Smith Douglas Homes (NYSE:SDHC) Posts Quarterly Earnings Results, Misses Expectations By $0.38 EPS

Smith Douglas Homes (NYSE:SDHC) released its earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.38), Zacks reports. Smith Douglas Homes had a return on equity of 1.74% and a net margin of 1.43%.The business had revenue of $262.04 million for the quarter, compared to the consensus estimate of $251.41 million.

Smith Douglas Homes Stock Performance

SDHC traded down $1.12 on Thursday, hitting $16.79. The company had a trading volume of 76,148 shares, compared to its average volume of 81,238. The stock has a fifty day moving average price of $17.89 and a 200-day moving average price of $18.87. Smith Douglas Homes has a 12-month low of $15.00 and a 12-month high of $37.90. The stock has a market capitalization of $863.79 million, a price-to-earnings ratio of 10.56, a P/E/G ratio of 11.44 and a beta of 0.96.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Smith Douglas Homes from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Wednesday, October 8th. Bank of America decreased their price objective on Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating for the company in a report on Friday, October 10th. Finally, Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Smith Douglas Homes has a consensus rating of “Reduce” and an average price target of $17.50.

Hedge Funds Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in SDHC. Wasatch Advisors LP grew its stake in Smith Douglas Homes by 4.4% in the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after purchasing an additional 53,358 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Smith Douglas Homes during the second quarter worth about $644,000. Geode Capital Management LLC grew its stake in shares of Smith Douglas Homes by 8.8% during the second quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock worth $1,980,000 after acquiring an additional 8,201 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Smith Douglas Homes during the second quarter worth about $90,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Smith Douglas Homes during the second quarter worth about $34,000.

About Smith Douglas Homes

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.