Hovnanian Enterprises Inc (HOV) Bond Prices Rise 3.3%

An issue of Hovnanian Enterprises Inc (NYSE:HOV) bonds rose 3.3% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 8% coupon and is set to mature on November 1, 2019. The debt is now trading at $105.25 and was trading at $100.75 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.

HOV has been the subject of a number of research analyst reports. TheStreet lowered shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a research report on Thursday, September 7th. BidaskClub lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, MKM Partners reaffirmed a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th.

Hovnanian Enterprises Inc (NYSE:HOV) opened at 2.24 on Wednesday. The firm’s market cap is $330.61 million. Hovnanian Enterprises Inc has a 12 month low of $1.52 and a 12 month high of $2.98. The stock’s 50 day moving average is $1.88 and its 200-day moving average is $2.24.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Thursday, September 7th. The construction company reported ($2.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($2.27). The business had revenue of $592.00 million during the quarter, compared to the consensus estimate of $584.50 million. Hovnanian Enterprises had a negative net margin of 12.69% and a negative return on equity of 7.10%. Hovnanian Enterprises’s quarterly revenue was down 17.4% on a year-over-year basis. On average, analysts anticipate that Hovnanian Enterprises Inc will post ($0.05) earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Eqis Capital Management Inc. raised its position in shares of Hovnanian Enterprises by 2.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after buying an additional 969 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Hovnanian Enterprises by 2.4% in the 1st quarter. Nationwide Fund Advisors now owns 75,273 shares of the construction company’s stock valued at $171,000 after buying an additional 1,730 shares in the last quarter. Stifel Financial Corp raised its position in shares of Hovnanian Enterprises by 5.5% in the 2nd quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after buying an additional 1,975 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Hovnanian Enterprises by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 484,512 shares of the construction company’s stock valued at $1,357,000 after buying an additional 2,432 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Hovnanian Enterprises by 7.1% in the 1st quarter. American International Group Inc. now owns 75,060 shares of the construction company’s stock valued at $170,000 after buying an additional 4,972 shares in the last quarter. Institutional investors own 30.99% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Hovnanian Enterprises Inc (HOV) Bond Prices Rise 3.3%” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://ledgergazette.com/2017/10/11/hovnanian-enterprises-inc-hov-bond-prices-rise-3-3.html.

Hovnanian Enterprises Company Profile

Hovnanian Ente

HOV has been the subject of a number of research analyst reports. TheStreet lowered shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a research report on Thursday, September 7th. BidaskClub lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, MKM Partners reaffirmed a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th.

Hovnanian Enterprises Inc (NYSE:HOV) opened at 2.24 on Wednesday. The firm’s market cap is $330.61 million. Hovnanian Enterprises Inc has a 12 month low of $1.52 and a 12 month high of $2.98. The stock’s 50 day moving average is $1.88 and its 200-day moving average is $2.24.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Thursday, September 7th. The construction company reported ($2.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($2.27). The business had revenue of $592.00 million during the quarter, compared to the consensus estimate of $584.50 million. Hovnanian Enterprises had a negative net margin of 12.69% and a negative return on equity of 7.10%. Hovnanian Enterprises’s quarterly revenue was down 17.4% on a year-over-year basis. On average, analysts anticipate that Hovnanian Enterprises Inc will post ($0.05) earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Eqis Capital Management Inc. raised its position in shares of Hovnanian Enterprises by 2.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after buying an additional 969 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Hovnanian Enterprises by 2.4% in the 1st quarter. Nationwide Fund Advisors now owns 75,273 shares of the construction company’s stock valued at $171,000 after buying an additional 1,730 shares in the last quarter. Stifel Financial Corp raised its position in shares of Hovnanian Enterprises by 5.5% in the 2nd quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after buying an additional 1,975 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Hovnanian Enterprises by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 484,512 shares of the construction company’s stock valued at $1,357,000 after buying an additional 2,432 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Hovnanian Enterprises by 7.1% in the 1st quarter. American International Group Inc. now owns 75,060 shares of the construction company’s stock valued at $170,000 after buying an additional 4,972 shares in the last quarter. Institutional investors own 30.99% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Hovnanian Enterprises Inc (HOV) Bond Prices Rise 3.3%” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://ledgergazette.com/2017/10/11/hovnanian-enterprises-inc-hov-bond-prices-rise-3-3.html.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

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