Howard Hughes (NYSE:HHH) Posts Earnings Results, Beats Estimates By $2.19 EPS

Howard Hughes (NYSE:HHH) released its quarterly earnings results on Wednesday. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $0.49 by $2.19, FiscalAI reports. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The company had revenue of $1.12 billion during the quarter. During the same quarter in the prior year, the business posted ($0.22) EPS. The company’s revenue was up 330.2% on a year-over-year basis.

Howard Hughes Trading Up 0.2%

HHH traded up $0.16 during trading on Friday, hitting $68.21. 329,273 shares of the stock were exchanged, compared to its average volume of 441,861. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 33.46 and a beta of 1.14. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.58 and a current ratio of 1.58. Howard Hughes has a 1 year low of $61.01 and a 1 year high of $91.07. The firm has a 50 day simple moving average of $68.24 and a 200 day simple moving average of $69.12.

Insider Buying and Selling at Howard Hughes

In other Howard Hughes news, insider James Carman sold 1,500 shares of Howard Hughes stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $64.20, for a total value of $96,300.00. Following the transaction, the insider owned 22,096 shares in the company, valued at $1,418,563.20. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 48.00% of the company’s stock.

Institutional Trading of Howard Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Howard Hughes by 41.5% in the 4th quarter. Signaturefd LLC now owns 423 shares of the company’s stock valued at $34,000 after buying an additional 124 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Howard Hughes by 0.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 27,193 shares of the company’s stock valued at $2,169,000 after purchasing an additional 147 shares during the period. Fifth Third Bancorp grew its holdings in shares of Howard Hughes by 37.2% in the fourth quarter. Fifth Third Bancorp now owns 572 shares of the company’s stock valued at $46,000 after purchasing an additional 155 shares during the period. &PARTNERS increased its position in Howard Hughes by 3.9% during the fourth quarter. &PARTNERS now owns 5,407 shares of the company’s stock worth $431,000 after purchasing an additional 204 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Howard Hughes by 0.7% during the second quarter. California State Teachers Retirement System now owns 30,098 shares of the company’s stock worth $2,032,000 after purchasing an additional 217 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Howard Hughes in a report on Friday, July 17th. Zacks Research downgraded Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price objective on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Sell” and a consensus target price of $79.00.

Howard Hughes Company Profile

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.