Summary
D.R. Horton beat both sales and EPS estimates while rising guidance for the full fiscal year of 2018.
Strong affordable housing demand was one of the reasons why the company did so well.
D.R. Horton remains a buy and will likely see $50 over the next few months.
D.R. Horton (DHI) did it again. The company easily beat earnings thanks to a strong economy and high demand for affordable homes. The company revealed both a strong top and bottom line while increasing profitability. Moreover, guidance has been raised which supported a 10% rally after the earnings. Both traders and investors should stick to the stock as long as economic growth supports further gains.
Source: D.R. Horton
