Real estate developer Howard Hughes Holdings (NYSE: HHH) will be announcing earnings results this Thursday after market close. Here’s what to look for.
Howard Hughes Holdings beat analysts’ revenue expectations last quarter, reporting revenues of $1.12 billion, up 330% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is Howard Hughes Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Howard Hughes Holdings’s revenue to grow 59% year on year, improving from the 19.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Howard Hughes Holdings rarely misses Wall Street’s revenue estimates.
Looking at Howard Hughes Holdings’s peers in the consumer discretionary - real estate services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. JLL delivered year-on-year revenue growth of 11.8%, beating analysts’ expectations by 1.5%, and Newmark reported revenues up 12.7%, topping estimates by 2.2%. JLL traded up 17.9% following the results while Newmark was down 4.5%.
Read our full analysis of JLL’s results here and Newmark’s results here.
There has been positive sentiment among investors in the consumer discretionary - real estate services segment, with share prices up 4.7% on average over the last month. Howard Hughes Holdings is up 2.3% during the same time and is heading into earnings with an average analyst price target of $84 (compared to the current share price of $73.32).
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