Hovnanian Enterprises (NYSE:HOV) Issues FY 2024 Earnings Guidance

Hovnanian Enterprises (NYSE:HOVGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 25.000-29.000 for the period. The company issued revenue guidance of $2.8 billion-$3.0 billion. Hovnanian Enterprises also updated its Q3 2024 guidance to EPS.

Hovnanian Enterprises Stock Down 11.1 %

Shares of NYSE HOV traded down $18.83 during trading hours on Wednesday, hitting $150.27. The company had a trading volume of 57,054 shares, compared to its average volume of 76,396. The stock has a market capitalization of $916.65 million, a P/E ratio of 5.57 and a beta of 2.62. Hovnanian Enterprises has a 1-year low of $65.22 and a 1-year high of $184.42. The firm’s 50 day moving average is $151.38 and its 200-day moving average is $143.25. The company has a quick ratio of 0.86, a current ratio of 4.07 and a debt-to-equity ratio of 2.19.

Hovnanian Enterprises (NYSE:HOVGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 EPS for the quarter. The firm had revenue of $594.20 million during the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%.

Analysts Set New Price Targets

Several research firms have issued reports on HOV. StockNews.com lowered Hovnanian Enterprises from a buy rating to a hold rating in a research note on Sunday, March 3rd. Zelman & Associates reaffirmed an underperform rating on shares of Hovnanian Enterprises in a report on Friday, April 12th. Finally, TheStreet upgraded shares of Hovnanian Enterprises from a c+ rating to a b- rating in a report on Friday, February 16th.

View Our Latest Stock Report on HOV

Insider Activity

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the transaction, the chief executive officer now directly owns 51,475 shares of the company’s stock, valued at $8,123,784.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.67% of the stock is currently owned by company insiders.

Hovnanian Enterprises Company Profile

(Get Free Report)

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.

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