DR Horton Inc

Most Recent

  • uploads///
    Consumer

    Could New Home Sales Continue to Rise?

    The US Census Bureau and Department of Housing and Urban Development report monthly data on the number of new homes sold in the United States.

    By Ricky Cove
  • uploads///PART  ND
    Company & Industry Overviews

    A Glance at Key Updates in the Consumer Sector

    So far in 2018, the S&P 500 Consumer Discretionary Index has risen 13.7%, outperforming the S&P 500 Index’s rise of 3.9%.

    By Sushree Mohanty
  • uploads///cons cycl
    Consumer

    Analyzing the Consumer Cyclical Sector’s Dividend Yield: Part One

    The consumer cyclical sector has an average dividend yield of 1.4%.

    By Amanda Lawrence
  • uploads///
    Macroeconomic Analysis

    Why the Fall in April New Home Sales Isn’t a Reason to Worry

    As per the recent report, new single-family homes (XHB) sold in April were at a seasonally adjusted rate of 662,000 units.

    By Ricky Cove
  • uploads///
    Macroeconomic Analysis

    Should Housing Investors Worry about Declining Building Permits?

    An increase in the number of building permits in any given month is a signal for increased activity in the housing sector (DHI) in the future.

    By Ricky Cove
  • uploads///
    Consumer

    What to Make of the March Increase in Building Permits Issued

    The US Census Bureau and Department of Housing and Urban Development report monthly data on building permits issued in the United States.

    By Ricky Cove
  • uploads///
    Consumer

    Why a Rebound in March Housing Starts Isn’t Satisfying the Sector

    The volatility in housing starts data remains elevated. Housing starts in March were reported to have risen 1.9%.

    By Ricky Cove
  • uploads///
    Consumer

    What to Make of the Drop in Building Permits Issued in February

    The decrease in building permits spanned across the sectors in February.

    By Ricky Cove
  • uploads///
    Consumer

    What’s behind the 7% Fall in February Housing Starts?

    Just as markets were celebrating the stellar 9.7% increase in housing starts in January, the February data proved to be a damper for that enthusiasm.

    By Ricky Cove
  • uploads///
    Consumer

    Why Building Permits Didn’t Change in December

    For 2017, 1,263,400 housing units have been authorized by building permits—a 4.7% increase from 1,206,600 housing units in 2016.

    By Ricky Cove
  • uploads///
    Consumer

    Should Investors Be Concerned about Fewer Building Permits?

    In November 2017, housing units (XHB) authorized by building permits were at a seasonally adjusted rate of 1.298 million—a decrease of 1.4% from October.

    By Ricky Cove
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    Consumer

    Analyzing Housing Starts in October 2017

    In October 2017, housing starts rebounded sharply from the slump in September. October housing starts beat the market’s expectations.

    By Ricky Cove
  • uploads///
    Consumer

    The Truth about Housing Starts in September 2017

    In September 2017, US housing starts fell from an upwardly revised August number of 1.183 million to 1.127 million units—a negative surprise.

    By Ricky Cove
  • uploads///
    Consumer

    What a Building Permit Bounce Means for the Housing Market

    The number of building permits issued in June 2017 stood at 1.25 million, an improvement from May’s 1.17 million.

    By Ricky Cove
  • uploads///TOP
    Company & Industry Overviews

    D.R. Horton Was the S&P 500’s Top Gainer on July 7

    D.R. Horton, one of the largest home construction companies in the US, rose on Friday. Homebuilders rose with D.R. Horton leading the rally.

    By Val Kensington
  • uploads///part
    Macroeconomic Analysis

    Why Eric Rosengren Is Worried about US Unemployment Rate

    Eric Rosengren, president of the Federal Reserve Bank of Boston, warned about the jobless rate being below the natural full employment estimate of 4.7%.

    By Ricky Cove
  • uploads///Prolonged Lower Interest Rate Mainly Supported the Equity Market Rally
    Company & Industry Overviews

    Could Equity Valuations Pick Up in a Lower Interest Rate Environment?

    According to Morgan Stanley Private Wealth Management’s Andy Chase, long-term fundamentals look strong with the recent pickup in economic activity.

