NEW YORK, March 25, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding KB
Home (NYSE: KBH), Standard Pacific Corp. (NYSE: SPF), Hovnanian
Enterprises, Inc. (NYSE: HOV), M.D.C. Holdings, Inc. (NYSE: MDC),
and Beazer Homes USA, Inc. (NYSE:
BZH). Private wealth members receive these notes ahead of
publication. To reserve complementary membership, limited openings
are available at: http://www.AnalystsReview.com/register
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KB Home Analyst Notes
On March 19, 2014, KB Home
reported financial results for Q1 FY 2014 (period ended
February 28, 2014). In Q1 FY 2014,
the Company's total revenue increased 11.2% YoY to $450.7 million. Q1 FY 2014 net income was
$10.6 million, or $0.12 per diluted share, compared to a net loss
of $12.5 million, or $0.16 loss per diluted share, in Q1 FY 2013. The
Company noted that the increase in net income was primarily due to
higher revenues, expanded housing gross profit margin, and improved
selling, general, and administrative expense ratio. "Building on
the momentum and the full-year profitability our business achieved
in 2013, we posted net income in the first quarter for the first
time since 2007, along with higher average selling prices,
increased revenues, expanded gross margins and improved operating
leverage," said Jeffrey Mezger,
President and CEO of KB Home. "In the current quarter, our
double-digit percentage increase in community count helped us
generate net order growth, and we are actively working to open
additional new home communities. We are entering the spring selling
season positioned with more communities open in attractive
locations across the country, and we are confident that our
balanced approach to sales price and pace, combined with our focus
on both top-line growth and profitability, will produce strong
results in the coming quarters." The full analyst notes on KB Home
are available to download free of charge at:
http://www.AnalystsReview.com/03252014/KBH/report.pdf
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Standard Pacific Corp. Analyst Notes
On March 11, 2014, Standard
Pacific Corp. (Standard Pacific) announced The Townhomes at Eagle
Creek, a collection of new home designs offering a country club
lifestyle, located on a championship golf course. "Eagle Creek's
location on a premier golf course coupled with the thoughtful
architectural details make it a one-of-a-kind community, where home
shoppers are sure to find the home of their dreams," said
Jay Lewis, Orlando President for Standard Pacific.
"Customers will be delighted by the innovative townhome designs
that feel more like single-family homes." The full analyst notes on
Standard Pacific Corp. are available to download free of charge
at:
http://www.AnalystsReview.com/03252014/SPF/report.pdf
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Hovnanian Enterprises, Inc. Analyst Notes
On March 5, 2014, Hovnanian
Enterprises, Inc. (Hovnanian) reported financial results for Q1 FY
2014 (period ended January 31, 2014).
In Q1 FY 2014, the Company's total revenues were $364.0 million, up 1.6% YoY. Q1 FY 2014 net loss
was $24.5 million, or $0.17 loss per common share, compared to a net
loss of $11.3 million, or
$0.08 loss per common share, in Q1 FY
2013. "While our first quarter is always the slowest seasonal
period for net contracts, the strong recovery trajectory from the
spring selling season of 2013 has softened on a year-over-year
basis. Net contracts in the months of December, January and
February have not met our expectations. In addition to the lull in
sales momentum, both sales and deliveries were impacted by poor
weather conditions and deliveries were further impacted by
shortages in labor and certain materials in some markets that have
extended cycle times," said Ara K.
Hovnanian, Chairman of the Board, President and CEO of
Hovnanian. The full analyst notes on Hovnanian Enterprises, Inc.
are available to download free of charge at:
http://www.AnalystsReview.com/03252014/HOV/report.pdf
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M.D.C. Holdings, Inc. Analyst Notes
On March 11, 2014, M.D.C.
Holdings, Inc. (MDC) announced that its subsidiary Richmond
American Homes of Florida
(Richmond American) has closed on property in Oakridge Landing in
North St. Johns. The Company
informed that Richmond American's project is currently under
development, and is expected to consist of 92 lots, expected to
open in June 2014. With the project,
Richmond American will offer a collection of floor plans ranging
from approximately 2,250 to 3,400 finished square feet. The full
analyst notes on M.D.C. Holdings, Inc. are available to download
free of charge at:
http://www.AnalystsReview.com/03252014/MDC/report.pdf
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Beazer Homes USA, Inc. Analyst Notes
On March 12, 2014, Beazer Homes
USA, Inc. (Beazer Homes) announced that it has agreed to
the terms of an unsolicited request to exchange approximately 19%
or 890,000 of the Company's outstanding 7.50% tangible equity units
(TEUs) due 2015, for 1.4 million shares of common stock, or 1.54
shares per unit. Beazer Homes noted
that the announced transaction provided 115,433 shares over the 1.3
million shares that would have been received at maturity. Further,
the transaction is expected to reduce the Company's debt by
approximately $2.4 million and
slightly reduce future interest expense. In addition, the
stockholders' equity is expected to increase by approximately
$2.4 million. The full analyst notes
on Beazer Homes USA, Inc. are
available to download free of charge at:
http://www.AnalystsReview.com/03252014/BZH/report.pdf
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