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Ex-Dividend Reminder: PulteGroup, Camping World Holdings and Pool
Tuesday, March 13, 11:04 AM ET, by Market News Video Staff

On 3/15/18, PulteGroup Inc (PHM), Camping World Holdings Inc (CWH), and Pool Corp (POOL) will ...

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Hovnanian Narrows Loss in Q3

By Market News Video Staff, Thursday, September 8, 10:29 AM ET
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Homebuilder Hovnanian (NYSE:HOV) posted a narrower third quarter loss after the close of trading yesterday. The company said it lost $50.9 million, or $0.47 per share, compared to a loss of $72.9 million, or $0.92 per share, in last yearís third quarter. The loss was narrower than analysts expected as well, although Hovnanianís revenue fell short of analyst estimates, declining to $285.6 million from $380.6 million.

Hovnanian said net contracts rose 33% in the third quarter, and the contract cancellation rate fell to 18%, compared to 23% last year. The company delivered 1,112 homes in the third quarter, compared to 1,396 in last yearís third quarter. CEO Ara Hovnanian noted that the company sees very few indicators that any recovery in the housing market has begun, so the company is taking steps to run based on current market conditions, with a focus on maintaining liquidity.

Hovnanian shares are trading flat today, while the sector trades lower.Toll Brothers (NYSE:TOL) is lower by 2.2%, PulteGroup (NYSE:PHM) is down 2.9%, DR Horton (NYSE:DHI) fell 1.5% and Lennar (NYSE:LEN) lost 1.3%.


This Article's Word Cloud:   Brothers   Homebuilder   Horton   Hovnanian   Lennar   NYSE   PulteGroup   Toll   after   although   analyst   analysts   based   begun   cancellation   close   company   compared   conditions   contract   contracts   current   declining   delivered   down   estimates   expected   fell   flat   focus   from   homes   housing   indicators   last   liquidity   loss   lost   lower   maintaining   market   million   narrower   quarter   said   share   that   third   trading   year
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