DR Horton shares drop despite positive quarterly earnings

DR Horton (DHI) - The home builder reported quarterly profit of $ 1.72, which beat the estimate of $ 1.27. Quarterly Results Earnings per share rose 36.51%. Revenue also came in above analysts ’expectations, helped by what it called“ increased buyer urgency ”due to low mortgage rates and limited supply.

DR Horton (DHI.US) - The share price set an all-time high of $ 70.07 per share today. However, an upward move was halted there and the stock pulled back. Should downbeat moods prevail, local support at $ 61.81 per share may come into play. Source: xStation5

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