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

Hovnanian Enterprises (NYSE:HOV) 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HOV. Zelman & Associates raised Hovnanian Enterprises from an underperform rating to a neutral rating and set a $155.00 price objective on the stock in a research report on Thursday. StockNews.com cut Hovnanian Enterprises from a buy rating to a hold rating in a research report on Sunday, March 3rd. Finally, TheStreet raised Hovnanian Enterprises from a c+ rating to a b- rating in a research note on Friday, February 16th.

Hovnanian Enterprises Trading Down 1.4 %

Hovnanian Enterprises stock opened at $139.57 on Friday. The stock has a 50-day moving average of $151.66 and a two-hundred day moving average of $143.69. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07. Hovnanian Enterprises has a one year low of $65.22 and a one year high of $184.42. The stock has a market cap of $851.38 million, a PE ratio of 4.65 and a beta of 2.62.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share for the quarter. The company had revenue of $594.20 million during the quarter. Hovnanian Enterprises had a return on equity of 57.78% and a net margin of 8.02%. On average, research analysts anticipate that Hovnanian Enterprises will post 27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total transaction of $157,820.00. Following the completion of the transaction, the chief executive officer now directly owns 51,475 shares of the company’s stock, 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 insiders.

Hovnanian Enterprises Company Profile

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.