Hovnanian Enterprises, Inc. (NYSE:HOV) declared on Wednesday fiscal Q1 loss tapering as the homebuilder’s contracts and deliveries both surged.
U.S. home builders have seen better bottom lines, orders and housing starts in recent times as the housing market has been improving from the worst downturn in generations.
Hovnanian declared a loss of $11.3M for the quarter ended Jan. 31, or eight cents per share, in contradt with a year-earlier loss of $18.3M, or 17 cents per share. The newest quarter included $9.7M in federal-tax benefits and the year-before quarter included a net benefit of $20.1M from gains on extinguishment of debt.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes PulteGroup, Inc. (NYSE:PHM) lost -0.69%, D.R. Horton, Inc. (NYSE:DHI) edged down -0.38%, Lennar Corporation (NYSE:LEN) which also increased +1.38% and M/I Homes Inc (NYSE:MHO) closed up +3.93%.
Hovnanian Enterprises, Inc. (NYSE:HOV) stock’s trade at beginning with a price of $6.20 and throughout the trading session climbed at a high of $6.22 other than when day-trade ended the stock finally declined -2.62% to $5.94.
The stock is going forward its 52 week low with 290.79% and lagging behind from its 52 week high price with -20.05%. HOV last month stock price volatility remained 6.28%.
HOV stock institutional ownership remained 55.18% while insider ownership included 8.94%. In its share capital HOV has 124.17 million outstanding shares among them 95.15 million shares have been floated in market exchange.
Company’s beta coefficient included 3.17. Beta factors measures the amount of market risk associated with market trade.
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