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$4.78 -0.51 (-9.64%)
10/7/2008 4:00 PM

Beazer Homes USA, Inc. (BZH)

CAPS Rating:
*

Designs, sells and builds single family homes in various locations within the United States. Designs homes at various price points to appeal to homebuyers across various demographic segments.

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Avatar DemonDoug (99.68) Submitted: 8/11/07 9:37 PM : Underperform Start Price: $11.37 BZH Score: 40.57

Here are the ugly facts:

1. EPS (ttm):   -3.44
2. Total Cash (mrq):   218.84M
3. Total Debt (mrq):   1.76B
4. Forward P/E (fye 30-Sep-08) 1:   N/A

These are from Yahoo. The last quarterly report was issued 4-26-07. What happened to last quarter's earnings report?

http://tinyurl.com/22xo46

"Troubled home builder Beazer Homes (BZH - Cramer's Take - Stockpickr - Rating) said late Friday that it would delay the filing of its June quarterly report with the Securities and Exchange Commission because of issues related to how its former chief accounting officer recorded "reserves and other accrued liabilities" related to land-development costs and costs to complete houses."

Yup, it was the CFO's fault. He got fired for shredding documents. The company says it doesn't know when it will file it's 3Q 10-Q. History appears to be whispering in your ears again, Mr. Market.

Add to that a liquidity crunch, home lenders going bankrupt, home owners going bankrupt and being foreclosed on, and you have another symptom of a sick, twisted, and I will say this again for anyone who has missed it before: FRAUDULENT real estate based financial industry.

Please also note that BZH has an ongoing FBI investigation against it, and, oh one more thing: it was a huge lender in the home lending business. Which is why the FBI is in on the case.

I'm not going to tell anyone to go long or short or buy options on BZH. I am just going to lay out the facts, and let my call on this stock speak for itself.

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Avatar Arabella48 (< 20) Submitted: 8/14/07 5:14 PM

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Please read the articles in the Charlotte Observer where the "victims" made statements like "And then when I quit my job, I couldn't make my mortgage payments! There are plenty of fraudulent lenders out there. Beazer Homes was not ever a lender. Please research before stating any more "facts".

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Avatar DemonDoug (99.68) Submitted: 8/14/07 5:59 PM

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BZH was not ever a lender? Then what is this doing in their 10Q from 5/2006?

"Financial Services: Recognizing the homebuyer's desire to simplify the financing
process, we originate mortgages on behalf of our customers through our
subsidiary Beazer Mortgage Corporation, or Beazer Mortgage. Beazer Mortgage
originates, processes and brokers mortgages to third party investors. Beginning
in the second quarter of fiscal year 2006, Beazer Mortgage financed certain of
our mortgage lending activities under its warehouse line of credit or from
general corporate funds prior to selling the loans and their servicing rights to
third-party investors."

http://sec.edgar-online.com/2006/05/10/0001104659-06-033328/Section8.asp

Maybe YOU should check your facts before you say something completely false next time. I do not take glee in an individual losing their job and not be able to make mortgage payments and lose their home. I do believe however that the overbuilding and overextended credit of all lenders in recent years along with individual borrowers has created a huge risk, a lot of waste, and is in the end counter-productive to the long-term health of the US and international macro-economy.

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Avatar DemonDoug (99.68) Submitted: 8/23/07 5:34 PM

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Also please note that "Arabella48" has no stock picks, is not a CAPS player, and made an intentionally erroneous statement without any basis in fact or any evidence to prove her point.

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Avatar AresFinancial (99.67) Submitted: 9/14/07 2:56 AM

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Great write up on BZH. I am staying short. Arabella = owned

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Avatar DemonDoug (99.68) Submitted: 7/21/08 12:28 PM

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Even though I have never owned a piece of real estate in my life, nor invested directly in anything real estate related, I know what I'm talking about. Never bet against The Demon when it comes to housing. Still feels good to be a gangstah. >=-D

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Avatar DemonDoug (99.68) Submitted: 7/21/08 12:29 PM

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Even though I have never owned a piece of real estate in my life, nor invested directly in anything real estate related, I know what I'm talking about. Never bet against The Demon when it comes to housing. Still feels good to be a gangstah. >=-D

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