D.R. Horton is well positioned for another year of growth.
D.R. Horton closed out fiscal 2017 strong as consolidated fourth-quarter revenue increased 11% year over year to about $4.2 billion, beating the consensus estimate by $153 million, and growing diluted EPS just over 9% to $0.82 versus $0.81 consensus. Overall, the no-moat homebuilder had a great year; total delivered homes in 2017 increased 13.5% to 45,751 homes, full-year home sales gross margin remained flat at about 20%, and full-year diluted earnings grew 16% to $2.74. Given most homebuilders...D.R. Horton is a homebuilding company. The company's business operations consist of homebuilding, a majority-owned residential lot development company, financial services and other activities. The company's financial services operations provide mortgage financing and title agency services to homebuyers in its homebuilding markets. The company's subsidiary, DHI Mortgage, provides mortgage financing services primarily to its homebuyers and generally sells the mortgages it originates and the related servicing rights to third-party purchasers. The company's subsidiary title companies serve as title insurance agents by providing title insurance policies, examination and closing services, primarily to its homebuyers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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