Why D.R. Horton Stock Was Sliding This Week
Shares of D.R. Horton (NYSE: DHI), the nation's biggest homebuilder, were falling this week after the company posted disappointing estimates in its fiscal first-quarter earnings report.
The news comes after homebuilder stocks like D.R. Horton have seen a dramatic increase in profits over the last year or two due to a shortage of available housing and an unwillingness of homeowners to sell and lose their low-priced mortgages, creating demand for new homes.
However, the company missed estimates on the bottom line in its earnings report, and decelerating revenue growth also seemed to spook the market. As a result, the stock was down 8.8% for the week, according to data from S&P Global Market Intelligence.
Source Fool.com
