BidaskClub downgraded shares of Hovnanian Enterprises Inc (NYSE:HOV) from a sell rating to a strong sell rating in a research report report published on Saturday, August 5th.
Separately, JMP Securities reissued an underperform rating and set a $1.30 price target (down from $1.60) on shares of Hovnanian Enterprises in a report on Friday, April 14th.
Hovnanian Enterprises (HOV) traded down 2.88% on Friday, hitting $2.02. The company had a trading volume of 1,172,561 shares. The stock has a market capitalization of $297.68 million, a PE ratio of 20.20 and a beta of 1.69. Hovnanian Enterprises has a one year low of $1.52 and a one year high of $2.98. The stock has a 50 day moving average of $2.42 and a 200-day moving average of $2.36.
Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Friday, June 2nd. The construction company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by $0.01. The firm had revenue of $585.90 million for the quarter, compared to the consensus estimate of $558.55 million. Hovnanian Enterprises had a net margin of 0.56% and a negative return on equity of 8.20%. Hovnanian Enterprises’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. Equities analysts anticipate that Hovnanian Enterprises will post $0.05 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. boosted its position in Hovnanian Enterprises by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after buying an additional 969 shares during the last quarter. Nationwide Fund Advisors raised its stake in Hovnanian Enterprises by 2.4% in the first quarter. Nationwide Fund Advisors now owns 75,273 shares of the construction company’s stock valued at $171,000 after buying an additional 1,730 shares during the period. Stifel Financial Corp raised its stake in Hovnanian Enterprises by 5.5% in the second quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after buying an additional 1,975 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Hovnanian Enterprises by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 484,512 shares of the construction company’s stock valued at $1,357,000 after buying an additional 2,432 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in Hovnanian Enterprises by 5.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 79,855 shares of the construction company’s stock valued at $218,000 after buying an additional 3,830 shares during the period. 29.81% of the stock is currently owned by hedge funds and other institutional investors.
Hovnanian Enterprises Company Profile
Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.
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