Smith Douglas Homes (NYSE:SDHC) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Smith Douglas Homes (NYSE:SDHC) issued its quarterly earnings results on Wednesday. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02), FiscalAI reports. Smith Douglas Homes had a return on equity of 1.74% and a net margin of 1.43%.The company had revenue of $262.04 million for the quarter, compared to the consensus estimate of $251.41 million.

Smith Douglas Homes Stock Up 3.0%

Smith Douglas Homes stock traded up $0.52 during mid-day trading on Wednesday, hitting $17.93. The company’s stock had a trading volume of 80,234 shares, compared to its average volume of 81,262. The stock has a market capitalization of $922.55 million, a P/E ratio of 11.28, a P/E/G ratio of 11.72 and a beta of 0.96. Smith Douglas Homes has a twelve month low of $15.00 and a twelve month high of $37.90. The stock’s fifty day moving average price is $17.92 and its two-hundred day moving average price is $18.88.

Wall Street Analyst Weigh In

SDHC has been the topic of a number of recent research reports. Wall Street Zen raised shares of Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday. Bank of America cut their target price on shares of Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, October 10th. Zacks Research raised shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $17.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its position in Smith Douglas Homes by 4.4% in the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock worth $24,845,000 after buying an additional 53,358 shares during the last quarter. Geode Capital Management LLC boosted its stake in Smith Douglas Homes by 8.8% in the 2nd quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock worth $1,980,000 after purchasing an additional 8,201 shares during the period. Marshall Wace LLP acquired a new position in Smith Douglas Homes in the 2nd quarter worth approximately $644,000. First Trust Advisors LP boosted its stake in Smith Douglas Homes by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock worth $564,000 after purchasing an additional 1,583 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in Smith Douglas Homes in the 2nd quarter worth approximately $90,000.

About Smith Douglas Homes

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.