Howard Hughes (NYSE:HHH – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $2.19, FiscalAI reports. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The business had revenue of $1.12 billion during the quarter. During the same quarter last year, the company earned ($0.22) EPS. The company’s quarterly revenue was up 330.2% compared to the same quarter last year.
Howard Hughes Stock Up 3.7%
Shares of HHH traded up $2.44 during midday trading on Thursday, reaching $68.13. 563,721 shares of the stock were exchanged, compared to its average volume of 441,720. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 33.40 and a beta of 1.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.97. Howard Hughes has a 12-month low of $61.01 and a 12-month high of $91.07. The firm has a 50 day simple moving average of $68.16 and a 200-day simple moving average of $69.23.
Wall Street Analyst Weigh In
HHH has been the topic of several recent research reports. Zacks Research lowered shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Howard Hughes in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average price target of $79.00.
Insider Buying and Selling
In related news, insider James Carman sold 1,500 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the sale, the insider directly owned 22,096 shares in the company, valued at approximately $1,418,563.20. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 48.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its position in shares of Howard Hughes by 41.5% during the fourth quarter. Signaturefd LLC now owns 423 shares of the company’s stock valued at $34,000 after purchasing an additional 124 shares during the period. Sequoia Financial Advisors LLC lifted its position in Howard Hughes by 0.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 27,193 shares of the company’s stock worth $2,169,000 after purchasing an additional 147 shares during the period. Fifth Third Bancorp lifted its position in Howard Hughes by 37.2% in the fourth quarter. Fifth Third Bancorp now owns 572 shares of the company’s stock worth $46,000 after purchasing an additional 155 shares during the period. &PARTNERS boosted its stake in Howard Hughes by 3.9% during the fourth quarter. &PARTNERS now owns 5,407 shares of the company’s stock worth $431,000 after buying an additional 204 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Howard Hughes by 0.7% during the second quarter. California State Teachers Retirement System now owns 30,098 shares of the company’s stock worth $2,032,000 after buying an additional 217 shares in the last quarter. 93.83% of the stock is owned by institutional investors.
Howard Hughes Company Profile
Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.
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