Hovnanian Entrpr (NYSE: HOV) issued its quarterly earnings data on Wednesday. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.10) by $0.02. The company had revenue of $358.20 million for the quarter, compared to the consensus estimate of $381.11 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The company’s quarterly revenue was up 32.9% on a year-over-year basis.
A number of research firms have also recently commented on HOV. Analysts at Sidoti initiated coverage on shares of Hovnanian Entrpr in a research note to investors on Wednesday, February 20th. They set a “buy” rating and a $8.00 price target on the stock. On a related note, analysts at Zacks downgraded shares of Hovnanian Entrpr from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, February 13th. They now have a $6.90 price target on the stock. Finally, analysts at Compass Point upgraded shares of Hovnanian Entrpr from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday, January 29th. They now have a $5.50 price target on the stock, up previously from $3.50.
Shares of Hovnanian Entrpr (HOV) traded down 3.77% during mid-day trading on Wednesday, hitting $5.87. Hovnanian Entrpr (HOV) has a one year low of $1.52 and a one year high of $7.43. The stock’s 50-day moving average is currently $5.80. The company’s market cap is $789.5 million.
Hovnanian Enterprises, Inc. (Hovnanian) designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, mid-rise and high-rise condominiums, urban infill and active adult homes in planned residential developments.
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