I just found this little write-up:
http://www.cnbc.com/id/20810847
Two things:
1. Apparently, the sale went well, at least in some regions. Like I said in the analysis, I think that will be good, at least in the short term.
2. Also, they said that they would release official sales figures Tuesday. Coupled with the Fed meeting, Tuesday will probably be a make-or-break day for Hovnanian, depending on the news.
It's going to be a wild week... like I said before, I like the long term prospects of the company; the short term is too unpredictable and risky.
Sunday, September 16, 2007
Hovnanian update
Labels: Fed, Federal Reserve, HOV, Hovnanian, stock market, stocks
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1 comment:
there is no telling if their book value will fall more if things stay the same so that could change the multiple and most conservative valuation on it. A lot of companies are getting hammered that aren't really that exposed to housing like Home Depot HD, big financials like Barclays BCS just caught my eye. they should be around for a few more years and grow the div even more.
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