Howard Hughes (NYSE:HHH) Releases Quarterly Earnings Results, Misses Estimates By $1.42 EPS

Howard Hughes (NYSE:HHH) posted its earnings results on Thursday. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($1.42), FiscalAI reports. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The firm had revenue of $636.30 million for the quarter. During the same period last year, the firm earned $3.37 earnings per share. The firm’s revenue was up 63.1% compared to the same quarter last year.

Howard Hughes Price Performance

Shares of Howard Hughes stock traded down $1.39 during trading hours on Friday, reaching $76.64. The stock had a trading volume of 378,510 shares, compared to its average volume of 538,920. The stock’s 50 day moving average is $68.87 and its 200 day moving average is $68.81. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35. Howard Hughes has a twelve month low of $60.09 and a twelve month high of $91.07. The firm has a market capitalization of $4.58 billion, a PE ratio of 15.51 and a beta of 1.17.

More Howard Hughes News

Here are the key news stories impacting Howard Hughes this week:

• Positive Sentiment: Revenue was $636.3 million, up 63.1% year over year and above FactSet’s $609.3 million estimate. Zacks also reported earnings of $1.55 per share, above its $1.03 consensus estimate; however, that figure was below the $2.02 reported a year earlier. Zacks earnings report
• Neutral Sentiment: Analysts had flagged lower land sales as a potential headwind, while housing demand, rental growth and the Vantage acquisition could provide support. The provided coverage does not detail how these factors performed in the quarter. Pre-earnings outlook
• Negative Sentiment: MarketBeat reported a GAAP loss of $0.39 per share, versus consensus estimates of positive $1.03, and a decline from $3.37 earnings per share a year earlier. That loss contrasts with Zacks’ reported $1.55 per-share earnings beat, underscoring that the earnings measures or estimates differ across reports. Quarterly results

Insider Transactions at Howard Hughes

In other Howard Hughes news, COO Andrew D. Davis acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average cost of $64.49 per share, for a total transaction of $64,490.00. Following the completion of the transaction, the chief operating officer directly owned 32,530 shares of the company’s stock, valued at $2,097,859.70. This represents a 3.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Tighe sold 13,495 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total value of $907,538.75. The SEC filing for this sale provides additional information. 47.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Howard Hughes by 74.5% during the 3rd quarter. GAMMA Investing LLC now owns 452 shares of the company’s stock valued at $33,000 after buying an additional 193 shares during the period. Valeo Financial Advisors LLC lifted its holdings in Howard Hughes by 7.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,409 shares of the company’s stock valued at $244,000 after acquiring an additional 226 shares during the last quarter. Baird Financial Group Inc. grew its position in Howard Hughes by 3.6% in the second quarter. Baird Financial Group Inc. now owns 7,771 shares of the company’s stock worth $556,000 after acquiring an additional 272 shares during the period. Sage Investment Counsel LLC grew its position in Howard Hughes by 1.0% in the third quarter. Sage Investment Counsel LLC now owns 29,078 shares of the company’s stock worth $2,141,000 after acquiring an additional 300 shares during the period. Finally, Allworth Financial LP purchased a new position in Howard Hughes in the second quarter worth approximately $31,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analyst Upgrades and Downgrades

HHH has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Piper Sandler cut their price target on shares of Howard Hughes from $100.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Zacks Research upgraded Howard Hughes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Finally, Weiss Ratings raised Howard Hughes from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Howard Hughes has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Howard Hughes Company Profile

Howard Hughes Holdings Inc (NYSE: HHH) is a real estate development and operating company focused primarily on master planned communities, residential and commercial development, and the management of related real estate assets. The company develops large-scale communities that may include housing, retail, offices, schools, parks and other amenities, while generating revenue through land sales, development activities and property operations.

The company’s master planned community portfolio has included Summerlin in the Las Vegas area; Bridgeland, The Woodlands and The Woodlands Hills in the greater Houston area; and other communities and real estate assets in selected U.S.