Residential Construction

(DHI) D.R. Horton Upped to Outperform

On May 15, we upgraded our recommendation on D.R. Horton Inc. (DHI) from Neutral to Outperform following solid results in the second quarter of fiscal 2013.D.R. Horton now carries a Zacks Rank #1 (Strong Buy).

Why the...

1Jul2013 | | Comments Off on (DHI) D.R. Horton Upped to Outperform | Continued

(RYL) Ryland Group Unveils New Community

California-based homebuilder Ryland Group Inc. (RYL) recently opened a new community named Enclave, which is located at Aloma in Winter Park, Florida. In addition, the company declared its quarterly dividend.

The Enclave, comprising...

16May2013 | | Comments Off on (RYL) Ryland Group Unveils New Community | Continued

(LEN) Lennar Sells Senior Notes

Lennar Corporation (LEN) recently sold senior notes worth $50 million due on Nov 15, 2022 to initial purchasers, who in turn will resell the senior notes to qualified institutional buyers. The senior notes, which carry an interest...

27Apr2013 | | Comments Off on (LEN) Lennar Sells Senior Notes | Continued

(TOL) Toll Brothers to Expand in Western U.S.

Toll Brothers, Inc. (TOL), a leading homebuilder in the US, recently contracted to acquire 387 lots at Anthem Ranch in Denver, CO. Anthem Ranch will have 1,700 single family homes constructed under Toll Brothers’ brand Active...

12Mar2013 | | Comments Off on (TOL) Toll Brothers to Expand in Western U.S. | Continued

(MTH) Meritage Homes Upped to Strong Buy

On January 12, Zacks Investment Research upgraded homebuilding company Meritage Homes Corporation (MTH) to a Zacks Rank #1 (Strong Buy), driven by consistent strong performance for the past two quarters.

Why the Upgrade?...

16Jan2013 | | Comments Off on (MTH) Meritage Homes Upped to Strong Buy | Continued

(PHM) PulteGroup on a Tight Rope

We have maintained our Neutral recommendation on PulteGroup Inc. (PHM) appraisal of the third quarter results.

PulteGroup’s third quarter 2012 adjusted earnings of 27 cents per share beat the Zacks Consensus Estimate by 35%....

1Jan2013 | | Comments Off on (PHM) PulteGroup on a Tight Rope | Continued

(LEN) U.S. Homebuilder Confidence Edging Up

On Tuesday, fresh data released by the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), which reflects builder confidence in the market for newly built, single-family homes, posted a solid 26 point year-over-year gain to 47 for December. On a sequential basis, the index...

23Dec2012 | | Comments Off on (LEN) U.S. Homebuilder Confidence Edging Up | Continued

(PHM) Stock Market News for October 18, 2012 – Market News

Benchmarks closed in the green yesterday propelled by better-than-expected housing data. This was the third-consecutive trading day that the markets secured a seat in the positive zone. However, disappointing earnings results from certain tech bellwethers eroded some of the day’s gains. The housing...

30Oct2012 | | Comments Off on (PHM) Stock Market News for October 18, 2012 – Market News | Continued

(KBH) Stock Market News for October 25, 2012 – Market News

Benchmarks lost out on their initial gains on Wednesday and ended in the red after corporate results dampened sentiment yet again. Also, the Federal Reserve’s announcement that the U.S. economy still needs a push to increase growth and improve the employment situation kept the cautious tone alive....

25Oct2012 | | Comments Off on (KBH) Stock Market News for October 25, 2012 – Market News | Continued

(LEN) Homebuilding Stock Review and Outlook – September 2012 – Industry Outlook

With a gradual recovery in the overall economy, the homebuilding industry is finally seeing signs of stabilization in 2012. The downturn during 2006-2007 had hit the homebuilding sector hard.

We believe that the housing market is improving at a moderate pace, benefiting from an increase in...

18Sep2012 | | Comments Off on (LEN) Homebuilding Stock Review and Outlook – September 2012 – Industry Outlook | Continued

(TOL) Toll Brothers 2012 Third Quarter Earnings Preview

Toll Brothers, Inc. (TOL), one of the leading luxury homebuilders in the U.S., is all set to unveil its third quarter 2012 results on August 22, 2012, after the market closes. The Zacks Consensus Estimate is  calling for 18 cents...

21Aug2012 | | Comments Off on (TOL) Toll Brothers 2012 Third Quarter Earnings Preview | Continued

(MTH) Meritage Homes Issues Notes

Home builder Meritage Homes Corporation (MTH) recently announced that it will redeem its 6.25% senior notes due 2015 carrying an aggregate principal amount of $285 million.

In order to pay off this debt, the company will raise...

19Apr2012 | | Comments Off on (MTH) Meritage Homes Issues Notes | Continued

(KBH) KB Home – Bear of the Day

KB Home (KBH) faces a fragile housing market. Increased availability of housing alternatives may keep the company’s earnings under pressure. Furthermore, the company’s housing market is highly concentrated, which poses...

5Mar2012 | | Comments Off on (KBH) KB Home – Bear of the Day | Continued

(BZH) Stock Market News for December 30, 2011 – Market News

Better housing data and a drop in four-week moving average of initial claims joined hands to guide the benchmarks higher yesterday, providing investors another hope that S&P 500 might just end 2011 on a positive note. With yesterday’s gains, the Dow washed out the losses it suffered on Wednesday...