    By Mary Sadler
  • uploads///SEP Median Sep
    Macroeconomic Analysis

    September 2016 Projections: US GDP Growth and Unemployment

    FOMC (Federal Open Market Committee) participants have toned down their projections for US GDP growth in 2016 for the second successive quarter.

    By David Ashworth
  • uploads///NAHB Housing Market Index
    Consumer

    Homebuilder Sentiment Improved in August

    The NAHB Wells Fargo Housing Market Index, which measures homebuilder sentiment, peaked at 71 during the height of the housing bubble in late 2005. It bottomed out at 8 in early 2009.

    By Brent Nyitray, CFA, MBA
  • uploads///Housing starts
    Consumer

    Did Housing Starts Rise Again in July?

    In July, the Northeast saw housing starts jump from 116,000 to 134,000, while starts rose from 171,000 to 175,000 in the Midwest.

    By Brent Nyitray, CFA, MBA
  • uploads///Foreclosure Completions
    Consumer

    Why Did Foreclosure Completions Rise in June?

    In June, the total foreclosure inventory fell 26% from a year ago to 375,000 homes. This works out to be about 1% of all homes with mortgages.

    By Brent Nyitray, CFA, MBA
  • uploads///Job Cuts
    Consumer

    Job Cuts Rose in July but Fell Sharply on an Annual Basis

    Planned job cuts rose 19% in July compared to June. However, they fell 57% YoY (year-over-year) in July.

    By Brent Nyitray, CFA, MBA
  • uploads///Construction Spending
    Consumer

    Construction Spending Fell in June

    In June 2016, private construction fell 0.6%, and public construction fell 0.6% month-over-month.

    By Brent Nyitray, CFA, MBA
  • uploads///DHI EPS
    Consumer

    For Now, D.R. Horton Avoids Fallout from Declining Energy Prices

    D.R. Horton (DHI) reported net income of $294.8 million, or $0.66 per share, for 3Q16.

    By Brent Nyitray, CFA, MBA
  • uploads///Fannie Mae Attitudes about housing good time to buy
    Consumer

    Why Many Homeowners Think It’s a Good Time to Sell

    Fannie Mae’s monthly National Housing Survey asked respondents if it’s a good time to buy and sell a house. They’re more confident that it’s a good time to sell.

    By Brent Nyitray, CFA, MBA
  • uploads///Housing Starts LT
    Consumer

    Homebuilder Earnings and Housing Data on Tap this Week

    This week is relatively data-light. However, a slew of reports will interest real estate investors.

    By Brent Nyitray, CFA, MBA
  • uploads///Hourly Earnings
    Consumer

    Why Wage Inflation Could Be Picking Up

    Given the terrible growth in payrolls, we might see more flattening of wage inflation back towards the current inflation rate.

    By Brent Nyitray, CFA, MBA
  • uploads///Nonfarm Payrolls
    Consumer

    June Payrolls Rebound after a Dismal May

    In June 2016, non-farm payrolls rose by 287,000. Non-farm payrolls easily topped Wall Street analysts’ estimate of 180,000.

    By Brent Nyitray, CFA, MBA
  • uploads///MBA Purchase Index
    Consumer

    Mortgage Purchase Applications Fell Last Week

    Mortgage purchase applications fell 3% in the week ending June 24, 2016. We’re at the tail end of the seasonally strong period for house purchases.

    By Brent Nyitray, CFA, MBA
  • uploads///KB Home Revenue
    Earnings Report

    KB Home Just Reported Strong Revenue Growth for 2Q16

    For 2Q16, KB Home reported revenues of $811 million, which easily topped the Wall Street estimate consensus of $750 million. Revenues increased by 30% YoY.

    By Brent Nyitray, CFA, MBA
  • uploads///Lennar Gross Margins
    Earnings Report

    Lennar’s Gross Margin Falls, but Guidance Remains for 2016

    In 2Q16, Lennar’s (LEN) gross margin rose 40 basis points sequentially to 23.1%. In 2Q15, the company’s gross margin was 23.8%.

    By Brent Nyitray, CFA, MBA
  • uploads///Hourly Earnings
    Macroeconomic Analysis

    Average Hourly Earnings Rose in May

    Aside from employment, the most important indicator of economic well-being is wages.

