Howard Hughes Corp (HHC) Expected to Post Earnings of $0.42 Per Share

Wall Street brokerages predict that Howard Hughes Corp (NYSE:HHC) will report earnings of $0.42 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Howard Hughes’ earnings, with estimates ranging from ($0.41) to $1.25. Howard Hughes posted earnings of $0.03 per share in the same quarter last year, which suggests a positive year over year growth rate of 1,300%. The firm is expected to report its next quarterly earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that Howard Hughes will report full year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $0.84 to $1.37. For the next fiscal year, analysts expect that the business will report earnings of $1.04 per share. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Howard Hughes.

Howard Hughes (NYSE:HHC) last announced its earnings results on Wednesday, February 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.40. The firm had revenue of $464.69 million during the quarter, compared to analysts’ expectations of $347.02 million. Howard Hughes had a return on equity of 1.80% and a net margin of 5.36%. The company’s revenue was up 54.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.46 earnings per share.

Separately, Zacks Investment Research cut Howard Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. One analyst has rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $151.00.

In other news, insider Kevin Orrock sold 771 shares of the stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $95.90, for a total value of $73,938.90. Following the completion of the sale, the insider now directly owns 7,693 shares of the company’s stock, valued at $737,758.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.10% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. PRW Wealth Management LLC bought a new stake in shares of Howard Hughes during the 4th quarter valued at $49,000. Avestar Capital LLC increased its stake in Howard Hughes by 49.5% in the 4th quarter. Avestar Capital LLC now owns 996 shares of the financial services provider’s stock worth $79,000 after buying an additional 330 shares in the last quarter. First Mercantile Trust Co. increased its stake in Howard Hughes by 36.6% in the 4th quarter. First Mercantile Trust Co. now owns 1,790 shares of the financial services provider’s stock worth $174,000 after buying an additional 480 shares in the last quarter. Keybank National Association OH increased its stake in Howard Hughes by 9.3% in the 4th quarter. Keybank National Association OH now owns 2,131 shares of the financial services provider’s stock worth $208,000 after buying an additional 181 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust increased its stake in Howard Hughes by 10.0% in the 4th quarter. New Jersey Better Educational Savings Trust now owns 2,200 shares of the financial services provider’s stock worth $215,000 after buying an additional 200 shares in the last quarter. 84.89% of the stock is owned by institutional investors.

Howard Hughes stock traded down $0.04 during trading hours on Tuesday, reaching $110.12. 156,739 shares of the company were exchanged, compared to its average volume of 191,740. Howard Hughes has a 12 month low of $89.51 and a 12 month high of $142.36. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.73 billion, a P/E ratio of 83.42 and a beta of 1.28.

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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