Breaking News

Over a month ago
Show Full Stories

X

To view all stories in expanded form, please subscribe.
Send Info
Hot Stocks
Hovnanian reports Q4 EPS $7.24 vs. $7.41 last year » 09:23
12/08/22
12/08
09:23
12/08/22
09:23
HOV

Hovnanian

$47.86 /

+0.17 (+0.36%)

Reports Q4 revenue…

Reports Q4 revenue $886.8M vs. $814.3M last year. "We are pleased with the strong performance for our fourth quarter and fiscal year. We exceeded our full year guidance for adjusted pretax income and adjusted EBITDA. Our strong performance in fiscal 2022 was partially the result of deliveries which were contracted during a time when demand for new homes was much stronger than it is today," stated Ara Hovnanian, CEO. "The current level of demand for new homes is significantly lower and continues to be burdened by high levels of inflation, a sharp increase in mortgage rates and concerns about an economic recession. Given the strong margins in our large fourth quarter backlog and to minimize any potential disruption to those deliveries and margins, we were not aggressive with concessions on new contracts during the fourth quarter. Additionally, to eliminate the risk of further mortgage rate increases, consumers are seeking homes where they can close quickly. In response to that demand, we ended the year with 5.6 quick move in homes per community, compared to 3.2 at the end of the third quarter and our long-term average of 4.4 quick move in homes per community. Therefore, we felt it was prudent to postpone larger incentives until the increased level of quick move in homes we started during the third and fourth quarter were closer to being completed. Now that the fourth quarter is behind us and because of the progress we have made on constructing additional quick move in homes, we are now becoming more aggressive in our attempts to find the market price that will spur demand in each of our markets.During a period of declining housing demand, it is important that we focus on preserving liquidity. We ended our fiscal year with $457 million of liquidity, significantly above the $245 million high end of our target range. We remain committed to strengthening our balance sheet and intend to revisit our debt retirement initiatives once market conditions improve. Despite the near-term uncertainty in the housing market, we believe that the long-term fundamentals remain intact and as the economy and mortgage market reach stability, it should lead to a more robust housing market that returns sales pace per community to more normalized levels," concluded Mr. Hovnanian.

ShowHide Related Items >><<
HOV Hovnanian
$47.86 /

+0.17 (+0.36%)

Over a quarter ago
Earnings
Hovnanian sees 2022 EPS $32.00-$33.50 per share » 09:21
09/01/22
09/01
09:21
09/01/22
09:21
HOV

Hovnanian

$39.99 /

-1.14 (-2.77%)

For fiscal 2022, total…

For fiscal 2022, total revenues are expected to be between $2.80 billion and $3.00 billion, gross margin, before cost of sales interest expense and land charges, is expected to be between 24.0% and 26.0%, adjusted pretax income is expected to be between $310 million and $325 million, adjusted EBITDA is expected to be between $460 million and $475 million and fully diluted earnings per share is expected to be between $32.00 and $33.50. At the midpoint of our guidance, we anticipate our shareholders' equity to increase year-over-year by approximately 120% at October 31, 2022.

ShowHide Related Items >><<
HOV Hovnanian
$39.99 /

-1.14 (-2.77%)

HOV Hovnanian
$39.99 /

-1.14 (-2.77%)

HOV Hovnanian
$39.99 /

-1.14 (-2.77%)

Earnings
Hovnanian reports Q3 EPS $10.82 vs. $6.72 last year » 09:20
09/01/22
09/01
09:20
09/01/22
09:20
HOV

Hovnanian

$39.99 /

-1.14 (-2.77%)

Reports Q3 revenue…

Reports Q3 revenue $767.6M vs. $690.7M last year. Consolidated contracts per community were 7.4 for the third quarter ended July 31, 2022 compared to 11.6 contracts per community in last year's third quarter. As of the end of the third quarter of fiscal 2022, consolidated community count increased to 108 communities, compared with 104 communities on July 31, 2021.

