Hovnanian Enterprises (HOV) Scheduled to Post Earnings on Wednesday

Hovnanian Enterprises (NYSE:HOV – Get Rating) is set to announce its earnings results before the market opens on Wednesday, May 31st. Hovnanian Enterprises has set its Q2 2023 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Hovnanian Enterprises (NYSE:HOV – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The construction company reported $2.26 earnings per share for the quarter. The company had revenue of $515.37 million for the quarter. Hovnanian Enterprises had a net margin of 7.64% and a return on equity of 112.54%.

Hovnanian Enterprises Stock Down 1.1 %

Shares of Hovnanian Enterprises stock opened at $89.65 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. Hovnanian Enterprises has a twelve month low of $33.20 and a twelve month high of $92.62. The company has a market cap of $537.90 million, a price-to-earnings ratio of 3.12 and a beta of 2.47. The company’s 50 day moving average is $71.68 and its 200 day moving average is $59.74.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Hovnanian Enterprises in a research report on Thursday, May 18th. They issued a “hold” rating on the stock.

Insider Transactions at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 10,000 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $66.62, for a total value of $666,200.00. Following the completion of the sale, the director now directly owns 36,257 shares of the company’s stock, valued at $2,415,441.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 20.31% of the company’s stock.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Putnam Investments LLC purchased a new position in Hovnanian Enterprises during the first quarter valued at $533,000. Jane Street Group LLC purchased a new position in Hovnanian Enterprises during the first quarter valued at $658,000. State Street Corp grew its stake in Hovnanian Enterprises by 2.5% during the first quarter. State Street Corp now owns 93,389 shares of the construction company’s stock valued at $6,336,000 after acquiring an additional 2,294 shares in the last quarter. Geode Capital Management LLC grew its stake in Hovnanian Enterprises by 1.1% during the first quarter. Geode Capital Management LLC now owns 90,062 shares of the construction company’s stock valued at $6,110,000 after acquiring an additional 997 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Hovnanian Enterprises by 16.4% during the first quarter. AQR Capital Management LLC now owns 36,395 shares of the construction company’s stock valued at $2,469,000 after acquiring an additional 5,138 shares in the last quarter. 44.59% of the stock is owned by hedge funds and other institutional investors.

About Hovnanian Enterprises

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Hovnanian Enterprises, Inc is a homebuilding company, which engages in the design, construction, and marketing of single-family attached town homes, attached townhomes and condominiums, urban infill, and lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West.