Beazer Homes USA (NYSE:BZH) Releases Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Beazer Homes USA (NYSE:BZH) posted its quarterly earnings results on Thursday. The construction company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.41, Briefing.com reports. Beazer Homes USA had a net margin of 7.94% and a return on equity of 18.66%. The company had revenue of $645.40 million for the quarter, compared to analyst estimates of $627.29 million. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The company’s quarterly revenue was down 22.0% compared to the same quarter last year.

Beazer Homes USA Trading Down 2.2 %

NYSE:BZH opened at $29.58 on Friday. The firm has a market cap of $927.04 million, a P/E ratio of 4.90 and a beta of 2.33. Beazer Homes USA has a 12-month low of $12.29 and a 12-month high of $35.93. The stock’s 50 day simple moving average is $25.51 and its 200-day simple moving average is $25.86. The company has a current ratio of 15.28, a quick ratio of 2.55 and a debt-to-equity ratio of 0.94.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Beazer Homes USA by 5.8% in the 2nd quarter. BlackRock Inc. now owns 2,813,311 shares of the construction company’s stock valued at $79,589,000 after buying an additional 153,805 shares during the period. Vanguard Group Inc. grew its holdings in Beazer Homes USA by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,759,636 shares of the construction company’s stock valued at $26,782,000 after buying an additional 108,173 shares during the period. Apollo Management Holdings L.P. purchased a new stake in shares of Beazer Homes USA during the 1st quarter worth about $21,323,000. Dimensional Fund Advisors LP grew its holdings in shares of Beazer Homes USA by 15.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,081,091 shares of the construction company’s stock worth $17,166,000 after purchasing an additional 141,924 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Beazer Homes USA by 3.3% during the 4th quarter. Millennium Management LLC now owns 1,009,822 shares of the construction company’s stock worth $12,885,000 after purchasing an additional 31,809 shares during the period. Hedge funds and other institutional investors own 79.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BZH has been the subject of several research reports. Zelman & Associates upgraded shares of Beazer Homes USA from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Wedbush upgraded shares of Beazer Homes USA from a “neutral” rating to an “outperform” rating and set a $32.00 target price on the stock in a research note on Tuesday, October 10th. B. Riley lifted their price objective on shares of Beazer Homes USA from $28.00 to $38.00 in a research report on Friday, July 28th. StockNews.com initiated coverage on shares of Beazer Homes USA in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Sidoti raised shares of Beazer Homes USA from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Beazer Homes USA has an average rating of “Moderate Buy” and an average price target of $35.33.

About Beazer Homes USA

Beazer Homes USA, Inc operates as a homebuilder in the United States. It designs, constructs, and sells single-family and multi-family homes under the Beazer Homes, Gatherings, and Choice Plans names. The company sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Indiana, Delaware, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.