3Jan2012 | | 0 comments | Continued

(TOL) Toll Brothers Takes Over CamWest

Toll Brothers Inc. (TOL) recently announced that it has acquired CamWest Development LLC. The company did not disclose the financial terms of the deal but stated that it will start reaping benefits from the acquisition in the upcoming...

23Nov2011 | | 0 comments | Continued

(DHI) U.S. Housing Starts Slip Less Than Expected

We got some fairly good news on the housing front this morning. Housing Starts fell in September to a seasonally-adjusted annual rate of 628,000 from 630,000 in August, a drop of 0.3%. But the number was much better than the expected level of 603,000. However, the September numbers...

21Nov2011 | | 0 comments | Continued

(DHI) Weakness Prevails in U.S. Housing

The weaknesses prevailing in the housing and construction industry in the U.S. have once again come to the fore as the National Association of Home Builders lowered its September outlook.

Poor employment growth, increased availability of foreclosed homes, strict mortgage lending rules and lower...

6Oct2011 | | 0 comments | Continued

(DHI) U.S. New Home Sales Move Down Slightly

New Home Sales in August fell by 2.3% from July to a rate of 295,000. Relative to a year ago, sales are up 6.1%.

While the year-over-year rebound is more than welcome, it is still a very dismal rate of new home sales. However, there was an upward revision to the July numbers of 4,000 to 302,000....

27Sep2011 | | 0 comments | Continued

(DHI) U.S. Housing Starts Down – Permits Up

Housing Starts fell in August to a seasonally adjusted annual rate of 571,000 from 601,000 in July, a decrease of 5.0%. However, the July numbers were revised lower from 604,000, so it is possible to see the decrease as 34,000, or 5.5%. The number was also slightly below the expected level of 575,000.

Relative...

21Sep2011 | | 0 comments | Continued

(TOL) Toll Brothers Misses Profit Estimate

Toll Brothers Inc. (TOL) reported a net income of $42.1 million or 25 cents per share during the third quarter of fiscal 2011 compared with a net income of $27.3 million or 16 cents per share in the year-ago quarter. Reported income...

26Aug2011 | | 0 comments | Continued

(DHI) U.S. New Home Sales Still Awful

New Home Sales in May fell by 1.0% from May, to a rate of 312,000. Relative to a year ago, sales are up 1.6%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. Also, there was a downward revision to the May numbers of 4,000 to 315,000. Thus, relative to where...

31Jul2011 | | 0 comments | Continued

(DHI) U.S. Housing Starts and Building Permits Rise

Housing Starts rose in June to a seasonally-adjusted annual rate of 629,000 from 549,000 in May, an increase of 14.6%.

However, the May numbers were revised lower from 560,000, so it is possible to see the increase as 69,000, or 12.3%. Relative to a year ago they are up 11.8%.

Quite...

20Jul2011 | | 0 comments | Continued

(LEN) Lennar Buys Distressed Debt

Lennar Corp. (LEN) recently acquired the distressed debt on the Century Grand project in Doral through one of its affiliates named Flordade LLC. State. The mortgaged property, which was purchased for an undisclosed sum, spans almost...

8Jul2011 | | 0 comments | Continued

(KBH) KB Home’s Loss Widens

KB Home (KBH) reported a net loss of $68.5 million or 89 cents per share in the second quarter of fiscal 2011, compared with a net loss of $30.7 million or 40 cents per share a year ago.

However, excluding inventory impairments...

29Jun2011 | | 0 comments | Continued

(KBH) KB Home Second Quarter 2011 Earnings Preview

KB Home (KBH) is scheduled to release its second quarter 2011 results before the market opens on June 29, 2011. Los Angeles, California-based KB Home realized a loss of 49 cents per share in the first quarter, which is wider than the...

29Jun2011 | | 0 comments | Continued

(TOL) Toll Brothers Faces Rating Cut

Toll Brothers Inc. (TOL) has been recently downgraded by Standard & Poor’s Rating Services to a “BB-plus” status from a prior “BBB-minus.” The cut in corporate credit rating implies the company’s weak prospects...

29Jun2011 | | 0 comments | Continued

(TOL) U.S. Housing: Past and Future

I recently came across this piece written by Larry Kudlow, the host of two shows on CNBC. It is from June 20, 2005:

“Homebuilders led the stock parade this week with a fantastic 11 percent gain. This is a group that hedge funds and bubbleheads love to hate. All the bond bears have been...

28Jun2011 | | 0 comments | Continued

(LEN) Lennar’s Second Quarter Beats Estimates

Lennar Corporation (LEN) reported net earnings of $13.8 million or 7 cents per share in the second quarter of fiscal 2011 ended May 31, 2011, compared with $28.7 million or 15 cents per share in the year-ago quarter. Reported earnings...

23Jun2011 | | 0 comments | Continued

(DHI) New Homes Sales Down Less than Expected

New Home Sales in May fell by 2.1% from April, to a rate of 319,000. Relative to a year ago, sales are up 13.5%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales.

Offsetting the decline was an upward revision to the April numbers of 3,000 to 326,000....

23Jun2011 | | 0 comments | Continued

(LEN) Lennar Second Quarter 2011 Earnings Preview

Lennar Corp. (LEN) announced that it will release its second quarter 2011 results before the market opens on June 23, 2011. Miami, Florida-based Lennar Corp. earned a profit of 14 cents per share in the first quarter, comprehensively...

22Jun2011 | | 0 comments | Continued