Howard Hughes (NYSE:HHH) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Howard Hughes (NYSE:HHH) released its earnings results on Thursday. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.06, FiscalAI reports. The company had revenue of $235.92 million for the quarter. Howard Hughes had a return on equity of 5.43% and a net margin of 8.04%.Howard Hughes’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share.

Howard Hughes Price Performance

NYSE:HHH traded up $2.34 on Friday, reaching $65.86. 583,094 shares of the company’s stock traded hands, compared to its average volume of 466,772. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.73. The stock has a 50-day simple moving average of $65.11 and a 200-day simple moving average of $76.24. The firm has a market cap of $3.93 billion, a PE ratio of 32.29 and a beta of 1.15. Howard Hughes has a 12 month low of $61.01 and a 12 month high of $91.07.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HHH shares. Zacks Research cut Howard Hughes from a “hold” rating to a “strong sell” rating in a report on Friday, April 24th. Wall Street Zen raised Howard Hughes from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings cut Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Howard Hughes has a consensus rating of “Reduce” and an average price target of $85.00.

Insider Buying and Selling

In other news, General Counsel Joseph Valane bought 1,260 shares of Howard Hughes stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $64.45 per share, with a total value of $81,207.00. Following the completion of the acquisition, the general counsel owned 29,209 shares of the company’s stock, valued at $1,882,520.05. This trade represents a 4.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 48.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Howard Hughes

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Howard Hughes by 1,183.2% in the third quarter. SG Americas Securities LLC now owns 25,716 shares of the company’s stock worth $2,113,000 after purchasing an additional 23,712 shares during the last quarter. Northern Right Capital Management L.P. increased its holdings in shares of Howard Hughes by 15.7% in the third quarter. Northern Right Capital Management L.P. now owns 302,450 shares of the company’s stock worth $24,852,000 after purchasing an additional 41,095 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Howard Hughes in the fourth quarter worth about $511,000. TrueMark Investments LLC bought a new stake in shares of Howard Hughes in the third quarter worth about $1,318,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Howard Hughes by 98.3% in the third quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company’s stock worth $45,757,000 after purchasing an additional 276,083 shares during the last quarter. 93.83% of the stock is owned by institutional investors.

About Howard Hughes

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.