    By Brent Nyitray, CFA, MBA
  • uploads///Nonfarm Payrolls
    Macroeconomic Analysis

    May Payrolls Were Exceptionally Weak

    In May 2016, non-farm payrolls rose by 38,000, which missed Wall Street analysts’ estimate of 160,000 by a wide margin.

    By Brent Nyitray, CFA, MBA
  • uploads///US New Home Sales
    Macroeconomic Analysis

    Do US Economic Indicators Support a Rate Hike?

    US economic growth was revised to 0.8% in the second reading of GDP for 1Q16 compared to the previous month’s 0.5%.

    By Lynn Noah
  • uploads///Price Movement in the VFINX and the JNK
    Company & Industry Overviews

    US Stock Indexes Rose as the US Economy Recovered

    Upbeat new home sales data boosted investors’ sentiments about US economic recovery, causing US equity indexes to rise from May 17 to May 24, 2016.

    By Lynn Noah
  • uploads///Toll Brothers Geo footprint
    Earnings Report

    Geographic Results for Toll Brothers in Fiscal 2Q16

    In Toll Brothers’ North segment, the ASP (average selling price) rose from $630,000 to $705,000 in fiscal 2Q16.

    By Brent Nyitray, CFA, MBA
  • uploads///Toll Brothers EPS
    Earnings Report

    Did Toll Brothers’ Earnings per Share Rise in Fiscal 2Q16?

    After Toll Brothers reported fiscal 2Q16 earnings on May 24, 2016, its stock rose by $2.41 to close the day at $29.51.

    By Brent Nyitray, CFA, MBA
  • uploads///Toll Brothers ASPs
    Earnings Report

    Is Pricing Growth Stalling for Toll Brothers?

    Toll Brothers (TOL) reported that its ASP (average selling price) for fiscal 2Q16 was $855,500, a drop of 2% on a quarter-over-quarter basis.

    By Brent Nyitray, CFA, MBA
  • uploads///NAHB Housing Market Index
    Macroeconomic Analysis

    Behind Homebuilder Sentiment So Far in May

    The NAHB Wells Fargo Housing Market Index measures homebuilder sentiment has been increasing steadily since 2009. Recently, it’s started to accelerate.

    By Brent Nyitray, CFA, MBA
  • uploads///JOLT Job Openings
    Macroeconomic Analysis

    Good News! Job Openings Rose in March

    In March 2016, there were 5.8 million job openings—up 9% YoY. The number of job openings came in well above Wall Street analysts’ estimates.

    By Brent Nyitray, CFA, MBA
  • uploads///Construction Public GDP
    Company & Industry Overviews

    Analyzing the New Deal: Do We Need a New One?

    Historically, the use of public construction dollars has been the big lever that the government uses to stimulate the economy. This dates back to the New Deal.

    By Brent Nyitray, CFA, MBA
  • uploads///household formation vs housing starts bar chart
    Macroeconomic Analysis

    Where’s the First-Time Homebuyer?

    In March, the share of existing home sales attributable to the first-time homebuyer was 30%—flat with February. Historically, this was closer to 40%.

    By Brent Nyitray, CFA, MBA
  • uploads///Construction Spending
    Macroeconomic Analysis

    Construction Spending Rose in March: What Does It Mean?

    Construction spending rose to a seasonally adjusted annual rate of $1.14 trillion in March from $1.13 trillion in February. Spending rose 8% YoY.

    By Brent Nyitray, CFA, MBA
  • uploads///DHI Gross Margins
    Earnings Report

    D.R. Horton Reported Steady Gross Margins

    D.R. Horton (DHI) has been reporting lower gross margins due to sticker shock. Home prices have been increasing, but wage growth has been stagnant.

    By Brent Nyitray, CFA, MBA
  • uploads///DHI Revenues
    Earnings Report

    Analyzing D.R. Horton’s 2Q16 Revenue: It’s a Strong Start!

    D.R. Horton reported 2Q16 revenue of $2.7 billion—a 16% increase on a YoY basis and a sequential increase of ~14%. The revenue beat analysts’ expectations.

