Howard Hughes Corp (HHC) Expected to Post Earnings of $1.11 Per Share
Wall Street analysts predict that Howard Hughes Corp (NYSE:HHC) will post $1.11 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Howard Hughes’ earnings. Howard Hughes reported earnings per share of $1.28 during the same quarter last year, which would suggest a negative year over year growth rate of 13.3%. The company is scheduled to report its next earnings report on Monday, February 25th.
On average, analysts expect that Howard Hughes will report full year earnings of $1.65 per share for the current year. For the next fiscal year, analysts expect that the business will report earnings of $3.18 per share. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Howard Hughes.
Howard Hughes (NYSE:HHC) last released its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.08). Howard Hughes had a net margin of 18.75% and a return on equity of 2.38%. The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $191.77 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year.
Howard Hughes stock opened at $109.00 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.28 and a quick ratio of 1.28. Howard Hughes has a 12-month low of $104.83 and a 12-month high of $142.36. The stock has a market capitalization of $4.77 billion, a P/E ratio of 70.32 and a beta of 1.20.
In other Howard Hughes news, Director Pershing Square Capital Manage sold 5,953 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $125.18, for a total transaction of $745,196.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 990,745 shares of company stock valued at $109,891,796 over the last three months. Company insiders own 10.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Westpac Banking Corp acquired a new position in shares of Howard Hughes during the 3rd quarter worth about $1,042,000. Schroder Investment Management Group grew its position in shares of Howard Hughes by 2.0% during the 3rd quarter. Schroder Investment Management Group now owns 282,562 shares of the financial services provider’s stock worth $35,100,000 after buying an additional 5,470 shares during the period. BlackRock Inc. grew its position in shares of Howard Hughes by 2.4% during the 3rd quarter. BlackRock Inc. now owns 1,760,976 shares of the financial services provider’s stock worth $218,750,000 after buying an additional 41,701 shares during the period. Grand Jean Capital Management Inc. grew its position in shares of Howard Hughes by 1.1% during the 3rd quarter. Grand Jean Capital Management Inc. now owns 102,792 shares of the financial services provider’s stock worth $12,769,000 after buying an additional 1,081 shares during the period. Finally, Summit Financial Strategies Inc. acquired a new position in shares of Howard Hughes during the 3rd quarter worth about $217,000. 85.49% of the stock is owned by hedge funds and other institutional investors.
About Howard Hughes
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.
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