Hovnanian Enterprises (NYSE:HOV) posted its quarterly earnings results on Thursday. The construction company reported ($1.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($1.21), Morningstar.com reports. The company had revenue of $482.04 million during the quarter. Hovnanian Enterprises had a net margin of 0.66% and a negative return on equity of 2.03%.
NYSE:HOV traded up $0.27 during trading hours on Friday, hitting $10.79. 4,124 shares of the stock traded hands, compared to its average volume of 162,625. The firm has a 50 day moving average price of $6.61 and a 200 day moving average price of $8.10. Hovnanian Enterprises has a fifty-two week low of $5.15 and a fifty-two week high of $43.25. The firm has a market cap of $49.17 million, a price-to-earnings ratio of 14.84 and a beta of 1.62.
A number of large investors have recently made changes to their positions in HOV. Geode Capital Management LLC raised its stake in Hovnanian Enterprises by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 1,223,803 shares of the construction company’s stock valued at $836,000 after purchasing an additional 64,190 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Hovnanian Enterprises during the 1st quarter valued at $669,000. JPMorgan Chase & Co. raised its stake in Hovnanian Enterprises by 1,654.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 55,917 shares of the construction company’s stock valued at $403,000 after purchasing an additional 52,730 shares during the period. Bank of America Corp DE raised its stake in Hovnanian Enterprises by 11.3% during the 4th quarter. Bank of America Corp DE now owns 513,268 shares of the construction company’s stock valued at $351,000 after purchasing an additional 52,147 shares during the period. Finally, Vanguard Group Inc. raised its stake in Hovnanian Enterprises by 28.5% during the 2nd quarter. Vanguard Group Inc. now owns 205,546 shares of the construction company’s stock valued at $1,562,000 after purchasing an additional 45,539 shares during the period. 23.21% of the stock is currently owned by institutional investors.
Hovnanian Enterprises Company Profile
Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.
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