ShowHide Related Items >><<
HOV Hovnanian
$39.99 /

-1.14 (-2.77%)

HOV Hovnanian
$39.99 /

-1.14 (-2.77%)

HOV Hovnanian
$39.99 /

-1.14 (-2.77%)

Hot Stocks
Hovnanian rises 12.9% » 12:00
06/01/22
06/01
12:00
06/01/22
12:00
HOV

Hovnanian

$57.57 /

+5.82 (+11.25%)

Hovnanian is up 12.9%, or…

Hovnanian is up 12.9%, or $6.61 to $57.80.

ShowHide Related Items >><<
HOV Hovnanian
$57.57 /

+5.82 (+11.25%)

HOV Hovnanian
$57.57 /

+5.82 (+11.25%)

HOV Hovnanian
$57.57 /

+5.82 (+11.25%)

HOV Hovnanian
$57.57 /

+5.82 (+11.25%)

Earnings
Hovnanian reaffirms FY22 revenue guidance $2.8B-$3B » 09:23
06/01/22
06/01
09:23
06/01/22
09:23
HOV

Hovnanian

$51.29 /

+0.89 (+1.77%)

For fiscal 2022, total…

For fiscal 2022, total revenues are expected to be between $2.80 billion and $3.00 billion, gross margin, before cost of sales interest expense and land charges, is expected to be between 23.5% and 25.5%, adjusted pretax income is expected to be between $260 million and $310 million, adjusted EBITDA is expected to be between $410 million and $460 million and fully diluted earnings per share is expected to be between $26.50 and $32.00. At the midpoint of our guidance, we anticipate our shareholders' equity to increase by approximately 105% by October 31, 2022.

ShowHide Related Items >><<
HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

Earnings
Hovnanian sees Q3 revenue $780M-$830M » 09:23
06/01/22
06/01
09:23
06/01/22
09:23
HOV

Hovnanian

$51.29 /

+0.89 (+1.77%)

For the third quarter of…

For the third quarter of fiscal 2022, total revenues are expected to be between $780 million and $830 million, gross margin, before cost of sales interest expense and land charges, is expected to be between 24.0% and 26.0% and adjusted pretax income is expected to be between $70 million and $85 million.

ShowHide Related Items >><<
HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

Earnings
Hovnanian reports Q2 EPS $8.39 vs $69.65 last year » 09:23
06/01/22
06/01
09:23
06/01/22
09:23
HOV

Hovnanian

$51.29 /

+0.89 (+1.77%)

Reports Q2 revenue…

Reports Q2 revenue $702.537M vs $703.162M last year. "Despite continued challenges due to supply chain disruptions, labor tightness, increasing mortgage rates and permitting/inspection delays, we are pleased our adjusted pretax income increased 184% year over year and was above the high end of our guidance range. We also reduced our senior secured notes by an additional $100 million during the second quarter of fiscal 2022," stated Ara Hovnanian, Chairman of the Board, President and Chief Executive Officer. "New homes sales face a persistent headwind from rising mortgage rates, increasing home prices and fears of a recession. Despite those concerns, demand for our homes throughout the second quarter of fiscal 2022 remained strong. During the second quarter of 2022 our contracts per community were 15.0, which was above the pre-Covid 2019 second quarter pace of 10.5 and the normal historical average second quarter pace of 13.5 contracts per community."

ShowHide Related Items >><<
HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

HOV Hovnanian
$51.29 /

+0.89 (+1.77%)

Periodicals
Mortgage rates spike to 5% amid post-pandemic price pressures, NY Times says » 16:56
04/14/22
04/14
16:56
04/14/22
16:56
DHI

D.R. Horton

$72.54 /

-1.505 (-2.03%)

, HOV

Hovnanian

$50.41 /

-2.23 (-4.24%)

, KBH

KB Home

$33.21 /

+0.04 (+0.12%)

, LEN

Lennar

$76.74 /

-1.21 (-1.55%)

