Zacks: Brokerages Anticipate Howard Hughes Corp (HHC) Will Post Quarterly Sales of $318.30 Million

Equities analysts expect Howard Hughes Corp (NYSE:HHC) to report sales of $318.30 million for the current quarter, according to Zacks. Two analysts have made estimates for Howard Hughes’ earnings, with the highest sales estimate coming in at $347.30 million and the lowest estimate coming in at $289.31 million. Howard Hughes reported sales of $300.98 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The firm is expected to issue its next earnings report on Monday, February 25th.

According to Zacks, analysts expect that Howard Hughes will report full year sales of $898.83 million for the current fiscal year, with estimates ranging from $889.15 million to $908.52 million. For the next year, analysts expect that the firm will post sales of $1.23 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Howard Hughes.

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

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

NYSE:HHC traded down $1.88 during trading hours on Monday, reaching $107.39. 196,045 shares of the company were exchanged, compared to its average volume of 211,299. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $4.70 billion, a PE ratio of 69.28 and a beta of 1.21. Howard Hughes has a twelve month low of $104.04 and a twelve month high of $142.36.

In other Howard Hughes news, Director Pershing Square Capital Manage sold 51,660 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $126.13, for a total transaction of $6,515,875.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Grant Herlitz acquired 4,570 shares of Howard Hughes stock in a transaction on Friday, November 9th. The shares were bought at an average price of $109.39 per share, with a total value of $499,912.30. Following the completion of the transaction, the president now directly owns 154,503 shares of the company’s stock, valued at approximately $16,901,083.17. The disclosure for this purchase can be found here. Over the last 90 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. Corporate insiders own 10.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in shares of Howard Hughes in the second quarter valued at about $130,000. First Trust Advisors LP raised its position in shares of Howard Hughes by 188.2% in the second quarter. First Trust Advisors LP now owns 24,435 shares of the financial services provider’s stock valued at $3,238,000 after buying an additional 15,956 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Howard Hughes by 13.3% in the second quarter. Victory Capital Management Inc. now owns 31,989 shares of the financial services provider’s stock valued at $4,239,000 after buying an additional 3,750 shares during the last quarter. Jennison Associates LLC raised its position in shares of Howard Hughes by 46.8% in the second quarter. Jennison Associates LLC now owns 1,052,235 shares of the financial services provider’s stock valued at $139,421,000 after buying an additional 335,590 shares during the last quarter. Finally, Becker Capital Management Inc. raised its position in shares of Howard Hughes by 1.0% in the second quarter. Becker Capital Management Inc. now owns 418,720 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 4,056 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

About Howard Hughes

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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