Howard Hughes Corp (HHC) Expected to Announce Earnings of $0.46 Per Share

Analysts forecast that Howard Hughes Corp (NYSE:HHC) will post earnings of $0.46 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Howard Hughes’ earnings. Howard Hughes posted earnings per share of $1.28 during the same quarter last year, which would indicate a negative year over year growth rate of 64.1%. The business is scheduled to issue its next earnings report on Monday, February 25th.

According to Zacks, analysts expect that Howard Hughes will report full-year earnings of $0.92 per share for the current year. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Howard Hughes.

Howard Hughes (NYSE:HHC) last posted its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $191.77 million. Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share.

A number of equities research analysts recently weighed in on HHC shares. TheStreet downgraded Howard Hughes from a “b-” rating to a “c+” rating in a research report on Tuesday, September 18th. Citigroup reduced their price target on Howard Hughes from $160.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, August 13th. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Howard Hughes has an average rating of “Buy” and a consensus price target of $160.00.

HHC stock traded up $1.91 during midday trading on Friday, reaching $109.15. The company’s stock had a trading volume of 21,389 shares, compared to its average volume of 212,816. Howard Hughes has a 1 year low of $104.83 and a 1 year high of $142.36. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.03. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 70.35 and a beta of 1.21.

In other Howard Hughes news, Director Allen J. Model acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were acquired at an average price of $108.98 per share, for a total transaction of $108,980.00. Following the completion of the acquisition, the director now directly owns 17,062 shares of the company’s stock, valued at $1,859,416.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Pershing Square Capital Manage sold 899,647 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $109.39, for a total value of $98,412,385.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 56,570 shares of company stock valued at $6,188,272 and have sold 990,745 shares valued at $109,891,796. 10.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new position in shares of Howard Hughes during the second quarter worth approximately $130,000. Qube Research & Technologies Ltd acquired a new stake in Howard Hughes during the 2nd quarter valued at $132,000. Pinnacle Financial Partners Inc. grew its holdings in shares of Howard Hughes by 339.1% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 1,335 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 1,031 shares in the last quarter. Summit Financial Strategies Inc. purchased a new position in shares of Howard Hughes during the 3rd quarter valued at $217,000. Finally, CIBC Asset Management Inc bought a new stake in Howard Hughes in the second quarter worth $222,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Howard Hughes Company Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.

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