Smith Douglas Homes Corp. (NYSE:SDHC) Forecasted to Earn Q3 2024 Earnings of $0.50 Per Share

Smith Douglas Homes Corp. (NYSE:SDHC) – Equities research analysts at Wedbush lifted their Q3 2024 earnings estimates for shares of Smith Douglas Homes in a report released on Wednesday, August 14th. Wedbush analyst J. Mccanless now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their prior estimate of $0.45. Wedbush currently has a “Neutral” rating and a $20.00 target price on the stock. The consensus estimate for Smith Douglas Homes’ current full-year earnings is $1.67 per share.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $220.90 million during the quarter, compared to analyst estimates of $208.02 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year.

Several other research firms also recently commented on SDHC. Wells Fargo & Company increased their target price on Smith Douglas Homes from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday. Bank of America raised their price objective on shares of Smith Douglas Homes from $30.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 target price on shares of Smith Douglas Homes in a report on Thursday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.70.

Smith Douglas Homes Price Performance

NYSE SDHC opened at $34.30 on Friday. Smith Douglas Homes has a twelve month low of $20.55 and a twelve month high of $37.74. The business’s fifty day moving average is $26.92 and its 200 day moving average is $27.81.

Institutional Trading of Smith Douglas Homes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC acquired a new position in shares of Smith Douglas Homes in the 1st quarter worth approximately $76,000. RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes during the second quarter worth $120,000. Sandia Investment Management LP bought a new position in Smith Douglas Homes during the first quarter worth $178,000. Azzad Asset Management Inc. ADV acquired a new position in Smith Douglas Homes in the first quarter valued at $331,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Smith Douglas Homes during the first quarter valued at $565,000.

Smith Douglas Homes Company Profile

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.