Green Brick Partners (NASDAQ:GRBK) Releases Quarterly Earnings Results

Green Brick Partners (NASDAQ:GRBK) released its quarterly earnings data on Wednesday. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $1.77 by $0.55, Briefing.com reports. Green Brick Partners had a net margin of 17.78% and a return on equity of 25.42%. The firm had revenue of $560.63 million for the quarter, compared to the consensus estimate of $501.51 million. During the same period in the previous year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis.

Green Brick Partners Price Performance

Green Brick Partners stock traded down $1.09 during trading hours on Friday, reaching $71.79. 640,100 shares of the stock were exchanged, compared to its average volume of 493,755. The company has a market cap of $3.19 billion, a P/E ratio of 10.89 and a beta of 1.80. The company has a current ratio of 8.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.22. Green Brick Partners has a twelve month low of $37.31 and a twelve month high of $78.39. The stock has a 50 day moving average of $60.83 and a two-hundred day moving average of $56.98.

Insiders Place Their Bets

In other news, Director Richard S. Press acquired 1,474 shares of Green Brick Partners stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $57.44 per share, for a total transaction of $84,666.56. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $57,440. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Richard S. Press bought 1,474 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $57.44 per share, with a total value of $84,666.56. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $57,440. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director David Einhorn sold 1,000,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $57.80, for a total transaction of $57,800,000.00. Following the completion of the transaction, the director now directly owns 1,302,690 shares of the company’s stock, valued at approximately $75,295,482. The disclosure for this sale can be found here. Corporate insiders own 44.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on GRBK shares. B. Riley upped their price target on shares of Green Brick Partners from $62.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday. Wedbush restated a “neutral” rating and issued a $49.00 price target on shares of Green Brick Partners in a research note on Thursday, May 2nd.

About Green Brick Partners

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.