NEW YORK (TheStreet) --Shares of Hovnanian Enterprises Inc. (HOV) are higher by 6.67% to $4.16 in mid-morning trading on Wednesday, after the home builder reported a rise in its 2014 fourth quarter results, which showed an increase in net income, sales, and deliveries that exceeded analysts' expectations.
Net income for the most recent quarter was $322.5 million, or $1.95 per fully diluted share, compared to $32.8 million, or 21 cents per fully diluted share for the 2013 fourth quarter.
Analysts polled by Thomson Reuters expected the company to post earnings per share of 21 cents for the quarter.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Total revenue for the latest quarter grew by 18% to $698.4 million, beating analysts' estimates of $646.77 million for the quarter.
Hovnanian Enterprises said its deliveries for the 2014 fourth quarter rose by 5.5% to 1,916, exceeding the FactSet estimate of 1,735 for the quarter.
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 a few notable 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, weak operating cash flow and poor profit margins."
You can view the full analysis from the report here: HOV Ratings Report