FY2027 Earnings Forecast for HOV Issued By Wedbush

Hovnanian Enterprises Inc (NYSE:HOV) – Equities researchers at Wedbush issued their FY2027 earnings per share estimates for shares of Hovnanian Enterprises in a note issued to investors on Monday, August 18th. Wedbush analyst J. Mccanless expects that the construction company will post earnings per share of $9.60 for the year. Wedbush has a “Neutral” rating and a $120.00 price target on the stock.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a return on equity of 33.18% and a net margin of 7.03%.The company had revenue of $686.47 million for the quarter, compared to the consensus estimate of $733.20 million. The business’s revenue for the quarter was down 3.1% on a year-over-year basis.

Separately, Wall Street Zen lowered Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $120.00.

Hovnanian Enterprises Price Performance

HOV opened at $155.6760 on Tuesday. The stock’s 50 day simple moving average is $118.05 and its 200 day simple moving average is $109.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.28. Hovnanian Enterprises has a 1 year low of $81.15 and a 1 year high of $240.34. The firm has a market cap of $921.60 million, a price-to-earnings ratio of 5.45 and a beta of 2.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HOV. Cerity Partners LLC lifted its stake in shares of Hovnanian Enterprises by 60.9% in the 4th quarter. Cerity Partners LLC now owns 4,223 shares of the construction company’s stock valued at $572,000 after purchasing an additional 1,599 shares during the period. Legal & General Group Plc lifted its stake in shares of Hovnanian Enterprises by 5.5% in the 4th quarter. Legal & General Group Plc now owns 5,045 shares of the construction company’s stock valued at $675,000 after purchasing an additional 265 shares during the period. Barclays PLC lifted its stake in shares of Hovnanian Enterprises by 12.5% in the 4th quarter. Barclays PLC now owns 9,306 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 1,032 shares during the period. XTX Topco Ltd purchased a new position in shares of Hovnanian Enterprises in the 4th quarter valued at approximately $514,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Hovnanian Enterprises in the 4th quarter valued at approximately $883,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Insider Activity at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $107.12, for a total value of $589,160.00. Following the completion of the transaction, the director owned 5,338 shares in the company, valued at $571,806.56. This trade represents a 50.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.77% of the stock is currently owned by insiders.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.