Thursday, May 02, 2013 9:44:22 PM
By Alex Planes
May 2, 2013
What: Shares of Beazer Homes (NYSE: BZH ) are up over 10% today in spite of a mixed earnings report, as investors seem more interested in big revenue growth than in steep losses at the moment.
So what: Beazer reported revenue of $287.9 million, which was a 50% year-over-year improvement, but posted a loss of $0.78 per share. The top-line number came in well ahead of Wall Street's expectation of $254.3 million, but Beazer's loss was $0.08 worse than the $0.70 loss per share analysts sought. More optimistically, Beazer now expects to turn a profit in the fourth quarter, which was "an unexpected positive catalyst" according to Jay McCanless of Sterne Agee. McCanless raised his price target to $22 per share, a 19% upside from today's close. The note of a substantially higher backlog in that profit forecast also cheered the market.
Now what: Beazer is inching toward profitability, but it isn't there yet. Consider that it will take $0.62 in earnings per share to give Beazer a P/E of 30, once it reaches McCanless' price target. That would be a major turnaround from today's report, but who knows -- it might be possible next year. This could be a catalyst for the stock to break out of its flat trading range, but it's worth investigating whether or not such a move would be justified over the long term.
Contingit stercore.
Recent BZH News
- Beazer Homes to Present at the 32nd Annual Deutsche Bank Leveraged Finance Conference on September 25, 2024 • Business Wire • 09/23/2024 06:14:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 12:47:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/08/2024 09:14:07 PM
- Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] • Edgar (US Regulatory) • 08/07/2024 08:10:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 11:10:49 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 11:08:27 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 11:07:42 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/01/2024 08:54:47 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/01/2024 08:16:51 PM
- Beazer Homes Reports Third Quarter Fiscal 2024 Results • Business Wire • 08/01/2024 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2024 08:10:28 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/16/2024 08:45:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/16/2024 08:07:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/15/2024 08:50:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/12/2024 08:26:57 PM
- Beazer Homes USA, Inc. to Webcast Its Fiscal Third Quarter Results Conference Call on Thursday, August 1, 2024 • Business Wire • 07/08/2024 10:30:00 AM
- Beazer Homes USA, Inc. Announces the Release of its 2023 Sustainability Report • Business Wire • 06/20/2024 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 08:15:37 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/12/2024 08:44:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:07:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:12:55 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 08:33:35 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/06/2024 08:08:18 PM
- Beazer Homes Reports Second Quarter Fiscal 2024 Results • Business Wire • 05/01/2024 08:15:00 PM
- Beazer Homes Acquires 174 Acres in Marietta, Georgia; 591 Homes Planned • Business Wire • 05/01/2024 01:00:00 PM
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