    By Brent Nyitray, CFA, MBA
  • uploads///Pulte Relative Performance
    Earnings Report

    Why PulteGroup’s Founder Wants to Fire the CEO and Lead Director

    Over time, Pulte has lifted its gross margins and improved revenues. However, the stock has still lagged its peers, especially the S&P SPDR Homebuilder ETF (XHB).

    By Brent Nyitray, CFA, MBA
  • uploads///household formation vs housing starts bar chart
    Macroeconomic Analysis

    Why Did the First-Time Homebuyer Step Back in February?

    In February, the share of existing home sales attributable to the first-time homebuyer was 30%—down 2 percentage points from January and up 1% YoY.

    By Brent Nyitray, CFA, MBA
  • uploads///Hourly Earnings
    Macroeconomic Analysis

    Wages Are Increasing 2.3% per Year: What Does That Mean?

    Employment and wages are key indicators for the Fed  Aside from employment, the most important indicator of economic well-being is wages. Despite falling unemployment, one of the conundrums facing the current labor market is flat real or inflation-adjusted wages. Over the past decade, wages have more or less kept pace with inflation, but they haven’t increased. Before the financial crisis, much of […]

    By Brent Nyitray, CFA, MBA
  • uploads///Housing starts
    Macroeconomic Analysis

    Housing Starts Rise as the Spring Selling Season Begins

    Housing starts rose from 1.12 million to ~1.18 million in February 2016. This was above Wall Street analysts’ estimates of 1.5 million.

    By Brent Nyitray, CFA, MBA
  • uploads///Foreclosure Completions
    Macroeconomic Analysis

    Foreclosure Completions Ticked Up Slightly in January

    Foreclosure completions rose by 5,000 units to 38,000 in January, according to CoreLogic. From 2000 to 2006, foreclosure completions averaged around 21,000 per month.

    By Brent Nyitray, CFA, MBA
  • uploads///Fannie Mae Attitudes about housing good time to buy
    Macroeconomic Analysis

    What’s the Fannie Mae National Housing Survey?

    Fannie Mae puts out its monthly National Housing Survey. It measures consumers’ attitudes about housing and the economy.

    By Brent Nyitray, CFA, MBA
  • uploads///household formation vs housing starts bar chart
    Macroeconomic Analysis

    Limited Supply: Analyzing Housing Starts and Household Formations

    There was a big fall in household formation in 2008. In 2005, household formation peaked at 1.9 million. By 2008, that number was just over 400 million.

    By Brent Nyitray, CFA, MBA
  • uploads///Existing Home Sales
    Macroeconomic Analysis

    Existing Home Sales Were Flat in January: Here’s Why

    The ratio of median home prices to median income ratio is 3.9x, well above the historical range of 3.2x to 3.6x.

    By Brent Nyitray, CFA, MBA
  • uploads///US Treasuries Yield Curve
    Company & Industry Overviews

    Treasury Yields Rise on Upbeat Consumer Inflation Data

    US Treasury yields rose across the yield curve after upbeat consumer inflation data suggested that the Fed may hike interest rates earlier than expected.

    By Lynn Noah
  • uploads///Foreclosure Completions
    Macroeconomic Analysis

    Is It Done Yet? Foreclosure Inventory at November 2007 Levels

    Foreclosure completions fell by 1,000 units to 32,000 in December. Completions fell 23% year-over-year. However, 33,000 is still a relatively high number.

    By Brent Nyitray, CFA, MBA
  • uploads///US Treasuries Yield Curve
    Company & Industry Overviews

    Treasury Yields Fall on Bank of Japan’s Negative Interest Rates

    Treasury yields fell across the yield curve, except for three-month, six-month, and one-year Treasury bills, after the Bank of Japan introduced a negative interest rate.

    By Lynn Noah
  • uploads///Pulte Gross Margins
    Earnings Report

    PulteGroup Saw an Increase in 4Q15 Gross Margins

    PulteGroup’s (PHM) gross margins for 4Q15 came in at 23.5%, up 40 basis points on a year-over-year basis and down ten basis points from the third quarter.

    By Brent Nyitray, CFA, MBA
  • uploads///PHSI
    Macroeconomic Analysis

    Pending Home Sales Rose Annually, but They’re Falling Monthly

    According to the National Association of Realtors, US pending home sales rose marginally at 0.1% in December versus a 1.1% fall in November 2015.

