B. Riley Weighs in on Green Brick Partners, Inc.’s Q2 2024 Earnings (NASDAQ:GRBK)

Green Brick Partners, Inc. (NASDAQ:GRBK) – Analysts at B. Riley raised their Q2 2024 earnings estimates for Green Brick Partners in a research report issued to clients and investors on Friday, May 3rd. B. Riley analyst A. Rygiel now expects that the financial services provider will post earnings per share of $1.81 for the quarter, up from their prior forecast of $1.65. B. Riley has a “Neutral” rating and a $62.00 price target on the stock. The consensus estimate for Green Brick Partners’ current full-year earnings is $6.77 per share. B. Riley also issued estimates for Green Brick Partners’ Q3 2024 earnings at $1.85 EPS and Q4 2024 earnings at $1.86 EPS.

Green Brick Partners (NASDAQ:GRBK) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. The business had revenue of $447.34 million for the quarter, compared to analysts’ expectations of $440.44 million. Green Brick Partners had a net margin of 17.13% and a return on equity of 24.40%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share.

Other analysts have also recently issued research reports about the stock. Wedbush reaffirmed a “neutral” rating and set a $49.00 target price on shares of Green Brick Partners in a research note on Thursday, May 2nd. StockNews.com cut shares of Green Brick Partners from a “buy” rating to a “hold” rating in a research note on Sunday, March 17th.

Green Brick Partners Stock Performance

NASDAQ GRBK opened at $56.41 on Monday. The firm’s fifty day moving average price is $55.82 and its two-hundred day moving average price is $51.65. The stock has a market cap of $2.53 billion, a PE ratio of 8.56 and a beta of 1.73. Green Brick Partners has a fifty-two week low of $37.31 and a fifty-two week high of $61.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 8.70.

Insider Buying and Selling

In other Green Brick Partners news, Director Richard S. Press acquired 1,000 shares of Green Brick Partners stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $51.84 per share, with a total value of $51,840.00. Following the completion of the purchase, the director now directly owns 88,063 shares in the company, valued at approximately $4,565,185.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Green Brick Partners news, Director Richard S. Press bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average price of $51.84 per share, with a total value of $51,840.00. Following the completion of the purchase, the director now directly owns 88,063 shares of the company’s stock, valued at approximately $4,565,185.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Arthur Costello sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.77, for a total value of $2,270,800.00. Following the completion of the transaction, the chief financial officer now directly owns 52,116 shares in the company, valued at $2,958,625.32. The disclosure for this sale can be found here. 44.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GRBK. Vanguard Group Inc. grew its position in Green Brick Partners by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 2,403,836 shares of the financial services provider’s stock worth $124,855,000 after purchasing an additional 237,463 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Green Brick Partners by 76.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,253,421 shares of the financial services provider’s stock valued at $65,103,000 after acquiring an additional 543,450 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Green Brick Partners by 1.7% in the first quarter. Salem Investment Counselors Inc. now owns 737,138 shares of the financial services provider’s stock valued at $44,398,000 after acquiring an additional 12,035 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Green Brick Partners by 30.7% in the third quarter. American Century Companies Inc. now owns 422,869 shares of the financial services provider’s stock valued at $17,553,000 after acquiring an additional 99,240 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Green Brick Partners by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,490 shares of the financial services provider’s stock valued at $11,141,000 after acquiring an additional 9,556 shares in the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

About Green Brick Partners

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.