In a research note released Wednesday, Sterne Agee analyst Jay McCanless downgraded Beazer Homes USA (NYSE: BZH) from Buy to Neutral, due to shares being in the five percent range of the firm's unchanged $22 price target.
In addition, the analyst is raising his full-year 2014 GAAP earnings per share estimate from $0.02 to $0.12, due to the sale of pre-owned rental homes stake to American Home 4 Rent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
McCanless is also lifting his full-year 2015 GAAP earnings per share estimate from $13.97 to $14.11, due to a five percent increase tax provision in the first three quarters of full-year 2015.
The analyst continued to comment, "from a fundamental perspective shares of the company are appropriately valued."
Shares of the company are down three percent Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.