Beazer Homes USA (NYSE:BZH) Posts Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Beazer Homes USA (NYSE:BZH) announced its quarterly earnings results on Thursday. The construction company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.41, Briefing.com reports. The company had revenue of $645.40 million during the quarter, compared to the consensus estimate of $627.29 million. Beazer Homes USA had a net margin of 7.94% and a return on equity of 18.66%. The firm’s quarterly revenue was down 22.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 earnings per share.

Beazer Homes USA Trading Down 10.2 %

Shares of Beazer Homes USA stock opened at $27.17 on Friday. The company’s fifty day simple moving average is $25.49 and its 200-day simple moving average is $25.92. The stock has a market capitalization of $851.51 million, a PE ratio of 4.40 and a beta of 2.33. Beazer Homes USA has a 1-year low of $12.29 and a 1-year high of $35.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 15.28 and a quick ratio of 2.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. boosted its stake in shares of Beazer Homes USA by 62.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 46,617 shares of the construction company’s stock worth $1,161,000 after acquiring an additional 17,949 shares during the last quarter. Morgan Stanley lifted its stake in shares of Beazer Homes USA by 47.2% during the 3rd quarter. Morgan Stanley now owns 756,013 shares of the construction company’s stock valued at $18,832,000 after buying an additional 242,243 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Beazer Homes USA by 6.7% during the 3rd quarter. Royal Bank of Canada now owns 42,812 shares of the construction company’s stock valued at $1,066,000 after buying an additional 2,696 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Beazer Homes USA by 26.9% during the 3rd quarter. Legal & General Group Plc now owns 23,922 shares of the construction company’s stock valued at $596,000 after buying an additional 5,069 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Beazer Homes USA during the 3rd quarter valued at $886,000. Hedge funds and other institutional investors own 79.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BZH has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Beazer Homes USA in a research report on Thursday, October 5th. They set a “hold” rating for the company. Wedbush restated a “neutral” rating and issued a $32.00 target price on shares of Beazer Homes USA in a report on Friday. Zelman & Associates upgraded shares of Beazer Homes USA from a “hold” rating to a “buy” rating in a report on Monday, July 31st. B. Riley raised their target price on shares of Beazer Homes USA from $28.00 to $38.00 in a report on Friday, July 28th. Finally, Sidoti upgraded shares of Beazer Homes USA from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, August 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Beazer Homes USA Company Profile

Beazer Homes USA, Inc operates as a homebuilder in the United States. It designs, constructs, and sells single-family and multi-family homes under the Beazer Homes, Gatherings, and Choice Plans names. The company sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Indiana, Delaware, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.