Five Point (FPH) Releases Quarterly Earnings Results, Meets Estimates

Five Point (NYSE:FPH) announced its quarterly earnings results on Wednesday. The company reported ($0.03) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03), Morningstar.com reports. Five Point had a negative return on equity of 1.62% and a net margin of 118.34%. The firm had revenue of $7.95 million during the quarter.

Shares of FPH stock traded down $0.24 during mid-day trading on Thursday, reaching $7.47. The company’s stock had a trading volume of 3,768 shares, compared to its average volume of 164,881. Five Point has a 1-year low of $6.64 and a 1-year high of $14.99. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -12.28 and a beta of 0.99.

Several institutional investors have recently made changes to their positions in FPH. First Manhattan Co. acquired a new stake in shares of Five Point during the 4th quarter worth about $69,000. Tower Research Capital LLC TRC acquired a new stake in shares of Five Point during the 3rd quarter worth about $100,000. Northern Trust Corp increased its position in shares of Five Point by 17.7% during the 4th quarter. Northern Trust Corp now owns 14,967 shares of the company’s stock worth $104,000 after purchasing an additional 2,256 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Five Point during the 4th quarter worth about $111,000. Finally, US Bancorp DE acquired a new stake in shares of Five Point during the 3rd quarter worth about $116,000. Institutional investors and hedge funds own 35.32% of the company’s stock.

A number of brokerages have recently weighed in on FPH. Zacks Investment Research raised shares of Five Point from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Friday, November 16th. Citigroup restated a “hold” rating and issued a $9.00 price objective on shares of Five Point in a research note on Wednesday, November 14th.

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Five Point Company Profile

Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers. The company was formerly known as Newhall Holding Company, LLC and changed its name to Five Point Holdings, LLC in May 2016.

Further Reading: What is a Market Correction?

Earnings History for Five Point (NYSE:FPH)

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