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

Hovnanian Enterprises (NYSE:HOVGet Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (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 Trading Up 3.6 %

Shares of Hovnanian Enterprises stock opened at $153.94 on Thursday. The stock has a market capitalization of $939.03 million, a P/E ratio of 5.54 and a beta of 2.62. Hovnanian Enterprises has a 52-week low of $65.22 and a 52-week high of $184.42. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07. The stock’s 50-day simple moving average is $151.42 and its 200 day simple moving average is $143.28.

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

Wall Street Analysts Forecast Growth

HOV has been the subject of several research analyst reports. TheStreet upgraded shares of Hovnanian Enterprises from a c+ rating to a b- rating in a research report on Friday, February 16th. StockNews.com downgraded Hovnanian Enterprises from a buy rating to a hold rating in a research report on Sunday, March 3rd. Finally, Zelman & Associates restated an underperform rating on shares of Hovnanian Enterprises in a report on Friday, April 12th.

Read Our Latest Analysis on Hovnanian Enterprises

Insider Activity at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 51,475 shares in the company, valued at approximately $8,123,784.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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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