Brokerages predict that Howard Hughes Corp (NYSE:HHC) will report sales of $273.32 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Howard Hughes’ earnings. The lowest sales estimate is $199.34 million and the highest is $347.30 million. Howard Hughes posted sales of $300.98 million in the same quarter last year, which suggests a negative year over year growth rate of 9.2%. The company is expected to issue 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 fiscal year, with estimates ranging from $738.41 million to $908.52 million. For the next financial year, analysts anticipate that the business will post sales of $1.23 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Howard Hughes.
Howard Hughes (NYSE:HHC) last released its quarterly earnings data on Monday, November 5th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). Howard Hughes had a net margin of 18.75% and a return on equity of 2.38%. The business had revenue of $257.00 million for the quarter, compared to the consensus estimate of $191.77 million. During the same quarter last year, the firm earned $0.24 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. Citigroup cut their price objective on Howard Hughes from $160.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, August 13th. TheStreet cut Howard Hughes from a “b-” rating to a “c+” rating in a report on Tuesday, September 18th. Finally, Jefferies Financial Group reiterated a “$141.27” rating and set a $171.00 price objective on shares of Howard Hughes in a report on Wednesday, July 18th. One research analyst has rated the stock with a hold rating and two have given a buy rating to the company’s stock. Howard Hughes has a consensus rating of “Buy” and an average target price of $159.33.
NYSE:HHC opened at $110.80 on Friday. Howard Hughes has a fifty-two week low of $104.83 and a fifty-two week high of $142.36. The company has a current ratio of 1.28, a quick ratio of 1.39 and a debt-to-equity ratio of 1.03. The stock has a market cap of $4.95 billion, a PE ratio of 71.48 and a beta of 1.20.
In other Howard Hughes news, Director Pershing Square Capital Manage sold 5,953 shares of the business’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 91,098 shares of company stock worth $11,479,411 in the last 90 days. Company insiders own 10.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HHC. Legal & General Group Plc lifted its stake in Howard Hughes by 12.7% in the 1st quarter. Legal & General Group Plc now owns 26,491 shares of the financial services provider’s stock valued at $3,686,000 after acquiring an additional 2,980 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Howard Hughes by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,407,569 shares of the financial services provider’s stock valued at $195,836,000 after acquiring an additional 47,981 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Howard Hughes by 49.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,286 shares of the financial services provider’s stock valued at $567,000 after acquiring an additional 1,410 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Howard Hughes by 19.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,058 shares of the financial services provider’s stock valued at $803,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Palo Capital Inc. bought a new stake in Howard Hughes in the 2nd quarter valued at approximately $576,000. Hedge funds and other institutional investors own 85.32% of the company’s stock.
About Howard Hughes
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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