Green Brick Partners Inc (GRBK) Expected to Post Quarterly Sales of $161.44 Million

Equities analysts expect Green Brick Partners Inc (NASDAQ:GRBK) to report sales of $161.44 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Green Brick Partners’ earnings. The highest sales estimate is $165.00 million and the lowest is $157.87 million. Green Brick Partners posted sales of $128.27 million in the same quarter last year, which suggests a positive year over year growth rate of 25.9%. The business is expected to issue its next quarterly earnings report on Monday, May 6th.

According to Zacks, analysts expect that Green Brick Partners will report full-year sales of $681.10 million for the current fiscal year, with estimates ranging from $669.20 million to $693.00 million. For the next year, analysts expect that the firm will post sales of $714.44 million, with estimates ranging from $701.23 million to $727.65 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Green Brick Partners.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $185.12 million for the quarter, compared to analyst estimates of $147.94 million. Green Brick Partners had a net margin of 8.35% and a return on equity of 14.98%.

GRBK has been the topic of several recent analyst reports. Credit Suisse Group lowered their price objective on shares of Green Brick Partners from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 18th. JPMorgan Chase & Co. initiated coverage on shares of Green Brick Partners in a research note on Tuesday, December 11th. They issued a “neutral” rating and a $9.00 price target on the stock. BidaskClub lowered shares of Green Brick Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Deutsche Bank initiated coverage on shares of Green Brick Partners in a research note on Thursday, January 24th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, BTIG Research initiated coverage on shares of Green Brick Partners in a research note on Wednesday, February 6th. They issued a “neutral” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $9.57.

In other Green Brick Partners news, Director Harry Brandler acquired 6,021 shares of the business’s stock in a transaction on Monday, March 11th. The stock was purchased at an average price of $9.21 per share, with a total value of $55,453.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John R. Farris acquired 20,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average cost of $8.70 per share, with a total value of $174,000.00. Following the acquisition, the director now directly owns 93,570 shares in the company, valued at $814,059. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 40,197 shares of company stock worth $359,873. 52.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GRBK. Algert Global LLC bought a new stake in Green Brick Partners in the 3rd quarter valued at about $224,000. Rhumbline Advisers boosted its holdings in Green Brick Partners by 40.7% in the 4th quarter. Rhumbline Advisers now owns 36,654 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 10,610 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Green Brick Partners in the 4th quarter valued at about $289,000. First Trust Advisors LP boosted its holdings in Green Brick Partners by 18.7% in the 4th quarter. First Trust Advisors LP now owns 43,881 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 6,903 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Green Brick Partners by 38.5% during the 4th quarter. Bank of America Corp DE now owns 52,436 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 14,568 shares during the period. 81.00% of the stock is owned by hedge funds and other institutional investors.

Shares of Green Brick Partners stock traded down $0.06 during trading on Wednesday, hitting $8.75. 53,870 shares of the stock were exchanged, compared to its average volume of 60,491. The firm has a market capitalization of $445.57 million, a PE ratio of 6.39 and a beta of 1.69. Green Brick Partners has a 1-year low of $6.65 and a 1-year high of $12.50.

Green Brick Partners Company Profile

Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in Builder Operations and Land Development segments. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of townhomes, single family, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots for public and large private builders; and land and construction financing business.

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