    By Lara Sheldon
  • uploads/// home sale price range
    Macroeconomic Analysis

    Properties for Sale: What Are They Like?

    The National Association of Realtors’ data showed that, on average, properties stayed on the market for 58 days before they were sold to buyers.

    By Peter Barnes
  • uploads/// median prices
    Macroeconomic Analysis

    Median Existing Home Prices Are Rising Higher and Higher

    With a rise of 7.6% YoY (year-over-year) to $224,000, December 2015 was the 46th consecutive month of YoY increases in median home prices.

    By Peter Barnes
  • uploads/// region
    Macroeconomic Analysis

    Existing Home Sales: Northeast and Midwest Led the Charge

    All four major regions of the country witnessed substantial increases in home sales in December 2015. The charge was led by the Northeast and Midwest.

    By Peter Barnes
  • uploads///DHI geography
    Earnings Report

    D.R. Horton Updated Its Guidance for 2016

    D.R. Horton (DHI) sounded relatively optimistic on its conference call. It was clearly happy with the most recent quarter despite the stock price reaction.

    By Brent Nyitray, CFA, MBA
  • uploads/// disad
    Macroeconomic Analysis

    How Zoning Can Be a Hindrance to Housing Market Growth

    Zoning restricts the freedom of property holders and REITs to use land however they want, given their specific development and investment interests.

    By Peter Barnes
  • uploads/// advt
    Macroeconomic Analysis

    How Zoning Regulations Benefit Communities

    Zoning protects existing property values by preventing incompatible uses of a property. It also protects residential properties from commercial development.

    By Peter Barnes
  • uploads/// regulations
    Macroeconomic Analysis

    How Zoning Regulations Impact City Development

    Zoning is the way that governments supervise land development and the kinds of uses each individual property may be directed toward for the public interest.

    By Peter Barnes
  • uploads/// INDEX NAR
    Macroeconomic Analysis

    What Are the Factors Driving Housing Affordability?

    Housing affordability took a beating in July 2015 after reaching its high in January 2013. The higher ratio of the home affordability index signifies relatively higher home affordability to buyers.

    By Peter Barnes
  • uploads/// price
    Macroeconomic Analysis

    Why Housing Affordability Is a Growing Concern in the US

    With the rise in property prices, housing affordability has become a growing concern in many markets of the country. High housing prices force people to the suburbs and rural towns to find affordable housing.

    By Peter Barnes
  • uploads///dxy
    Macroeconomic Analysis

    The US Dollar Index Was Flat after a Mixed Data Release

    The US dollar index was trading on a flattish note on January 20, with a slight rise of 0.10% for the day. In the end, the index closed the day at 99.09.

    By David Meyer
  • uploads/// afford index
    Macroeconomic Analysis

    Home Prices are Rising, but Not Home Sales—Why?

    A home is usually the most expensive asset that consumers can hold, and owning a home is among their lifetime goals. The question arises—why can’t more people own a house despite the availability of so many properties in the market?

    By Peter Barnes
  • uploads///Foreclosure Completions
    Macroeconomic Analysis

    Foreclosure Completions Fell in November: What Does It Mean?

    Foreclosure completions fell by 4,000 units to 33,000 in November, according to CoreLogic. Completions fell 19% YoY (year-over-year).

    By Brent Nyitray, CFA, MBA
  • uploads///Hourly Earnings
    Macroeconomic Analysis

    Wages Dipped Slightly in December: Here’s Why

    Average hourly earnings fell by 1 cent on a month-over-month basis in December 2015 and were up 2.5% year-over-year to $25.24. Average weekly hours were flat at 34.5.

    By Brent Nyitray, CFA, MBA
  • uploads///Nonfarm Payrolls
    Macroeconomic Analysis

    Labor Market Ended 2015 with Strong Payroll Growth in December

    In December 2015, non-farm payrolls increased by 292,000, easily topping Wall Street’s estimate of 200,000.

