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Ryland Launches Architectural Homes
by Zacks Equity ResearchAugust 29, 2012 | Comments : 0 Recommended this article: (0)
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These homes with a historical theme feature finely crafted exteriors in Craftsman, Greek Revival and Italianate styles. The homes are spacious and have open floor plans. These architectural homes will be introduced for the first time at the high-end Eagle Nest community.
Also recently, Ryland homes announced the opening of new McKinley model homes at Sugar Grove community in Plainfield, Indiana. The dual living space of these affordable homes is over 2,200 square feet; and offer kitchen that has a large great room and a morning room on the either sides at the main level, and master bedroom, laundry room and three additional bedrooms on the first floor.
Ryland delivered solid first quarter 2012 results. Loss per share of 6 cents narrowed from the Zacks Consensus Estimate for a loss of 7 cents, as well as the prior-year loss of 44 cents. Better housing revenues and solid cost management led to the narrower loss.
Ryland delivered total revenue of $215.9 million, up 28.7% from the year-ago quarter, driven by better homebuilding revenues. Homebuilding revenues totaled $209.5 million, up 29.8% year over year, driven by new community openings and significant double-digit increases in unit closings and new home orders. Net home orders jumped 46.4%, fueled by increased sales volume.
Management seems confident that the company can play to its strengths, given the recovery in the housing market and improving demand, supported by its cost-saving efforts and improving community count and absorption levels.
Based in Southern California, Ryland is a leading homebuilder, manufacturing single-family attached and detached houses. The company operates in 13 states across U.S. and also provides mortgage finance services.
We currently have a Neutral recommendation on Ryland. The stock carries a Zacks #3 Rank (a short-term ‘Hold rating).
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