MidnightTrader Earnings Play: Hovnanian Enterprises

Hovnanian Enterprises (HOV | Quote | Chart | News | PowerRating) is due with its Q3 results before the opening bell on Wednesday, Sept. 3, and analysts polled by Thomson Financial are expecting the company to report a loss of $1.57 per share on revenue of $703 million.

HOV has widened its share move eight times and narrowed its move seven times over the last four years of earnings that we've tracked. In the near term, the stock has widened in three of four quarters.

On June 4, 2008, HOV declined 6.9% in pre-market trade after reporting a weaker year-over-year Q2. The stock headed lower in that day's regular session, finishing down 10%.

On March 10, 2008, the stock gained 3.1% during evening trading as revenue below year ago but beats Street view. The gain swelled to 16.4% the next day.

On Dec. 19, 2007, HOV fell 6.5% after a sales beat but a loss per share much wider than the year-ago quarter. The regular session loss was a deeper 11.4%.

On Sept. 6, 2007, HOV gained 3% in evening activity after meeting Q3 sales estimates but reporting a loss from a profit a year ago. Shares gave up all those gains and more the following day. HOV ended the next regular session down 7.1%.

On May 31, 2007, HOV lost 1.8% in after hours trade when the company reported a wider Q2 loss than expected with revenues about meeting. Shares fell further the next day and closed the regular session down 4.5%.

On March 8, 2007, HOV edged up 2.9% in night trade after reporting a Q1 profit without items and forecasting a Q2 loss. However, shares could not hold onto that upward momentum and fell 4.1% the next day session.

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