Howard Hughes Corporation (The) (NYSE:HHC) Posts Earnings Results, Misses Expectations By $0.80 EPS

Howard Hughes Corporation (The) (NYSE:HHC) issued its quarterly earnings results on Monday, August 7th. The financial services provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.80, Morningstar.com reports. The firm had revenue of $308.60 million during the quarter, compared to analysts’ expectations of $217.47 million. Howard Hughes Corporation (The) had a net margin of 5.69% and a return on equity of 4.80%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS.

Howard Hughes Corporation (NYSE:HHC) opened at 117.94 on Friday. The firm has a 50-day moving average of $122.40 and a 200 day moving average of $120.91. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 84.12 and a beta of 1.42. Howard Hughes Corporation has a 1-year low of $101.20 and a 1-year high of $131.39.

In other Howard Hughes Corporation (The) news, EVP Christopher John Curry sold 30,000 shares of Howard Hughes Corporation (The) stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $126.62, for a total value of $3,798,600.00. Following the transaction, the executive vice president now owns 42,935 shares of the company’s stock, valued at $5,436,429.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 20.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WFG Advisors LP raised its position in shares of Howard Hughes Corporation (The) by 157.1% in the second quarter. WFG Advisors LP now owns 2,867 shares of the financial services provider’s stock worth $352,000 after buying an additional 1,752 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Howard Hughes Corporation (The) by 9.6% in the second quarter. Public Employees Retirement System of Ohio now owns 68,677 shares of the financial services provider’s stock worth $8,436,000 after buying an additional 6,024 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Howard Hughes Corporation (The) during the second quarter worth approximately $313,000. Nomura Holdings Inc. raised its stake in shares of Howard Hughes Corporation (The) by 0.3% in the second quarter. Nomura Holdings Inc. now owns 1,505,002 shares of the financial services provider’s stock worth $184,708,000 after buying an additional 4,000 shares in the last quarter. Finally, Caledonia Private Investments Pty Ltd raised its stake in shares of Howard Hughes Corporation (The) by 296.7% in the second quarter. Caledonia Private Investments Pty Ltd now owns 1,000,257 shares of the financial services provider’s stock worth $122,872,000 after buying an additional 748,116 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

HHC has been the subject of several research analyst reports. BidaskClub downgraded shares of Howard Hughes Corporation (The) from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. BWS Financial initiated coverage on shares of Howard Hughes Corporation (The) in a research report on Thursday, June 8th. They issued a “buy” rating and a $150.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Howard Hughes Corporation (The) from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $144.33.

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Howard Hughes Corporation (The) Company Profile

The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in the ownership, management and the redevelopment or repositioning of real estate assets, as well as other real estate opportunities in the form of entitled and unentitled land and other development rights, also called Strategic Developments.

Earnings History for Howard Hughes Corporation (The) (NYSE:HHC)

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