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3 Homebuilding Stocks Fall After D.R. Horton's Q3 Report

D.R. Horton's dismal quarterly results and 2025 guidance are weighing on the sector

Deputy Editor
Oct 29, 2024 at 1:30 PM
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The homebuilding sector is facing pressure today, after D.R. Horton (DHI) reported lackluster fiscal fourth-quarter results and issued worse-than-expected 2025 guidance. As a result, DHI is heading for its worst day since March 2020, and sector peers Lennar Corp Class A (NYSE:LEN)KB Home (NYSE:KBH), and PulteGroup, Inc. (NYSE:PHM).

Lennar stock was one of the worst stocks trading on the S&P 500 Index (SPX) this afternoon, though its pared some losses to trade 3.5% lower at $168.06, at last glance. While today's pullback was kept in check by the $160 level, LEN is still trading at its lowest mark since July. For the quarter, the security is now down 10.6%, but boasts a 12.5% year-to-date lead.

At last glance, KB Home stock was down 3.2% at $77.45, earlier trading as low as $74 -- its lowest level since early August. On track for their third loss in five sessions, shares are at risk of closing below their 120-day moving average for just the second time since July. The equity sports a 9.4% quarter-to-date deficit.

PulteGroup stock was off by 3.6%, last seen trading at $129. Today's dip to the $122 level marks PHM's lowest clip since late-August. The $122 area acted as both resistance and support in August. On the charts, the equity is trading below its 80-day moving average for the first time since early July, and is down 10.2% for the quarter.

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