New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 19, 2014
10:17 EDTTOL, PHM, WLH, RYL, HOV, LENHomebuilders 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
Sign up for a free trial to see the rest of the stories you've been missing.
February 3, 2016
07:13 EDTWLHBill Miller positive on shares of William Lyon Homes
Subscribe for More Information
January 29, 2016
07:50 EDTPHMPulteGroup risk/reward most attractive in homebuilder coverage, says UBS
Subscribe for More Information
January 28, 2016
06:32 EDTPHMPulteGroup reports Q4 EPS 64c, consensus 49c
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use