S&P Equity Research Downgrades Ryland Group (RYL) to Hold
More News related to RYL
- Homebuilders Indicated Higher on Better-than-Expected Housing Start Data (XHB)
- Ryland's Presentation at the Eighth Annual JMP Securities Research Conference to Be Webcast Live
- Morning Movers 4/30: MGM, ENWV, BARE, SKX, OI, CLW Higher; SQNM, LOJN, SCSS, BBW, ISYS, RYL Lower
- Ryland Group (RYL) Misses Q1 View
- Ryland (RYL) Reports Q1 Loss of $1.76
S&P Equity Research downgrades Ryland Group (NYSE: RYL) from Buy to Hold.
S&P analyst, K. Leon, says, "RYL posts Q4 loss of $4.80 vs. loss of $2.05, after $242M in asset impairment charges for land inventory and land options, wider than our $0.17 loss estimate. Q4 revenue declined 32% and new orders were 7% lower. Our 2008 sales forecast calls for a 6% decline. To date, the company continues to report lower asset write-downs than its peers, but we believe more charges are likely in the first half of 2008. We are lowering our 2008 EPS estimate to $0.80 from $0.90. Applying 1.15X price-to-book, a premium to peers, we are maintaining our 12-month target price of $31."
The Ryland Group, Inc. (Ryland) primarily operates through two business segments: homebuilding and financial services. The homebuilding operations comprise approximately 98% of consolidated revenues of the Company during the year ended December 31, 2006.
Related Categories
DowngradesStocks Mentioned
+10.30Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
