JMP Securities Lowers William Lyon Homes (NYSE:WLH) to Market Perform

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JMP Securities cut shares of William Lyon Homes (NYSE:WLH) from an outperform rating to a market perform rating in a research report released on Wednesday morning, The Fly reports.

WLH has been the topic of several other research reports. Zacks Investment Research upgraded William Lyon Homes from a sell rating to a hold rating in a report on Saturday, October 5th. Wedbush upgraded William Lyon Homes from a neutral rating to an outperform rating and lifted their price objective for the stock from $20.00 to $21.00 in a report on Tuesday, August 13th. They noted that the move was a valuation call. Finally, ValuEngine downgraded William Lyon Homes from a sell rating to a strong sell rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $19.67.

Shares of WLH traded down $0.05 during trading hours on Wednesday, hitting $19.85. The company had a trading volume of 1,111,200 shares, compared to its average volume of 464,155. The firm has a market cap of $696.15 million, a P/E ratio of 8.20 and a beta of 1.27. The stock’s 50 day moving average price is $20.38 and its 200 day moving average price is $18.95. The company has a quick ratio of 0.11, a current ratio of 5.54 and a debt-to-equity ratio of 1.38. William Lyon Homes has a 52-week low of $9.85 and a 52-week high of $21.70.

William Lyon Homes (NYSE:WLH) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.07. The firm had revenue of $466.90 million for the quarter, compared to the consensus estimate of $487.15 million. William Lyon Homes had a return on equity of 8.07% and a net margin of 3.75%. The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, research analysts expect that William Lyon Homes will post 1.49 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WLH. Balyasny Asset Management LLC purchased a new position in shares of William Lyon Homes in the second quarter worth about $13,292,000. Vanguard Group Inc. grew its stake in shares of William Lyon Homes by 6.8% in the second quarter. Vanguard Group Inc. now owns 2,074,248 shares of the construction company’s stock worth $37,813,000 after purchasing an additional 131,782 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of William Lyon Homes in the second quarter worth about $2,342,000. D. E. Shaw & Co. Inc. grew its stake in shares of William Lyon Homes by 238.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 64,941 shares of the construction company’s stock worth $1,184,000 after purchasing an additional 112,014 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of William Lyon Homes by 626.4% in the second quarter. JPMorgan Chase & Co. now owns 124,752 shares of the construction company’s stock worth $2,247,000 after purchasing an additional 107,577 shares during the last quarter. Hedge funds and other institutional investors own 83.03% of the company’s stock.

About William Lyon Homes

William Lyon Homes, together with its subsidiaries, designs, constructs, markets, and sells single-family detached and attached homes in California, Arizona, Nevada, Colorado, Washington, Oregon, and Texas. It sells its homes primarily to entry-level, first-time move-up, and second-time move-up homebuyers.

Further Reading: Why investors pay attention to retained earnings

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