Hovnanian and D.R. Horton Under Review: Glowing Industry Outlook
23 Jan, 2013, 13:00 GMT
LONDON, January 23, 2013 /PRNewswire/ --
The residential construction industry, which features companies such as D.R. Horton Inc. (NYSE:DHI) and Hovnanian Enterprises Inc. (NYSE:HOV) has been performing well over the last little while. StockCall trend and technical analysts have initiated coverage on these two companies and the free reports are currently within reach as soon as you sign up at
http://www.stockcall.com/analysis
Favorable interest rates have led to more individuals opting to purchase over renting, and strong remodelling demand has also helped drive companies forward. The industry currently has a lot going for it, including increases in remodelling, as well as single family and multi-family housing production.
According to information newly released by the National Association of Home Builders, (NAHB) the Remodelling Market Index hit 55 in the 4th quarter of 2012, jumping five points from the 3rd quarter and recording the highest reading since back in the 1st quarter of 2004. The NAHB also stated that professional remodelers reported increased work on overall home repair as well as large and small projects. Housing starts have also been on the rise, as the NAHB reported a nationwide increase of 12.1% for the month of December.
Individual company financials have also been positive. Last month Hovnanian reported its fiscal 4th quarter results, with total revenues soaring an impressive 42.6% year-over-year. The homebuilder saw deliveries, including unconsolidated joint ventures, grow by 40.6% to 1,750 homes during the fourth quarter of 2012 as opposed to a year ago. It also reported that its contract backlog at the end of October 31, 2012, including unconsolidated joint ventures, saw a growth of 34.4% to $742.2 million and 29.0% to 2,145 homes when compared to the same time period in 2011. The full technical analysis on Hovnanian is available for free once you register with us at
http://www.StockCall.com/HOV012313.pdf
D.R. Horton Inc. [Free Report on DHI][1] is set to announce its fiscal 1st quarter results on January 29th, 2013, and investors will be watching closely as in the previous quarter the company managed to grow its net income by an impressive 180% year-over-year. This huge jump in profit came in as a result of a surge in homebuilding revenues which leaped by 21% year-over-year.
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- D.R. Horton Inc. Technical Analysis [ http://www.StockCall.com/DRHortonInc012313.pdf ]
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