Green Brick Partners (NASDAQ:GRBK) Issues Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Key Points

• Green Brick Partners reported quarterly EPS of $1.70, beating analyst estimates of $1.39 by $0.31. However, revenue declined 10.1% year over year, and EPS fell from $1.85 in the prior-year quarter.
• Shares fell $2.19 to $71.44 during Wednesday trading. The company has a $3.08 billion market capitalization, a 9.28 price-to-earnings ratio and a 52-week trading range of $60.44 to $83.18.
• Analysts maintain a consensus “Hold” rating, while institutional investors own 78.24% of the stock; several funds increased their positions during the fourth quarter.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.31, Briefing.com reports. Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. The firm's revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share.

Green Brick Partners Stock Performance

Shares of NASDAQ GRBK traded down $2.19 during mid-day trading on Wednesday, reaching $71.44. 237,345 shares of the company's stock were exchanged, compared to its average volume of 230,274. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 9.28 and a beta of 1.79. Green Brick Partners has a 52 week low of $60.44 and a 52 week high of $83.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63. The firm has a 50-day moving average price of $72.47 and a two-hundred day moving average price of $70.57.

Analysts Set New Price Targets

Separately, Citizens Jmp restated a "market perform" rating on shares of Green Brick Partners in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Green Brick Partners presently has a consensus rating of "Hold".

Hedge Funds Weigh In On Green Brick Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in Green Brick Partners by 10.7% in the fourth quarter. Invesco Ltd. now owns 300,986 shares of the financial services provider's stock worth $18,860,000 after acquiring an additional 29,081 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Green Brick Partners during the 4th quarter valued at approximately $200,000. State of Tennessee Department of Treasury increased its stake in shares of Green Brick Partners by 45.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 13,671 shares of the financial services provider's stock worth $949,000 after purchasing an additional 4,278 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Green Brick Partners by 55.4% during the 4th quarter. Empowered Funds LLC now owns 62,187 shares of the financial services provider's stock worth $3,897,000 after purchasing an additional 22,180 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Green Brick Partners in the 4th quarter worth approximately $2,228,000. Institutional investors own 78.24% of the company's stock.

About Green Brick Partners

Green Brick Partners, Inc NASDAQ: GRBK is a Dallas, Texas–based residential homebuilder and land development company. Founded in 2006, the company acquires, develops and sells residential lots and constructs single‐family detached homes, townhomes and multi‐family rental communities. Green Brick Partners also offers master‐planned community development and delivers improved lot ready capability through its funded land development segment.

Operating across key Sun Belt markets, Green Brick Partners serves homebuyers in the Dallas–Fort Worth metroplex, Greater Houston, Austin and the Atlanta metropolitan area.

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