NEW YORK (TheStreet) -- Shares of Hovnanian Enterprises Inc. (HOV) are higher by 1.55% to $4.26 in mid-morning trading on Thursday, after the company reported a rise in net income for the 2014 third quarter to $17.1 million, or 11 cents per share, from $8.5 million, or 6 cents per share for the year ago period.
The company, which designs, constructs, markets, and sells single family detached homes, said sales for the most recent quarter increased by 15.2% to $551 million, compared to $478.4 million for the 2013 third quarter.
Analysts polled by Thomson Reuters expected Hovnanian Enterprises to report earnings per share of 9 cents, on revenue of $559.47 million for the quarter.
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Separately, TheStreet Ratings team rates HOVNANIAN ENTRPRS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:"We rate HOVNANIAN ENTRPRS INC (HOV) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, unimpressive growth in net income, weak operating cash flow, poor profit margins and feeble growth in its earnings per share." You can view the full analysis from the report here: HOV Ratings Report
HOV data by YCharts
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