Howard Hughes (NYSE:HHC) announced its quarterly earnings results on Monday. The financial services provider reported $3.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $3.19, Bloomberg Earnings reports. The company had revenue of $300.98 million for the quarter, compared to analyst estimates of $239.83 million. Howard Hughes had a net margin of 5.83% and a return on equity of 3.27%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share.
Howard Hughes (HHC) opened at $122.51 on Tuesday. The company has a market cap of $5,300.00, a P/E ratio of 83.34 and a beta of 1.37. Howard Hughes has a one year low of $113.64 and a one year high of $133.08. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.99.
Separately, Zacks Investment Research lowered shares of Howard Hughes from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th.
A hedge fund recently raised its stake in Howard Hughes stock. The Manufacturers Life Insurance Company grew its position in Howard Hughes Corp (NYSE:HHC) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,212 shares of the financial services provider’s stock after acquiring an additional 81 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Howard Hughes were worth $149,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 84.87% of the company’s stock.
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About Howard Hughes
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.
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