The Ryland Group, Inc
. (
RYL
) recently announced the opening of its newest architectural
collection of homes at Eagles Nest community in Zionsville.
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).
RYLAND GRP INC (RYL): Free Stock Analysis
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