Cavco Industries (CVCO) Announces Earnings Results, Beats Expectations By $0.64 EPS
Cavco Industries (NASDAQ:CVCO) announced its earnings results on Thursday. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.64, Briefing.com reports. Cavco Industries had a net margin of 7.34% and a return on equity of 14.62%. The firm had revenue of $241.10 million for the quarter, compared to analyst estimates of $226.96 million. During the same quarter last year, the business earned $2.40 earnings per share. Cavco Industries’s revenue was down .6% compared to the same quarter last year.
Shares of CVCO opened at $136.10 on Friday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 17.04 and a beta of 1.94. Cavco Industries has a fifty-two week low of $112.00 and a fifty-two week high of $261.80. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03.
CVCO has been the topic of a number of analyst reports. Craig Hallum decreased their target price on shares of Cavco Industries from $170.00 to $128.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 6th. BidaskClub upgraded shares of Cavco Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 31st.
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Cavco Industries Company Profile
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
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