Green Brick Partners (NASDAQ:GRBK) Announces Quarterly Earnings Results

Green Brick Partners (NASDAQ:GRBK) announced its quarterly earnings results on Wednesday. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $1.77 by $0.55, Briefing.com reports. The firm had revenue of $560.63 million during the quarter, compared to the consensus estimate of $501.51 million. Green Brick Partners had a net margin of 17.78% and a return on equity of 26.10%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS.

Green Brick Partners Stock Performance

NASDAQ GRBK opened at $71.77 on Friday. The company has a fifty day moving average of $60.50 and a 200-day moving average of $56.83. Green Brick Partners has a 52-week low of $37.31 and a 52-week high of $78.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 8.70. The company has a market capitalization of $3.22 billion, a P/E ratio of 10.84 and a beta of 1.80.

Insider Activity at Green Brick Partners

In other news, CFO Richard Arthur Costello sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.77, for a total value of $2,270,800.00. Following the completion of the sale, the chief financial officer now directly owns 52,116 shares in the company, valued at approximately $2,958,625.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Green Brick Partners news, CFO Richard Arthur Costello sold 40,000 shares of Green Brick Partners stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.77, for a total value of $2,270,800.00. Following the transaction, the chief financial officer now directly owns 52,116 shares of the company’s stock, valued at approximately $2,958,625.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Einhorn sold 1,000,000 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $57.80, for a total transaction of $57,800,000.00. Following the sale, the director now directly owns 1,302,690 shares of the company’s stock, valued at approximately $75,295,482. The disclosure for this sale can be found here. 44.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GRBK. B. Riley lifted their price objective on Green Brick Partners from $62.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday. Wedbush reissued a “neutral” rating and set a $49.00 price objective on shares of Green Brick Partners in a report on Thursday, May 2nd.

Green Brick Partners Company Profile

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.