D.R. Horton, Inc. (NYSE:DHI) shares are rising on Wednesday. Shares of homebuilders are trading higher in sympathy with Meritage Homes (NYSE:MTH), which reported better-than-expected third-quarter results.
What To Know: Meritage posted third-quarter earnings results after hours on Tuesday. The company reported quarterly earnings of $5.98 per share which beat the analyst consensus estimate of $5.14, a 15.77% decrease over earnings of $7.10 per share from the same period last year.
The company reported quarterly sales of $1.61 billion which beat the analyst consensus estimate of $1.57 billion, a 2.22% increase over sales of $1.58 billion from the same period last year.
D.R. Horton is set to report fourth-quarter results on Nov. 7. The company is estimated to report earnings of $3.93 per share and revenue of $10.01 billion.
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DHI Price Action: Shares of DHI were up 4.45% at $109.05 at the time of publication, according to Benzinga Pro.
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