Brokerages Expect Howard Hughes Corp (HHC) to Post $1.11 Earnings Per Share

Wall Street brokerages forecast that Howard Hughes Corp (NYSE:HHC) will announce $1.11 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Howard Hughes’ earnings. Howard Hughes posted earnings per share of $1.28 during the same quarter last year, which indicates a negative year over year growth rate of 13.3%. The company is scheduled to announce its next earnings results on Monday, February 25th.

According to Zacks, analysts expect that Howard Hughes will report full-year earnings of $1.65 per share for the current fiscal year. For the next financial year, analysts forecast that the business will post earnings of $3.18 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Howard Hughes.

Howard Hughes (NYSE:HHC) last posted its earnings results on Monday, November 5th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.08). Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. The business had revenue of $257.00 million for the quarter, compared to analyst estimates of $191.77 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis.

Several equities research analysts recently commented on the stock. Citigroup lifted their target price on shares of Howard Hughes from $157.00 to $159.00 and gave the stock a “buy” rating in a research report on Tuesday, November 13th. TheStreet downgraded shares of Howard Hughes from a “b-” rating to a “c+” rating in a research report on Tuesday, September 18th. One analyst has rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $160.00.

NYSE:HHC opened at $112.21 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.28 and a current ratio of 1.28. Howard Hughes has a one year low of $104.83 and a one year high of $142.36. The company has a market cap of $4.77 billion, a P/E ratio of 64.02 and a beta of 1.21.

In other news, Director Jeffrey D. Furber purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were purchased at an average price of $109.88 per share, for a total transaction of $109,880.00. Following the transaction, the director now owns 18,210 shares of the company’s stock, valued at $2,000,914.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Weinreb purchased 50,000 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was purchased at an average price of $109.39 per share, for a total transaction of $5,469,500.00. Following the transaction, the chief executive officer now directly owns 1,325,177 shares in the company, valued at approximately $144,961,112.03. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 56,570 shares of company stock worth $6,188,272 and have sold 990,745 shares worth $109,891,796. 10.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Howard Hughes by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,623,471 shares of the financial services provider’s stock worth $698,548,000 after purchasing an additional 362,699 shares during the period. Morgan Stanley increased its stake in shares of Howard Hughes by 122.9% in the 3rd quarter. Morgan Stanley now owns 100,500 shares of the financial services provider’s stock valued at $12,484,000 after acquiring an additional 55,404 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Howard Hughes by 4.3% in the 3rd quarter. Legal & General Group Plc now owns 26,588 shares of the financial services provider’s stock valued at $3,303,000 after acquiring an additional 1,085 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Howard Hughes by 1.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 149,884 shares of the financial services provider’s stock valued at $18,619,000 after acquiring an additional 1,496 shares in the last quarter. Finally, Equitable Trust Co. bought a new stake in shares of Howard Hughes in the 3rd quarter valued at $444,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Howard Hughes Company Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.

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