Hovnanian Enterprises (NYSE:HOV) Issues FY 2022 Earnings Guidance

Hovnanian Enterprises (NYSE:HOVGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $32.00-$33.50 for the period. The company issued revenue guidance of $2.80 billion-$3.00 billion.

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $39.06 on Friday. The stock’s 50-day moving average price is $44.91 and its 200 day moving average price is $49.68. The company has a quick ratio of 0.25, a current ratio of 1.17 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $249.59 million, a PE ratio of 1.32 and a beta of 2.41. Hovnanian Enterprises has a 52-week low of $38.23 and a 52-week high of $133.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank lifted its holdings in shares of Hovnanian Enterprises by 8.2% during the first quarter. Swiss National Bank now owns 11,900 shares of the construction company’s stock worth $703,000 after purchasing an additional 900 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Hovnanian Enterprises by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 34,255 shares of the construction company’s stock worth $2,024,000 after acquiring an additional 1,496 shares during the period. Bank of Montreal Can boosted its holdings in shares of Hovnanian Enterprises by 189.1% in the first quarter. Bank of Montreal Can now owns 29,080 shares of the construction company’s stock valued at $1,865,000 after acquiring an additional 19,020 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Hovnanian Enterprises by 58.5% during the first quarter. MetLife Investment Management LLC now owns 3,048 shares of the construction company’s stock worth $180,000 after acquiring an additional 1,125 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Hovnanian Enterprises by 8.4% during the 1st quarter. Rhumbline Advisers now owns 6,777 shares of the construction company’s stock worth $401,000 after buying an additional 526 shares in the last quarter. 64.89% of the stock is currently owned by hedge funds and other institutional investors.

About Hovnanian Enterprises

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Hovnanian Enterprises, Inc engages in the design, construction, marketing, and sale of 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.

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