Green Brick Partners Inc (NASDAQ:GRBK) Expected to Post Quarterly Sales of $174.42 Million

Equities analysts expect that Green Brick Partners Inc (NASDAQ:GRBK) will announce sales of $174.42 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Green Brick Partners’ earnings, with the highest sales estimate coming in at $183.84 million and the lowest estimate coming in at $165.00 million. Green Brick Partners posted sales of $155.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, August 5th.

On average, analysts expect that Green Brick Partners will report full year sales of $717.37 million for the current financial year, with estimates ranging from $680.98 million to $753.75 million. For the next fiscal year, analysts expect that the firm will report sales of $751.47 million, with estimates ranging from $724.42 million to $778.51 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Green Brick Partners.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. Green Brick Partners had a return on equity of 14.21% and a net margin of 8.05%. The business had revenue of $168.63 million for the quarter, compared to the consensus estimate of $157.51 million.

A number of analysts have issued reports on GRBK shares. Zacks Investment Research raised Green Brick Partners from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, March 5th. JMP Securities reaffirmed a “buy” rating and issued a $11.50 price objective on shares of Green Brick Partners in a research note on Wednesday, March 6th. TheStreet raised Green Brick Partners from a “c” rating to a “b-” rating in a research note on Tuesday, March 5th. Citigroup lifted their price objective on Green Brick Partners from $9.00 to $10.50 and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, BidaskClub raised Green Brick Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Green Brick Partners has an average rating of “Hold” and a consensus price target of $9.57.

In related news, Director Harry Brandler bought 5,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $8.97 per share, with a total value of $44,850.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 52.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. increased its stake in Green Brick Partners by 1.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,759,627 shares of the financial services provider’s stock worth $15,397,000 after acquiring an additional 17,857 shares during the last quarter. New Amsterdam Partners LLC NY acquired a new stake in Green Brick Partners during the first quarter worth $117,000. Diamond Hill Capital Management Inc. increased its stake in Green Brick Partners by 28.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,097,494 shares of the financial services provider’s stock worth $9,603,000 after acquiring an additional 241,013 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Green Brick Partners by 529.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,134 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 4,318 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Green Brick Partners by 14.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,318,372 shares of the financial services provider’s stock worth $9,545,000 after acquiring an additional 167,526 shares during the last quarter. 81.12% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:GRBK opened at $8.44 on Wednesday. Green Brick Partners has a 1 year low of $6.65 and a 1 year high of $10.70. The business has a 50 day moving average price of $8.99. The company has a market cap of $427.71 million, a P/E ratio of 6.16 and a beta of 1.65.

About Green Brick Partners

Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in Builder Operations and Land Development segments. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of townhomes, patio homes, single family homes, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

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