Hovnanian Enterprises (NYSE:HOV) Issues FY 2022 Earnings Guidance

Hovnanian Enterprises (NYSE:HOVGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $26.50-$32.00 for the period. The company issued revenue guidance of $2.80 billion-$3.00 billion.Hovnanian Enterprises also updated its Q3 2022 guidance to EPS.

HOV stock opened at $59.53 on Wednesday. The stock has a market capitalization of $374.44 million, a PE ratio of 2.33 and a beta of 2.43. Hovnanian Enterprises has a 52 week low of $40.00 and a 52 week high of $133.99. The company has a quick ratio of 0.18, a current ratio of 1.01 and a debt-to-equity ratio of 3.19. The firm has a 50 day moving average of $49.81 and a 200 day moving average of $81.30.

Separately, StockNews.com began coverage on Hovnanian Enterprises in a research report on Thursday, March 31st. They issued a hold rating on the stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Hovnanian Enterprises during the 1st quarter valued at about $329,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Hovnanian Enterprises during the 4th quarter worth about $328,000. Engineers Gate Manager LP grew its position in shares of Hovnanian Enterprises by 62.7% during the 1st quarter. Engineers Gate Manager LP now owns 5,378 shares of the construction company’s stock valued at $318,000 after acquiring an additional 2,072 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Hovnanian Enterprises during the 4th quarter valued at about $311,000. Finally, Bank of America Corp DE increased its stake in shares of Hovnanian Enterprises by 327.9% in the 2nd quarter. Bank of America Corp DE now owns 2,148 shares of the construction company’s stock valued at $228,000 after purchasing an additional 1,646 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

About Hovnanian Enterprises (Get Rating)

Hovnanian Enterprises, Inc engages in the design, construction, marketing, and sale of 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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