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

Hovnanian Enterprises (NYSE:HOV) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 25.000-29.000 for the period. The company issued revenue guidance of $2.8 billion-$3.0 billion. Hovnanian Enterprises also updated its Q3 2024 guidance to EPS.

Hovnanian Enterprises Trading Up 3.6 %

HOV stock opened at $153.94 on Thursday. The company has a market capitalization of $939.03 million, a price-to-earnings ratio of 5.54 and a beta of 2.62. Hovnanian Enterprises has a 1-year low of $65.22 and a 1-year high of $184.42. The company has a debt-to-equity ratio of 2.19, a current ratio of 4.07 and a quick ratio of 0.86. The business has a 50 day simple moving average of $151.42 and a two-hundred day simple moving average of $143.28.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 58.22% and a net margin of 7.45%. The company had revenue of $594.20 million during the quarter.

Wall Street Analyst Weigh In

HOV has been the subject of a number of research analyst reports. Zelman & Associates reaffirmed an underperform rating on shares of Hovnanian Enterprises in a research report on Friday, April 12th. TheStreet upgraded Hovnanian Enterprises from a c+ rating to a b- rating in a report on Friday, February 16th. Finally, StockNews.com cut shares of Hovnanian Enterprises from a buy rating to a hold rating in a report on Sunday, March 3rd.

Insider Buying and Selling

In related news, CEO Ara K. Hovnanian sold 1,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total transaction of $157,820.00. Following the completion of the sale, the chief executive officer now directly owns 51,475 shares in the company, valued at approximately $8,123,784.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.67% of the stock is currently owned by insiders.

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.