Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>D.R. Horton's third-quarter 2024 earnings reflect the company's ability to navigate a complex market landscape impacted by inflation and raised mortgage interest rates.</li><li>Despite headwinds, the company managed a 5% increase in earnings, with a consolidated pretax income growth of 1% to $1.8 billion that could appeal to potential investors seeking steady performance.</li><li>A vital positive from the results lies in D.R. Horton's proven record of cash generation, producing $972 million from homebuilding operations within the first nine months ended June 30.</li></ul>

D.R. Horton's third-quarter 2024 earnings reflect the company's ability to navigate a complex market landscape impacted by inflation and raised mortgage interest rates.Despite headwinds, the company managed a 5% increase in earnings, with a consolidated pretax income growth of 1% to $1.8 billion that could appeal to potential investors seeking steady performance.A vital positive from the results lies in D.R. Horton's proven record of cash generation, producing $972 million from homebuilding operations within the first nine months ended June 30.

D.R. Horton Inc.: Efficient Land Development Strategy & Other Major Drivers

<ul><li>D.R. Horton, America's Builder, reported financial outcomes for the second quarter of fiscal 2024 indicating a positive trajectory in both revenue and profit generation.</li><li>Despite challenges related to elevated inflation and mortgage interest rates, the company has demonstrated solid performance with an earnings increase to $3.52 per diluted share, from $2.73 in the prior-year quarter.</li><li>Consolidated revenue increased by 14%, reaching $9.1 billion; and home sales revenue surged by 14% to approximately $8.5 billion on 22,548 home closings.</li></ul>

D.R. Horton, America's Builder, reported financial outcomes for the second quarter of fiscal 2024 indicating a positive trajectory in both revenue and profit generation.Despite challenges related to elevated inflation and mortgage interest rates, the company has demonstrated solid performance with an earnings increase to $3.52 per diluted share, from $2.73 in the prior-year quarter.Consolidated revenue increased by 14%, reaching $9.1 billion; and home sales revenue surged by 14% to approximately $8.5 billion on 22,548 home closings.

D.R. Horton Inc.: A Tale Of Dealing With Interest Rate Fluctuations and Market Adaptability! - Major Drivers

<ul><li>D.R. Horton, the largest builder in the United States, presented its strong results from the second quarter of fiscal 2024, with its earnings per diluted share summing to $3.52.</li><li>The company managed to increase its consolidated pretax income to $1.5 billion, a 23% increase and basis for a reported 14% increase in revenues, amounting to $9.1 billion.</li><li>The pretax profit margin came in at 16.8%.</li></ul>

D.R. Horton, the largest builder in the United States, presented its strong results from the second quarter of fiscal 2024, with its earnings per diluted share summing to $3.52.The company managed to increase its consolidated pretax income to $1.5 billion, a 23% increase and basis for a reported 14% increase in revenues, amounting to $9.1 billion.The pretax profit margin came in at 16.8%.

D.R. Horton: Effective Use of Land Resources & 4 Critical Growth Drivers! - Financial Forecasts

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points (25-day EMA).</li><li>TISCO reported a net profit of Bt1,733mn, lower than projection of the Bloomberg consensus and down 3.3% YoY and 2.6% QoQ due to the slowdown in non-interest income and higher funding costs.</li><li>We recommend stocks with positive news: SAPPE, ICHI, and TKN.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points (25-day EMA).TISCO reported a net profit of Bt1,733mn, lower than projection of the Bloomberg consensus and down 3.3% YoY and 2.6% QoQ due to the slowdown in non-interest income and higher funding costs.We recommend stocks with positive news: SAPPE, ICHI, and TKN.

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>D.R. Horton is a leading homebuilder with high returns on equity and strong balance sheets, yet trades at a low price-to-earnings ratio.</li><li>The company has shifted to being asset-light, generating significant free cash flow and maintaining a strong balance sheet.</li><li>With a focus on market share expansion and efficiency, D.R. Horton is positioned as a growth company in a stable industry.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

D.R. Horton is a leading homebuilder with high returns on equity and strong balance sheets, yet trades at a low price-to-earnings ratio.The company has shifted to being asset-light, generating significant free cash flow and maintaining a strong balance sheet.With a focus on market share expansion and efficiency, D.R. Horton is positioned as a growth company in a stable industry.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

D.R. Horton (DHI) - Wednesday, Jan 3, 2024

United States

D.R. Horton, Inc. constructs and sells single-family homes designed primarily for the entry-level and move-up markets.  The Company operates in the Midwest, Mid-Atlantic, Southeast, Southwest, and Western regions of the United States. D.R. Horton also, through its financial services operations, provide mortgage financing and title agency services to homebuyers.

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Dr Horton Inc (DHI US)

D.R. Horton Inc.: Efficient Land Development Strategy & Other Major Drivers

D.R. Horton's third-quarter 2024 earnings reflect the company's ability to navigate a complex market landscape impacted by inflation and raised...

Baptista Research

D.R. Horton Inc.: A Tale Of Dealing With Interest Rate Fluctuations and Market Adaptability! - Major Drivers

D.R. Horton, America's Builder, reported financial outcomes for the second quarter of fiscal 2024 indicating a positive trajectory in both revenue...

Baptista Research

D.R. Horton: Effective Use of Land Resources & 4 Critical Growth Drivers! - Financial Forecasts

D.R. Horton, the largest builder in the United States, presented its strong results from the second quarter of fiscal 2024, with its earnings per...

Baptista Research

1Q24E Corporate Earnings

Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points...

Krungthai XSpring

D.R. Horton (DHI) - Wednesday, Jan 3, 2024

D.R. Horton is a leading homebuilder with high returns on equity and strong balance sheets, yet trades at a low price-to-earnings ratio.

Value Investors Club (VIC)

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