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D.R. Horton, PulteGroup, Meritage Homes, KB Home and M/I Homes have been highlighted in this Industry Outlook article.
D.R. Horton's (DHI) fiscal third-quarter results are likely to reflect the weakness of Forestar and Rental Property segments along with higher expenses.
Although higher rates and a rise in land/labor costs pose risks, the lack of existing homes for sale and better operating leverage are likely to drive the Zacks Building Products - Home Builders industry. DHI, PHM, MTH, KBH and MHO are well-positioned to gain.
The stock market breathed a sigh of relief last week when June's inflation numbers came out. The Consumer Price Index fell 0.1% for the month, the first time inflation fell in four years.
The June CPI was much better than expected and has the broad market set up to rally over the next six to 12 months. The rally is driven by the expectation for FOMC interest rate cuts, which will reduce the cost of money and reinvigorate the bull market, assuming no recession unfolds.
We have narrowed our search to five homebuilders' stocks. These are: KBH, NVR, PHM, TOL, DHI.
The housing market has faced headwinds in recent times, primarily due to the impact of rising interest rates. This surge in borrowing costs has slowed down homebuying activity, leading to a decline in homebuilder stock prices.
Homebuilder stocks jumped Thursday on hopes that mortgage rates will start to significantly downshift this year.
D.R. Horton (DHI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.