Howard Hughes (NYSE:HHC) posted its earnings results on Monday. The financial services provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.32, Briefing.com reports. Howard Hughes had a return on equity of 1.80% and a net margin of 5.36%. The business had revenue of $353.89 million during the quarter, compared to the consensus estimate of $292.82 million. During the same period in the previous year, the business earned $0.03 EPS. The business’s quarterly revenue was up 118.9% on a year-over-year basis.
Shares of HHC stock opened at $112.07 on Tuesday. The stock has a market capitalization of $4.83 billion, a P/E ratio of 84.90 and a beta of 1.26. Howard Hughes has a 52-week low of $89.51 and a 52-week high of $142.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.24 and a current ratio of 1.24.
HHC has been the subject of several research reports. TheStreet raised Howard Hughes from a “c” rating to a “b-” rating in a report on Friday, April 26th. Zacks Investment Research raised Howard Hughes from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a report on Friday, March 22nd. Three investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $151.25.
A number of hedge funds have recently modified their holdings of HHC. Vanguard Group Inc increased its position in 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 valued at $698,548,000 after acquiring an additional 362,699 shares during the period. Norges Bank acquired a new position in Howard Hughes in the 4th quarter valued at about $35,360,000. Principal Financial Group Inc. increased its position in Howard Hughes by 12.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,851,660 shares of the financial services provider’s stock valued at $180,759,000 after acquiring an additional 199,136 shares during the period. Vision Capital Corp acquired a new position in Howard Hughes in the 4th quarter valued at about $17,258,000. Finally, FMR LLC increased its position in Howard Hughes by 18.9% in the 4th quarter. FMR LLC now owns 728,388 shares of the financial services provider’s stock valued at $71,105,000 after acquiring an additional 115,967 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.
Howard Hughes Company Profile
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawaii.
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