The Howard Hughes Corp. (NYSE:HHC) Given Average Recommendation of “Strong Buy” by Brokerages
The Howard Hughes Corp. (NYSE:HHC) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a 1-year consensus target price of $200.00 for the company, according to Zacks. Zacks has also given The Howard Hughes Corp. an industry rank of 204 out of 265 based on the ratings given to related companies.
HHC has been the topic of a number of analyst reports. TheStreet downgraded The Howard Hughes Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Citigroup Inc. lifted their price target on The Howard Hughes Corp. from $165.00 to $166.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Finally, Compass Point decreased their price target on The Howard Hughes Corp. from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday, May 23rd.
Shares of The Howard Hughes Corp. (NYSE:HHC) opened at 113.26 on Wednesday. The Howard Hughes Corp. has a 52 week low of $79.33 and a 52 week high of $130.87. The firm has a 50 day moving average price of $117.84 and a 200-day moving average price of $109.92. The firm has a market capitalization of $4.47 billion, a P/E ratio of 18.32 and a beta of 1.63.
The Howard Hughes Corp. (NYSE:HHC) last posted its quarterly earnings results on Monday, August 8th. The company reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.83. The Howard Hughes Corp. had a return on equity of 12.84% and a net margin of 35.23%. The firm had revenue of $272.20 million for the quarter, compared to the consensus estimate of $239.99 million. During the same period in the previous year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities research analysts predict that The Howard Hughes Corp. will post $7.79 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of HHC. Norges Bank purchased a new stake in The Howard Hughes Corp. during the fourth quarter worth approximately $37,583,000. Creative Planning increased its stake in The Howard Hughes Corp. by 13.8% in the first quarter. Creative Planning now owns 12,397 shares of the company’s stock worth $1,313,000 after buying an additional 1,500 shares during the last quarter. Consulta Ltd increased its stake in The Howard Hughes Corp. by 11.1% in the first quarter. Consulta Ltd now owns 1,000,000 shares of the company’s stock worth $105,890,000 after buying an additional 100,000 shares during the last quarter. PM CAPITAL Ltd purchased a new stake in The Howard Hughes Corp. during the first quarter worth approximately $12,442,000. Finally, Aperio Group LLC increased its stake in The Howard Hughes Corp. by 28.1% in the first quarter. Aperio Group LLC now owns 5,428 shares of the company’s stock worth $575,000 after buying an additional 1,190 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.
About The Howard Hughes Corp.
The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in development of master planned communities and the ownership, management and the redevelopment or repositioning of real estate assets, as well as other real estate opportunities in the form of entitled and unentitled land and other development rights, also called Strategic Developments.
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