Howard Hughes (NYSE:HHH) Releases Earnings Results, Misses Expectations By $1.42 EPS

Howard Hughes (NYSE:HHH – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($1.42), FiscalAI reports. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%. The firm had revenue of $636.30 million for the quarter. During the same period in the prior year, the firm posted $3.37 EPS. The company’s revenue was up 63.1% compared to the same quarter last year.

Howard Hughes Trading Down 0.5%

Shares of NYSE HHH traded down $0.38 during mid-day trading on Friday, reaching $77.65. 887,751 shares of the company’s stock were exchanged, compared to its average volume of 933,809. The company’s 50-day moving average is $69.12 and its 200-day moving average is $68.79. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.31 and a current ratio of 2.31. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 30.69 and a beta of 1.17. Howard Hughes has a 52-week low of $60.09 and a 52-week high of $91.07.

Wall Street Analyst Weigh In

HHH has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Howard Hughes from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 26th. Zacks Research raised shares of Howard Hughes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. JPMorgan Chase & Co. raised their price target 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, Piper Sandler reduced their price target on shares of Howard Hughes from $100.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Howard Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Check Out Our Latest Stock Analysis on HHH

Insider Activity

In related news, COO Andrew D. Davis bought 1,000 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were bought at an average price of $64.49 per share, with a total value of $64,490.00. Following the completion of the transaction, the chief operating officer directly owned 32,530 shares of the company’s stock, valued at $2,097,859.70. This represents a 3.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Tighe sold 13,495 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The SEC filing for this sale provides additional information. 47.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Howard Hughes

Several large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its position in Howard Hughes by 520.5% in the second quarter. Squarepoint Ops LLC now owns 83,379 shares of the company’s stock valued at $5,961,000 after purchasing an additional 69,941 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Howard Hughes during the second quarter worth $1,208,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Howard Hughes during the second quarter worth $2,481,000. Legal & General Group Plc acquired a new position in Howard Hughes during the second quarter worth $1,953,000. Finally, JCP Investment Management LLC boosted its position in shares of Howard Hughes by 29.3% during the first quarter. JCP Investment Management LLC now owns 234,100 shares of the company’s stock worth $14,809,000 after buying an additional 53,000 shares during the period. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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About Howard Hughes

(Get Free Report)

Howard Hughes Holdings Inc (NYSE: HHH) is a real estate development and operating company focused primarily on master planned communities, residential and commercial development, and the management of related real estate assets. The company develops large-scale communities that may include housing, retail, offices, schools, parks and other amenities, while generating revenue through land sales, development activities and property operations.

The company’s master planned community portfolio has included Summerlin in the Las Vegas area; Bridgeland, The Woodlands and The Woodlands Hills in the greater Houston area; and other communities and real estate assets in selected U.S.

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Earnings History for Howard Hughes (NYSE:HHH)

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