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March 19, 2014
10:17 EDTHOV, LEN, TOL, PHM, WLH, RYLHomebuilders rebound after KB Home results beat expectations
Shares of homebuilders are rising in today's down market after one of the companies in the sector, KB Home (KBH), reported stronger than expected results. WHAT'S NEW: KB Home reported first quarter earnings per share of 12c, compared with analysts' consensus estimate of 8c. The company's revenue was also higher than expected. KB's homebuilding operating income jumped to $17.7M, versus $500K in the same period a year earlier. The average selling price of the company's homes jumped 12% year-over-year, and the net value of its orders rose 18%. KB's housing gross profit margin increased to 17.7%, up from 14.8% in the same period a year earlier. WHAT'S NOTABLE: KB Home's stronger than expected results come after some recent negative news for the sector. On February 25, homebuilder Toll Brothers said that its contracts for units had dropped about 8% in the first three and a half weeks of its second quarter. The company also reduced the high end of its fiscal 2014 home delivery guidance. On March 12, Credit Suisse downgraded its rating on Toll Brothers (TOL), along with peers Pulte Group (PHM) and William Lyon Homes (WLH). The spring selling season looks set to be "underwhelming," the firm warned. PRICE ACTION: In early trading, Lennar rose 4% to $42.20, Ryland (RYL) advanced 2.8% to $42.55, Hovnanian (HOV) added 3% to $5.10, PulteGroup gained 3% to $20.05, William Lyon added 1.5% to $29.80, and KB Home rose 9% to $19.25.
News For LEN;RYL;PHM;HOV;WLH;TOL From The Last 14 Days
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January 30, 2015
10:00 EDTPHMOn The Fly: Analyst Downgrade Summary
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05:53 EDTPHMPulteGroup downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded PulteGroup to Market Perform citing valuation following yesterday's post-earnings share rally.
January 29, 2015
08:06 EDTRYLRyland Group reports Q4 EPS $1.26, consensus 96c
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06:43 EDTPHMPulteGroup reports Q4 EPS 58c, consensus 40c
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January 23, 2015
13:59 EDTRYLRyland Group files automatic mixed securities shelf
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08:54 EDTRYLCitadel Advisors reports 5% passive stake in Ryland Group
January 20, 2015
09:20 EDTHOVHovnanian downgraded to Underperform from Market Perform at JMP Securities
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08:16 EDTPHMPulteGroup downgraded to Neutral from Buy at Buckingham
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07:11 EDTRYLRyland Group downgraded to Underperform from Neutral at Credit Suisse
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07:11 EDTPHMPulteGroup downgraded to Underperform from Neutral at Credit Suisse
Price target lowered to $19 from $20.
January 16, 2015
16:36 EDTLENMarket finishes week lower on continued oil, global growth worries
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09:37 EDTLENLennar downgraded to Equal Weight from Overweight at Barclays
09:11 EDTLENLennar results were strong, says JMP Securities
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08:17 EDTLENLennar has reached attractive entry point, says RBC Capital
After Lennar fell 7% on concerns about lower gross margin guidance, RBC Capital is confident that the company's gross margins can exceed 23% in the next three years, while its pre-tax income will continue to grow rapidly. The firm thinks the stock has reached an attractive entry point and keeps an Outperform rating but cut its price target on the name to $48 from $54.

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