Green Brick Partners (NASDAQ:GRBK) Posts Earnings Results, Beats Estimates By $0.31 EPS

Green Brick Partners (NASDAQ:GRBK) released its earnings results on Wednesday. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31, Briefing.com reports. The company had revenue of $447.34 million for the quarter, compared to analyst estimates of $440.44 million. Green Brick Partners had a net margin of 17.13% and a return on equity of 24.40%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS.

Green Brick Partners Stock Up 2.9 %

Shares of GRBK stock traded up $1.61 on Friday, hitting $56.64. The stock had a trading volume of 530,272 shares, compared to its average volume of 326,537. Green Brick Partners has a 52-week low of $37.31 and a 52-week high of $61.62. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 8.59 and a beta of 1.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.44 and a current ratio of 8.70. The stock’s 50 day moving average is $55.84 and its 200-day moving average is $51.37.

Insiders Place Their Bets

In other Green Brick Partners news, Director Richard S. Press purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $51.84 per share, for a total transaction of $51,840.00. Following the completion of the purchase, the director now owns 88,063 shares in the company, valued at approximately $4,565,185.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 44.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GRBK shares. StockNews.com cut Green Brick Partners from a “buy” rating to a “hold” rating in a research note on Sunday, March 17th. Wedbush reissued a “neutral” rating and issued a $49.00 price objective on shares of Green Brick Partners in a research report on Thursday. Finally, B. Riley increased their price objective on Green Brick Partners from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Friday.

Green Brick Partners Company Profile

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.