Wedbush Has Negative Outlook for HOV FY2025 Earnings

Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) - Research analysts at Wedbush cut their FY2025 earnings per share (EPS) estimates for shares of Hovnanian Enterprises in a research note issued on Tuesday, May 20th. Wedbush analyst J. Mccanless now forecasts that the construction company will earn $12.04 per share for the year, down from their prior forecast of $12.87. Wedbush currently has a "Neutral" rating and a $120.00 target price on the stock.

A number of other equities analysts have also commented on the company. StockNews.com lowered Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th.

Hovnanian Enterprises Trading Down 6.8%

Shares of HOV stock opened at $89.60 on Thursday. The stock has a market capitalization of $530.86 million, a price-to-earnings ratio of 2.79 and a beta of 2.28. The company's fifty day simple moving average is $100.76 and its two-hundred day simple moving average is $128.31. Hovnanian Enterprises has a 1 year low of $81.15 and a 1 year high of $240.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). The business had revenue of $686.47 million for the quarter, compared to analysts' expectations of $733.20 million. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The firm's revenue was down 3.1% compared to the same quarter last year.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of HOV. Belpointe Asset Management LLC boosted its holdings in Hovnanian Enterprises by 15.3% in the 1st quarter. Belpointe Asset Management LLC now owns 3,678 shares of the construction company's stock valued at $385,000 after purchasing an additional 489 shares during the period. Jane Street Group LLC raised its position in shares of Hovnanian Enterprises by 436.3% in the first quarter. Jane Street Group LLC now owns 9,106 shares of the construction company's stock worth $953,000 after buying an additional 7,408 shares in the last quarter. Empowered Funds LLC boosted its stake in Hovnanian Enterprises by 2.0% during the first quarter. Empowered Funds LLC now owns 31,294 shares of the construction company's stock valued at $3,277,000 after buying an additional 627 shares during the period. Aristeia Capital L.L.C. bought a new stake in Hovnanian Enterprises during the first quarter valued at $400,000. Finally, Caxton Associates LLP purchased a new position in Hovnanian Enterprises during the first quarter worth about $598,000. Institutional investors own 65.40% of the company's stock.

Hovnanian Enterprises Company Profile

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.

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