, MDC

M.D.C. Holdings

$36.44 /

-0.57 (-1.54%)

, PHM

PulteGroup

$42.22 /

-0.415 (-0.97%)

, TOL

Toll Brothers

$46.18 /

-0.92 (-1.95%)

, BZH

Beazer Homes

$14.91 /

-0.33 (-2.17%)

, CAA

CalAtlantic

$53.37 /

+ (+0.00%)

, RLGY

Changed to HOUS

$13.33 /

-0.26 (-1.91%)

, Z

Zillow

$48.43 /

-0.36 (-0.74%)

, RMAX

RE/MAX Holdings

$26.39 /

+0.16 (+0.61%)

, RDFN

Redfin

$14.57 /

-0.65 (-4.27%)

Home buyers in this post…

Home buyers in this post pandemic world of inflated prices and supply chain disruptions are now facing the specter of mortgage rates at 5%, "for the first time in over a decade," wrote Conor Dougherty for the NY Times. U.S sponsored mortgage company, Freddie Mac, reported that rates on a 30-year fixed-rate mortgage "climbed from about 3 percent to 5 percent, the fastest jump since the 1980s," noted the NYT story. "On Thursday, Redfin said its index of home buyer demand had declined 3% over the past month," said the NYT. Publicly traded companies that may be impacted include: include Beazer Homes (BZH), CalAtlantic (CAA), D.R. Horton (DHI), Hovnanian (HOV), KB Home (KBH), Lennar (LEN), M.D.C. Holdings (MDC), PulteGroup (PHM) , Toll Brothers (TOL), Realogy (RLGY), Zillow (Z), RE/MAX Holdings (RMAX) and Redfin (RDFN). Reference Link

ShowHide Related Items >><<
Z Zillow
$48.43 /

-0.36 (-0.74%)

TOL Toll Brothers
$46.18 /

-0.92 (-1.95%)

RMAX RE/MAX Holdings
$26.39 /

+0.16 (+0.61%)

RLGY Changed to HOUS
$13.33 /

-0.26 (-1.91%)

RDFN Redfin
$14.57 /

-0.65 (-4.27%)

PHM PulteGroup
$42.22 /

-0.415 (-0.97%)

MDC M.D.C. Holdings
$36.44 /

-0.57 (-1.54%)

LEN Lennar
$76.74 /

-1.21 (-1.55%)

KBH KB Home
$33.21 /

+0.04 (+0.12%)

HOV Hovnanian
$50.41 /

-2.23 (-4.24%)

DHI D.R. Horton
$72.54 /

-1.505 (-2.03%)

BZH Beazer Homes
$14.91 /

-0.33 (-2.17%)

DHI D.R. Horton
$72.54 /

-1.505 (-2.03%)

04/13/22 JPMorgan
D.R. Horton price target lowered to $82.50 from $100 at JPMorgan
04/05/22 Credit Suisse
D.R. Horton initiated with a Neutral at Credit Suisse
03/31/22 Barclays
D.R. Horton price target lowered to $104 from $125 at Barclays
03/25/22 Citi
D.R. Horton price target lowered to $97 from $108 at Citi
HOV Hovnanian
$50.41 /

-2.23 (-4.24%)

KBH KB Home
$33.21 /

+0.04 (+0.12%)

04/13/22 JPMorgan
KB Home price target lowered to $39 from $49 at JPMorgan
04/05/22 Credit Suisse
KB Home initiated with an Outperform at Credit Suisse
03/31/22 Barclays
KB Home price target lowered to $47 from $50 at Barclays
03/28/22 Wolfe Research
KB Home downgraded to Peer Perform at Wolfe Research after confidence 'wavered'
LEN Lennar
$76.74 /

-1.21 (-1.55%)

04/13/22 JPMorgan
Lennar price target lowered to $89 from $108 at JPMorgan
04/05/22 Credit Suisse
Lennar initiated with a Neutral at Credit Suisse
03/31/22 Barclays
Lennar price target lowered to $93 from $110 at Barclays
03/18/22 UBS
Lennar price target raised to $154 from $145 at UBS
MDC M.D.C. Holdings
$36.44 /

