Wedbush Equities Analysts Boost Earnings Estimates for Smith Douglas Homes Corp. (NYSE:SDHC)

Smith Douglas Homes Corp. (NYSE:SDHC) – Wedbush raised their Q3 2024 earnings per share (EPS) estimates for Smith Douglas Homes in a research report issued to clients and investors on Wednesday, August 14th. Wedbush analyst J. Mccanless now expects that the company will post earnings per share of $0.50 for the quarter, up from their previous estimate of $0.45. Wedbush currently has a “Neutral” rating and a $20.00 price target 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 posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $220.90 million for the quarter, compared to analysts’ expectations of $208.02 million. The firm’s revenue was up 21.7% on a year-over-year basis.

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

Smith Douglas Homes Stock Down 0.5 %

Shares of SDHC opened at $34.30 on Friday. The firm’s 50 day moving average price is $26.92 and its 200 day moving average price is $27.81. Smith Douglas Homes has a twelve month low of $20.55 and a twelve month high of $37.74.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds have recently bought and sold shares of SDHC. SYSTM Wealth Solutions LLC bought a new stake in shares of Smith Douglas Homes in the first quarter valued at approximately $76,000. RiverPark Advisors LLC bought a new stake in Smith Douglas Homes in the 2nd quarter valued at $120,000. Sandia Investment Management LP acquired a new stake in Smith Douglas Homes in the 1st quarter worth $178,000. Azzad Asset Management Inc. ADV acquired a new stake in Smith Douglas Homes in the 1st quarter worth $331,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Smith Douglas Homes during the 1st quarter worth about $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.