Hovnanian Enterprises (NYSE:HOV) Releases Earnings Results, Beats Estimates By $0.87 EPS

Hovnanian Enterprises (NYSE:HOV - Get Free Report) released its quarterly earnings results on Thursday. The construction company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.87, Zacks reports. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The business had revenue of $673.62 million during the quarter, compared to analyst estimates of $705.80 million.

Hovnanian Enterprises Price Performance

HOV traded down $2.45 on Thursday, hitting $101.22. 88,122 shares of the company's stock traded hands, compared to its average volume of 76,358. The company's 50 day simple moving average is $130.19 and its 200-day simple moving average is $169.53. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. Hovnanian Enterprises has a one year low of $101.19 and a one year high of $240.34. The firm has a market cap of $612.87 million, a price-to-earnings ratio of 3.15 and a beta of 2.71.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HOV. Zelman & Associates reissued an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Wedbush restated a "neutral" rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

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.