Hovnanian Enterprises (NYSE:HOV) Issues Earnings Results, Misses Expectations By $1.21 EPS

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Hovnanian Enterprises (NYSE:HOV) issued its quarterly earnings data on Thursday. The construction company reported ($1.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($1.21), Morningstar.com reports. The business had revenue of $482.04 million during the quarter. Hovnanian Enterprises had a net margin of 0.66% and a negative return on equity of 2.03%.

Shares of Hovnanian Enterprises stock traded down $0.12 during mid-day trading on Friday, hitting $10.40. 40,543 shares of the stock were exchanged, compared to its average volume of 162,625. Hovnanian Enterprises has a twelve month low of $5.15 and a twelve month high of $43.25. The stock has a market capitalization of $49.17 million, a price-to-earnings ratio of 13.87 and a beta of 1.62. The company has a 50-day simple moving average of $6.61 and a 200 day simple moving average of $8.10.

A number of equities research analysts recently commented on HOV shares. Zacks Investment Research cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday.

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of Hovnanian Enterprises during the 2nd quarter worth about $86,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Hovnanian Enterprises during the 2nd quarter worth about $95,000. Paloma Partners Management Co acquired a new stake in shares of Hovnanian Enterprises during the 2nd quarter worth about $164,000. GSA Capital Partners LLP acquired a new stake in shares of Hovnanian Enterprises during the 2nd quarter worth about $332,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Hovnanian Enterprises by 1,654.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 55,917 shares of the construction company’s stock worth $403,000 after purchasing an additional 52,730 shares during the last quarter. 23.21% of the stock is currently owned by institutional investors.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.

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Earnings History for Hovnanian Enterprises (NYSE:HOV)

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