Beazer Homes USA Inc (NYSE:BZH), the eighth-largest homebuilder in the United States, posted a fourth-quarter loss, partly hurt by a fall in home closings and net new home orders, but added that it is well positioned to participate in the "eventual housing recovery".
Beazer Homes USA, Inc (BZH) reported that it swung to a 4th quarter loss from continuing operations of $57.4 million, or 78 cents per share, compared to a profit of $33.5 million, or 86 cents per share, a year earlier.
Revenue fell to $274.77 million, down from $365.59 million a year earlier.
Beazer Homes USA, Inc. (BZH) ended the previous trading session at $4.33 per share. Analysts covering the company's stock have a consensus price target of $5.25 per share.
For the July-September quarter, Beazer (BZH) posted a net loss of $59.5 million, or 81 cents per share, compared with a net profit of $33.8 million, or 84 cents per share, a year ago.
Beazer (BZH) also faces a tough comparison on new home orders because the builder racked up 1,012 orders in the prior-year quarter, thanks largely to a boost from an earlier round of the homebuyer tax credit.
Beazer Homes (BZH) operates in 16 states, and designs, sells and builds single-family and multi-family homes.
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Disclosure: "No Positions"