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Strategies & Market Trends : BAK - Investing
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To: Zoso_17 who wrote (3011)6/29/2012 2:56:10 PM
From: XoFruitCake   of 3249
 
Re: Homebuilders

Has the housing market already turned?
Revenue are growing may be 20-30% type of range yoy. Margin grow a little bit less. SG&A are moving up (so may be incentive is moving up.. HB typically put all marketing incentive in SG&A). Len earning is about 21 cents last Q ex the tax credit from 7 cents a year ago (some more credit will flow to LEN bottom line for the next 2Q but that is it). Tot and PHM seems to still in the losing money area (have not see their current Q yet). My guess is that stock market is way ahead of the sales on the ground. It is imporving but not to the extend that the stock want us to believe. It is one of those no long and no short sector for me.. The momentum make it highly dangerous for a short and the valuation and build in expectation make it highley dangerous to long....
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