    By Brent Nyitray, CFA, MBA
  • uploads///US Treasuries Yield Curve
    Company & Industry Overviews

    Treasury Yields Were Mixed amid Oil Price Volatility

    Treasury yields rose across the yield curve—except for one-month T-bills, three-month T-bills, and three-year T-notes—in the week ending December 31.

    By Lynn Noah
  • uploads///Price comparison btwn tech
    Macroeconomic Analysis

    Positioning Your Portfolio in the Rising Rate Environment

    Sectors with companies that usually have a high level of debt such as utilities and telecommunications are the most affected by rate hikes.

    By Steve Sage
  • uploads///NAHB Housing Market Index
    Macroeconomic Analysis

    Builder Confidence Slipped in December 2015

    The NAHB Wells Fargo Housing Market Index measures builder confidence, gauging how builders view current and future sales of single-family residences. It asks builders to characterize sales as good, fair, or poor.

    By Brent Nyitray, CFA, MBA
  • uploads///dxy
    Macroeconomic Analysis

    US Dollar Index Fell, GDP Revised Down

    The US Dollar Index measures the strength of the US dollar against the other major currencies. It fell by 0.13% on December 22, 2015.

    By David Meyer
  • uploads///Prime Loan Rate
    Macroeconomic Analysis

    What Does the Future Hold for Mortgage REITs?

    US markets and investors might have taken the Fed’s interest rate hike positively, but it’s important to explore the future outlook of mortgage REITs.

    By Steve Sage
  • uploads///len pe
    Earnings Report

    How Does Lennar Compare to Its Peers?

    Lennar showed mixed results compared to its peers based on the PE and PBV ratios. The ETFs outperformed Lennar based on the PE and PBV ratios.

    By Gabriel Kane
  • uploads///US Treasuries Yield Curve
    Company & Industry Overviews

    Treasury Yield Curve Flattened after US Interest Rate Hike

    The US Treasury yield curve was flat for the week ended December 18, 2015, as short-term yields fell. Medium- to long-term yields rose after US interest rates rose by 25 basis points.

    By Lynn Noah
  • uploads///Lennar EPS
    Earnings Report

    Analyzing Lennar’s EPS and Balance Sheet

    Lennar (LEN) reported net earnings of $281.6 million, or $1.21 per share—compared to its net income of $245.3 million, or $1.07 per share, a year ago.

    By Brent Nyitray, CFA, MBA
  • uploads///HMI
    Macroeconomic Analysis

    December’s Housing Market Saw a Drop in Buyer Traffic

    According to the National Association of Home Builders (or NAHB), the housing market index fell by a single point to reach a level of 61.0 in December.

    By Lara Sheldon
  • uploads///tol pe
    Earnings Report

    How Does Toll Brothers Compare to Its Peers?

    The price-to-sales ratios of Toll Brothers, D.R. Horton, NVR, PulteGroup, and M.D.C. Holdings are 1.5x, 1.1x, 1.3x, 1.1x, and 0.68x, respectively.

    By Gabriel Kane
  • uploads///Toll Brothers Gross Margins
    Earnings Report

    Toll Brothers’ Gross Margins Fall on a Year-over-Year Basis

    In the fourth quarter of 2015, Toll Brothers’ (TOL) gross margins, excluding interest and write-downs, fell to 22.3% compared to 26.8% a year ago.

    By Brent Nyitray, CFA, MBA
  • uploads///
    Macroeconomic Analysis

    US Dollar Index Is Holding Steady

    The US Dollar index was trading in a narrow range on November 18, 2015. The slight movements down were mainly due to housing data coming out on a mixed note and the FOMC minutes.

    By David Meyer
  • uploads///DHI Gross Margins
    Earnings Report

    D.R. Horton Maintained Its Gross Margins

    D.R. Horton’s gross margins held steady at 19.9% in the fourth quarter of 2015. However, they fell on a YoY (year-over-year) basis from 20.5% in the fourth quarter of 2014.

    By Brent Nyitray, CFA, MBA
  • uploads///Hourly Earnings
    Macroeconomic Analysis

    Wage Growth Could Be Picking Up

    Average hourly earnings rose by 9 cents on a month-over-month basis in October and were up 2.4% YoY (year-over-year) to $25.20. However, wage growth is still barely outpacing inflation.