-0.57 (-1.54%)

04/13/22 JPMorgan
M.D.C. Holdings price target lowered to $39 from $49 at JPMorgan
03/10/22 JPMorgan
M.D.C. Holdings price target lowered to $49 from $66 at JPMorgan
02/02/22 Wedbush
M.D.C. Holdings price target lowered to $56 from $63 at Wedbush
10/14/21 JPMorgan
M.D.C. Holdings downgraded to Neutral with $66 target at JPMorgan
PHM PulteGroup
$42.22 /

-0.415 (-0.97%)

04/13/22 JPMorgan
PulteGroup price target lowered to $48 from $57 at JPMorgan
04/05/22 Credit Suisse
PulteGroup initiated with an Outperform at Credit Suisse
03/31/22 Barclays
PulteGroup downgraded to Equal Weight from Overweight at Barclays
03/25/22 Citi
PulteGroup price target lowered to $55 from $62 at Citi
TOL Toll Brothers
$46.18 /

-0.92 (-1.95%)

04/13/22 JPMorgan
Toll Brothers price target lowered to $51 from $58 at JPMorgan
04/05/22 Credit Suisse
Toll Brothers initiated with an Outperform at Credit Suisse
03/31/22 Barclays
Toll Brothers price target lowered to $47 from $61 at Barclays
03/25/22 Citi
Toll Brothers price target lowered to $52 from $62 at Citi
BZH Beazer Homes
$14.91 /

-0.33 (-2.17%)

11/11/21 Zelman
Beazer Homes upgraded to Hold from Sell at Zelman
08/19/21 Janney Montgomery Scott
Beazer Homes initiated with a Buy at Janney Montgomery Scott
CAA CalAtlantic
$53.37 /

+ (+0.00%)

RLGY Changed to HOUS
$13.33 /

-0.26 (-1.91%)

02/22/22 Barclays
Realogy price target raised to $19 from $17 at Barclays
12/20/21 JPMorgan
Realogy upgraded ton positive housing backdrop at JPMorgan
12/20/21 JPMorgan
Realogy upgraded to Overweight from Neutral at JPMorgan
08/31/21 Keefe Bruyette
Realogy upgraded to Outperform from Market Perform at Keefe Bruyette
Z Zillow
$48.43 /

-0.36 (-0.74%)

03/30/22 Goldman Sachs
Zillow Group initiated with a Neutral at Goldman Sachs
03/17/22 Piper Sandler
Zillow Group price target lowered to $57 from $64 at Piper Sandler
03/04/22 Barclays
Zillow Group price target lowered to $50 from $72 at Barclays
02/18/22 Piper Sandler
Low inventory may be issue for Redin, Zillow, says Piper Sandler
RMAX RE/MAX Holdings
$26.39 /

+0.16 (+0.61%)

03/02/22 JonesResearch
RE/MAX Holdings initiated with a Buy at JonesTrading
02/28/22 Keefe Bruyette
RE/MAX Holdings price target lowered to $35 from $37 at Keefe Bruyette
09/22/21 Morgan Stanley
RE/MAX Holdings downgraded to Equal Weight from Overweight at Morgan Stanley
07/21/21 Berenberg
RE/MAX Holdings initiated with a Buy at Berenberg
RDFN Redfin
$14.57 /

-0.65 (-4.27%)

03/30/22 Goldman Sachs
Redfin initiated with a Neutral at Goldman Sachs
02/18/22 Stephens
Stephens downgrades Redfin to Equal Weight, awaits better re-entry point
02/18/22 Stephens
Redfin downgraded to Equal Weight from Overweight at Stephens
Z Zillow
$48.43 /

-0.36 (-0.74%)

TOL Toll Brothers
$46.18 /

-0.92 (-1.95%)

