Hovnanian and D.R. Horton Under Review: Glowing Industry Outlook
LONDON, January 23, 2013
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
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 4 ^th quarter of
2012, jumping five points from the 3 ^rd quarter and recording the highest
reading since back in the 1 ^st 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 4 ^th 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
D.R. Horton Inc. [ Free Report on DHI ] ^[ ^1] is set to announce its fiscal 1
^st quarter results on January 29 ^th , 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.
1.D.R. Horton Inc. Technical Analysis [
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