Smith Douglas Homes (NYSE:SDHC) Shares Down 8.8% Following Weak Earnings
by Sarita Garza · The Markets DailySmith Douglas Homes Corp. (NYSE:SDHC – Get Free Report)’s share price fell 8.8% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $12.25 and last traded at $12.25. 146,252 shares were traded during mid-day trading, an increase of 87% from the average session volume of 78,157 shares. The stock had previously closed at $13.43.
The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.20). Smith Douglas Homes had a net margin of 1.10% and a negative return on equity of 1.05%. The firm had revenue of $260.43 million for the quarter, compared to the consensus estimate of $251.09 million.
Wall Street Analyst Weigh In
Several research firms have issued reports on SDHC. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Thursday, January 22nd. Zacks Research downgraded Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 target price on shares of Smith Douglas Homes in a report on Friday, November 21st. BTIG Research initiated coverage on Smith Douglas Homes in a research report on Monday, December 1st. They set a “neutral” rating on the stock. Finally, UBS Group reiterated a “positive” rating on shares of Smith Douglas Homes in a research report on Monday, December 1st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Smith Douglas Homes presently has a consensus rating of “Reduce” and a consensus target price of $15.80.
Get Our Latest Analysis on Smith Douglas Homes
Institutional Investors Weigh In On Smith Douglas Homes
Several hedge funds have recently bought and sold shares of SDHC. First Eagle Investment Management LLC increased its holdings in shares of Smith Douglas Homes by 38.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock valued at $5,857,000 after purchasing an additional 91,292 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Smith Douglas Homes during the third quarter worth approximately $188,000. Inspire Advisors LLC purchased a new position in Smith Douglas Homes during the third quarter valued at approximately $214,000. Daiwa Securities Group Inc. grew its position in Smith Douglas Homes by 19.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,664 shares of the company’s stock valued at $447,000 after purchasing an additional 4,377 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Smith Douglas Homes in the 3rd quarter valued at approximately $346,000.
Smith Douglas Homes Trading Up 11.0%
The business’s 50-day simple moving average is $17.51 and its 200-day simple moving average is $18.02. The company has a market cap of $650.33 million, a PE ratio of 10.62 and a beta of 1.04.
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. was founded in 2008 and is headquartered in Woodstock, Georgia.