Brokerages Anticipate Green Brick Partners, Inc. (NASDAQ:GRBK) Will Post Quarterly Sales of $376.62 Million

Wall Street brokerages expect Green Brick Partners, Inc. (NASDAQ:GRBK) to announce $376.62 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Green Brick Partners’ earnings, with estimates ranging from $373.49 million to $379.75 million. Green Brick Partners posted sales of $254.10 million during the same quarter last year, which suggests a positive year over year growth rate of 48.2%. The business is expected to announce its next quarterly earnings results on Monday, March 14th.

On average, analysts expect that Green Brick Partners will report full year sales of $1.30 billion for the current fiscal year, with estimates ranging from $1.27 billion to $1.32 billion. For the next year, analysts anticipate that the business will report sales of $1.56 billion, with estimates ranging from $1.53 billion to $1.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Green Brick Partners.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings results on Monday, November 1st. The financial services provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.10). Green Brick Partners had a return on equity of 21.97% and a net margin of 12.95%. During the same period in the previous year, the company posted $0.68 EPS.

Several research firms have recently issued reports on GRBK. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a report on Monday, November 8th. JPMorgan Chase & Co. cut Green Brick Partners from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $28.00 in a report on Thursday, October 14th. B. Riley decreased their price objective on Green Brick Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, October 12th. Finally, JMP Securities restated a “buy” rating on shares of Green Brick Partners in a report on Monday, August 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Green Brick Partners currently has an average rating of “Hold” and a consensus target price of $30.33.

Green Brick Partners stock traded down $0.65 during mid-day trading on Thursday, hitting $26.28. 155,917 shares of the company were exchanged, compared to its average volume of 671,113. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.02 and a quick ratio of 0.20. The business’s 50 day simple moving average is $23.81 and its two-hundred day simple moving average is $23.59. The company has a market capitalization of $1.33 billion, a P/E ratio of 8.59 and a beta of 1.45. Green Brick Partners has a 12-month low of $18.27 and a 12-month high of $28.03.

A number of institutional investors have recently modified their holdings of GRBK. Bank of New York Mellon Corp lifted its stake in shares of Green Brick Partners by 7.5% during the third quarter. Bank of New York Mellon Corp now owns 188,340 shares of the financial services provider’s stock worth $3,866,000 after purchasing an additional 13,183 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Green Brick Partners by 0.7% during the third quarter. Summit Trail Advisors LLC now owns 55,677 shares of the financial services provider’s stock worth $1,142,000 after purchasing an additional 407 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Green Brick Partners by 8.0% during the third quarter. BNP Paribas Arbitrage SA now owns 80,252 shares of the financial services provider’s stock worth $1,647,000 after purchasing an additional 5,931 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Green Brick Partners by 21.8% during the third quarter. Janus Henderson Group PLC now owns 17,054 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 3,051 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in shares of Green Brick Partners during the third quarter worth about $691,000. Hedge funds and other institutional investors own 81.75% of the company’s stock.

About Green Brick Partners

Green Brick Partners, Inc engages in residential land development and homebuilding. It operates through the following segments: Builder Operations Central, Builder Operations Southeast, and Land Development segments. The Builder Operations Central segment segment represents operations of its builders in Texas.

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