Hovnanian Enterprises (NYSE:HOV) Issues FY 2024 Earnings Guidance

Hovnanian Enterprises (NYSE:HOV) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 29.000-31.000 for the period. The company issued revenue guidance of $2.9 billion-$3.1 billion.

Hovnanian Enterprises Price Performance

NYSE:HOV traded up $10.05 during mid-day trading on Thursday, hitting $217.65. 64,043 shares of the company’s stock traded hands, compared to its average volume of 80,899. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 1.35. The company has a market cap of $1.30 billion, a PE ratio of 6.94 and a beta of 2.58. The firm’s 50 day simple moving average is $168.58 and its 200 day simple moving average is $157.60. Hovnanian Enterprises has a 1 year low of $65.22 and a 1 year high of $224.52.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. The business had revenue of $708.38 million during the quarter. Sell-side analysts expect that Hovnanian Enterprises will post 27 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on HOV. StockNews.com lowered Hovnanian Enterprises from a buy rating to a hold rating in a research note on Tuesday, August 13th. Zelman & Associates raised shares of Hovnanian Enterprises from an underperform rating to a neutral rating and set a $155.00 price objective for the company in a research report on Thursday, May 23rd.

Insider Activity

In other news, CEO Ara K. Hovnanian sold 1,123 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.05, for a total transaction of $157,276.15. Following the transaction, the chief executive officer now directly owns 59,859 shares in the company, valued at approximately $8,383,252.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Ara K. Hovnanian sold 1,123 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $140.05, for a total transaction of $157,276.15. Following the completion of the sale, the chief executive officer now directly owns 59,859 shares in the company, valued at approximately $8,383,252.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ara K. Hovnanian sold 14,000 shares of Hovnanian Enterprises stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $153.30, for a total value of $2,146,200.00. Following the completion of the transaction, the chief executive officer now owns 34,075 shares in the company, valued at approximately $5,223,697.50. The disclosure for this sale can be found here. Insiders sold a total of 47,816 shares of company stock valued at $6,966,617 over the last quarter. Company insiders own 17.67% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.