Hovnanian Enterprises, Inc. Preferred Stock 7.625% Perpetual (HOVNP)
Market Closed
16 Oct, 08:00 PM
NASDAQ (NMS) NASDAQ (NMS) Primary $
16. 36
-0.49
-2.908%
$
2.68B Market Cap
6.36 P/E Ratio
1.91% Div Yield
12,800 Volume
0 Eps
$ 16.85
Previous Close Investors:
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Hovnanian Enterprises: Preferred Stock Warrants Caution (Rating Downgrade)
Hovnanian Enterprises' preferred shares are downgraded to ‘buy' due to deteriorating housing market fundamentals and rising interest rate risks. HOVNP offers a 9.69% yield and trades at a 26.4% discount to liquidation value, but non-cumulative status increases risk in adverse scenarios. The company's net leverage has improved, but recent quarters show declining deliveries, higher cancellations, and lower backlog pricing.
Seekingalpha | 1 month ago
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