter-2023-results">reported </a>$5.38 per share, exceeding analyst expectations. Revenue for the quarter stood at $1.65 billion, surpassing the estimated $1.52 billion. These results indicate a robust close to the year.



Also, for 2024, MTH has projected earnings per share to range from $16.38 to $18.75. This reflects a strong EPS growth potential on behalf of MTH, and we are very likely at the peak of the interest rate cycle. All the right factors are in MTH&rsquo;s favor, and it&rsquo;s a homebuilder stock investors should buy in April.



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-top-3-homebuilder-stocks-worth-adding-to-your-april-buy-list/">The Top 3 Homebuilder Stocks Worth Adding to Your April Buy List</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Top 3 Homebuilder Stocks Worth Adding to Your April Buy List

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BAMKF

BCAP

BEPC

BKAMF

BKFAF

BKFPF

BKGFF

BKGFY

BROE

BROXF

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CARR

CBRE

CHKGF

CNGKY

CSGP

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FERG

FVAL

GRGTF

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INGEF

MDYV

PCAR

REXR

RIVN

SBUX

SEGXF

SVLPF

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UHAL

WARFF

WARFY

WYNN

Press Releases

D.R. Horton, Inc., America's Builder, Reports Fiscal 2023 Third Quarter Earnings and Declares Quarterly Dividend of $0.25 Per Share

D.R. Horton, Inc. Names Paul J. Romanowski as President and CEO and David V. Auld as Executive Vice Chair

D.R. Horton, Inc. to Release 2023 Fourth Quarter and Fiscal Year-end Earnings on November 7, 2023

D.R. Horton, Inc., America's Builder, Reports Fourth Quarter and Fiscal 2023 Earnings and Increases Quarterly Dividend to $0.30 Per Share

D.R. Horton, Inc. to Release 2024 First Quarter Earnings on January 23, 2024

D.R. Horton, Inc., America's Builder, Reports Fiscal 2024 First Quarter Earnings and Declares Quarterly Dividend of $0.30 Per Share

D.R. Horton, Inc. to Present at the Citi 2024 Global Industrial Tech and Mobility Conference

D.R. Horton, Inc. to Release 2024 Second Quarter Earnings on April 18, 2024

D.R. Horton, Inc., America's Builder, Reports Fiscal 2024 Second Quarter Earnings and Declares Quarterly Dividend of $0.30 Per Share

Diamond Lake Minerals (OTC: DLMI) And BOXABL Team Up To Bring Affordable Housing To The Masses And Digital Tokens To Investors