Hovnanian Enterprises, Inc. (NYSE:HOV)
Designs, constructs and markets high quality single-family detached homes and attached condominium apartments and townhouses in planned residential developments in the Northeast.
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land will be hotter in the future,full enterprise value should reflect in shares as the cycle becomes stronger.
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they went negative.......... next year is going to be worst .... this reminds me of the dot com days................. holding on to a glimmer of hope. MAybe they could pull it off. It will take 15 years just like most house cycles and the japneeeeeeeese one. history repeats itself
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Do you really want to know?
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Hovnanian Enteprises controls about 120,000 lots, which is approxiately five years' supply, providing opportunities for future growth. While backlog orders are valued at approximately $3.6 billion on 10,000 homes, near-term results will be easier to foreacast. The company is expereienced in redeveloping old residential neighborhoods in urban locations. These locations will benefit from demographic changes in the coming years, younng professionals and empty-nesters who wish to move into the city. Hovnanian recently acquired an Ohio-based builder, improving its capabilities to serve the Midwest region of the U.S. Debt ratings are expected to improve in the medium term because creditors will be more familiar with the company's use of JVs and land options, resulting in lower borrowing costs for the company.
Homebuilding revenues are expected to increase between 14-15% per annum in the future. This is lower than 37% annual growth rate in the past five years. However, consolidation will improve the homebuilding industry, allowing the company to pursue aggressive acquisitions.
Target Price: $60.00
52 Wk High: $54.59 (-41.4%)
52 Wk Low: $24.79 (29.1%)
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Hovnanian Enteprises controls about 120,000 lots, which is approxiately five years' supply, providing opportunities for future growth. While backlog orders are valued at approximately $3.6 billion on 10,000 homes, near-term results will be easier to foreacast. The company is expereienced in redeveloping old residential neighborhoods in urban locations. These locations will benefit from demographic changes in the coming years, younng professionals and empty-nesters who wish to move into the city. Hovnanian recently acquired an Ohio-based builder, improving its capabilities to serve the Midwest region of the U.S. Debt ratings are expected to improve in the medium term because creditors will be more familiar with the company's use of JVs and land options, resulting in lower borrowing costs for the company.
Homebuilding revenues are expected to increase between 14-15% per annum in the future. This is lower than 37% annual growth rate in the past five years. However, consolidation will improve the homebuilding industry, allowing the company to pursue aggressive acquisitions.
Target Price: $60.00
52 Wk High: $54.59 (-41.4%)
52 Wk Low: $24.79 (29.1%)
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still has downside; turn around not in sight
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Trouble brewing in housing. The storm is yet to start.
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good book value per share
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Hmm. Last I checked, Hovnanian built homes on a lot by lot basis as contracts were being signed. They shouldn't have overbuilding the way other homebuilders do, unless there has been a significant increase in contract cancellations. They also have options on land purchases which means they don't have to buy the land unless they want it. I think long term Hovnanian will survive the residential market slowdown. People need to live somewhere. The Four Seasons by Hovnanian should also be in for an increase as more and more baby boomers move to senior communities.
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Ridiculously low P/E.
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Housing is artificially beaten down, will recover
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I have watched this company for the past 25 years since they are headquartered in our town. They are very experienced with smart management that owns a large part of the business. They make quality homes and buildings. They seem to know how to make money in "up and down" markets. They invest their money with long term vision. Their year-long slide seems over done.
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Easy to pick home builders to keep going down for the short term.
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The leadership knows how to play the real estate buisness in both boom and bust markets. They take options on land rather than buy the land. Cover both high end and low end housing markets. Track record that speaks volume.
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