    By Brent Nyitray, CFA, MBA
  • uploads///Nonfarm Payrolls
    Macroeconomic Analysis

    October Non-Farm Payrolls Came in Strong and Bonds Sold Off

    In October, non-farm payrolls increased by 271,000, easily topping the Wall Street estimate of 185,000.

    By Brent Nyitray, CFA, MBA
  • uploads///Nonfarm Payrolls
    Macroeconomic Analysis

    Jobs Report Will Be the Highlight of the Week

    This week, REITs such as Annaly Capital Management (NLY) and American Capital Agency (AGNC) will focus almost exclusively on the jobs report and NLY’s earnings.

    By Brent Nyitray, CFA, MBA
  • uploads///C EV EBITDA
    Earnings Report

    PulteGroup’s Valuation Is Not Expected to Improve Dramatically

    PulteGroup’s valuation is not expected to improve dramatically from here unless the company shows some improvement in its finances.

    By Peter Barnes
  • uploads///Housing starts
    Macroeconomic Analysis

    Housing Starts Increased in September to Just over 1.2 Million

    Housing starts rose from a downward-revised ~1.13 million to ~1.21 million in September 2015. This was above Wall Street estimates of just over 1.14 million.

    By Brent Nyitray, CFA, MBA
  • uploads///nvr ps
    Earnings Report

    How Has NVR Performed Compared to Its Peers?

    The price-to-earnings ratios of NVR, D.R. Horton, PulteGroup, M.D.C. Holdings, and HFF are 21.17x, 16.91x, 13.77x, 24.16x, and 18.75x, respectively.

    By Gabriel Kane
  • uploads///nvr pm
    Earnings Report

    Organic Growth Boosts NVR’s Revenue

    NVR rose by 2.3% to close at $1,590 per share as of October 20, 2015, its year-to-date price movement at 24.7%.

    By Gabriel Kane
  • uploads///
    Macroeconomic Analysis

    US Dollar Index Flat after Mixed Housing Data

    The US dollar index was trading flat for the day on October 20, 2015. The day saw the housing starts come out above forecasts, and September’s building permits came out below expectations.

    By David Meyer
  • uploads///NAHB
    Macroeconomic Analysis

    Increased Expectations Will Likely Boost Housing Demand

    According to the National Association of Home Builders (or NAHB), the housing market index (or HMI) rose to 64 in October as compared to 61 in September 2015.

    By Lara Sheldon
  • uploads///MBA
    Macroeconomic Analysis

    Why Mortgage Applications Fell after a Spike on October 9

    A week after the implementation of a regulatory change, mortgage applications fell 27.6% for the week ending October 9 as against an increase of 25.5% in the previous week.

    By Lara Sheldon
  • uploads///MBA
    Macroeconomic Analysis

    Mortgage Applications Increased Prior to Regulatory Change

    Mortgage applications increased 25.5% for the week ending October 2, 2015 against a decrease of -6.7% in the previous week.

    By Lara Sheldon
  • uploads///Nonfarm Payrolls
    Macroeconomic Analysis

    Non-Farm Payrolls Miss Estimates by a Large Margin

    In September, non-farm payrolls increased by 142,000, missing the Wall Street estimate of 200,000. Private payrolls increased by 118,000, while government jobs rose by 24,000.

    By Brent Nyitray, CFA, MBA
  • uploads///Housing starts
    Macroeconomic Analysis

    A Closer Look at the August 15 Drop in Housing Starts

    Housing starts fell from a downward-revised ~1.16 million to ~1.13 million in August 2015. This was below Wall Street estimates of just over 1.16 million.

    By Brent Nyitray, CFA, MBA
  • uploads///kbh pm
    Earnings Report

    Organic Growth Boosts KB Home’s Revenue

    KB Home (KBH) has a market cap of $1.34 billion. After the earnings report in 3Q15, KB Home rose by 1.04% to close at $14.60 per share.

    By Gabriel Kane
  • uploads///len pm
    Earnings Report

    New Homes Boost Lennar’s Performance

    Lennar (LEN) has a market cap of $10.36 billion. Lennar’s YTD (year-to-date) price movement has a mixed performance with ups and downs.

    By Gabriel Kane
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