RMAX RE/MAX Holdings
$26.39 /

+0.16 (+0.61%)

RLGY Changed to HOUS
$13.33 /

-0.26 (-1.91%)

RDFN Redfin
$14.57 /

-0.65 (-4.27%)

PHM PulteGroup
$42.22 /

-0.415 (-0.97%)

MDC M.D.C. Holdings
$36.44 /

-0.57 (-1.54%)

LEN Lennar
$76.74 /

-1.21 (-1.55%)

KBH KB Home
$33.21 /

+0.04 (+0.12%)

HOV Hovnanian
$50.41 /

-2.23 (-4.24%)

DHI D.R. Horton
$72.54 /

-1.505 (-2.03%)

BZH Beazer Homes
$14.91 /

-0.33 (-2.17%)

Z Zillow
$48.43 /

-0.36 (-0.74%)

LEN Lennar
$76.74 /

-1.21 (-1.55%)

Z Zillow
$48.43 /

-0.36 (-0.74%)

TOL Toll Brothers
$46.18 /

-0.92 (-1.95%)

RMAX RE/MAX Holdings
$26.39 /

+0.16 (+0.61%)

RLGY Changed to HOUS
$13.33 /

-0.26 (-1.91%)

RDFN Redfin
$14.57 /

-0.65 (-4.27%)

PHM PulteGroup
$42.22 /

-0.415 (-0.97%)

LEN Lennar
$76.74 /

-1.21 (-1.55%)

KBH KB Home
$33.21 /

+0.04 (+0.12%)

HOV Hovnanian
$50.41 /

-2.23 (-4.24%)

DHI D.R. Horton
$72.54 /

-1.505 (-2.03%)

BZH Beazer Homes
$14.91 /

-0.33 (-2.17%)

Z Zillow
$48.43 /

-0.36 (-0.74%)

TOL Toll Brothers
$46.18 /

-0.92 (-1.95%)

RMAX RE/MAX Holdings
$26.39 /

+0.16 (+0.61%)

RDFN Redfin
$14.57 /

-0.65 (-4.27%)

PHM PulteGroup
$42.22 /

-0.415 (-0.97%)

LEN Lennar
$76.74 /

-1.21 (-1.55%)

KBH KB Home
$33.21 /

+0.04 (+0.12%)

DHI D.R. Horton
$72.54 /

-1.505 (-2.03%)

BZH Beazer Homes
$14.91 /

-0.33 (-2.17%)

Earnings
Hovnanian sees 2022 revenue $2.8B-$3B » 09:22
03/01/22
03/01
09:22
03/01/22
09:22
HOV

Hovnanian

$96.15 /

+4.59 (+5.01%)

For fiscal 2022, total…

For fiscal 2022, total revenues are expected to be between $2.80 billion and $3.00 billion, gross margin, before cost of sales interest expense and land charges, is expected to be between 23.5% and 25.5%, adjusted pretax income is expected to be between $260 million and $310 million, adjusted EBITDA is expected to be between $410 million and $460 million and fully diluted earnings per share is expected to be between $26.50 and $32.00. At the midpoint of our guidance, we anticipate our shareholders equity to increase by approximately 105% by October 31, 2022. Continue to focus on leverage levels and anticipate reducing debt by approximately $200 million during fiscal 2022.

ShowHide Related Items >><<
HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

Earnings
Hovnanian sees Q2 revenue $700M-$750M » 09:21
03/01/22
03/01
09:21
03/01/22
09:21
HOV

Hovnanian

$96.15 /

+4.59 (+5.01%)

For the second quarter of…

For the second quarter of fiscal 2022, total revenues are expected to be between $700 million and $750 million, gross margin, before cost of sales interest expense and land charges, is expected to be between 23.0% and 25.0% and adjusted pretax income is expected to be between $60 million and $75 million

ShowHide Related Items >><<
HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

HOV Hovnanian
$96.15 /

+4.59 (+5.01%)

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.