Wall Street analysts forecast that Howard Hughes Corp (NYSE:HHC) will announce $273.32 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Howard Hughes’ earnings, with the lowest sales estimate coming in at $199.34 million and the highest estimate coming in at $347.30 million. Howard Hughes reported sales of $300.98 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.2%. The company is scheduled to announce its next quarterly earnings results on Monday, February 25th.
According to Zacks, analysts expect that Howard Hughes will report full-year sales of $823.47 million for the current financial year, with estimates ranging from $738.41 million to $908.52 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.23 billion. Zacks Investment Research’s sales calculations are an 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 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $191.77 million. Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS.
Several research analysts recently commented on HHC shares. Jefferies Financial Group reiterated a “$141.27” rating and issued a $171.00 price target on shares of Howard Hughes in a research report on Wednesday, July 18th. Citigroup dropped their price target on Howard Hughes from $160.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, August 13th. Finally, TheStreet lowered Howard Hughes from a “b-” rating to a “c+” rating in a research report on Tuesday, September 18th. One equities research analyst has rated the stock with a hold rating and two have assigned a buy rating to the stock. Howard Hughes currently has a consensus rating of “Buy” and a consensus target price of $159.33.
HHC opened at $110.80 on Friday. The stock has a market capitalization of $4.95 billion, a P/E ratio of 71.48 and a beta of 1.20. Howard Hughes has a 12 month low of $104.83 and a 12 month high of $142.36. The company has a quick ratio of 1.39, a current ratio of 1.28 and a debt-to-equity ratio of 1.03.
In related news, Director Pershing Square Capital Manage sold 5,953 shares of Howard Hughes stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $125.18, for a total value of $745,196.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 91,098 shares of company stock valued at $11,479,411. 10.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HHC. Jennison Associates LLC lifted its stake in Howard Hughes by 46.8% in the second quarter. Jennison Associates LLC now owns 1,052,235 shares of the financial services provider’s stock worth $139,421,000 after purchasing an additional 335,590 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Howard Hughes by 74.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 404,704 shares of the financial services provider’s stock worth $50,273,000 after purchasing an additional 173,000 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Howard Hughes by 6,013.6% in the second quarter. Renaissance Technologies LLC now owns 134,500 shares of the financial services provider’s stock worth $17,821,000 after purchasing an additional 132,300 shares during the last quarter. Real Estate Management Services LLC bought a new stake in Howard Hughes in the second quarter worth about $17,119,000. Finally, St. James Investment Company LLC lifted its stake in Howard Hughes by 69.8% in the third quarter. St. James Investment Company LLC now owns 209,383 shares of the financial services provider’s stock worth $26,010,000 after purchasing an additional 86,080 shares during the last quarter. 85.32% of the stock is owned by institutional investors and hedge funds.
Howard Hughes Company Profile
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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