BZH - Beazer Homes USA Inc - Page 10

taking it hard the past couple days...back to test recent 2.62 resit area

Beazer Homes Reports Second Quarter Fiscal 2012 Results
1 days 8 hours 49 minutes ago - BusinessWire via Comtex
Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today announced its financial results for the quarter ended March 31, 2012.

"I was very pleased with our second quarter results," said Allan Merrill, CEO of Beazer Homes. "We generated significant year-over-year increases in new home orders and home closings, reflecting both the initial operational benefits of our path-to-profitability strategies and gradually improving conditions in the housing market. We remain hopeful, but cautious, about the prospects for a sustained market recovery, as a number of factors continue to pose challenges for prospective homebuyers. Nevertheless, we are committed to taking the steps necessary to return to profitability as soon as possible."

Summary results of the quarter are as follows:

As of March 31, 2012

-- Total cash and cash equivalents: $534.4 million, including unrestricted cash of approximately $257.0 million

-- Stockholders' equity: $218.4 million, not including $9.4 million of mandatory convertible subordinated notes, which automatically convert to common stock at maturity in 2013

-- Total backlog from continuing operations: 1,975 homes with a sales value of $465.0 million, compared to 1,396 homes with a sales value of $335.2 million as of March 31, 2011

-- Land and lots controlled: 25,617 lots (83.8% owned), a decrease of 17.1% from March 31, 2011

Quarter Ended March 31, 2012 - Results from Continuing Operations (unless otherwise specified)

-- Total new orders: 1,512 homes, a 29.0% increase from fiscal 2011 -- Cancellation rates: 22.5%, compared with 20.0% in fiscal 2011

-- Total home closings: 844 homes, a 49.9% increase from fiscal 2011

-- Revenue: $191.6 million, compared to $125.7 million in fiscal 2011 -- Average sales price from closings: $224.7 thousand, compared with $216.3 thousand in fiscal 2011

-- Gross profit margin: 10.5%, compared to (1.1)% in fiscal 2011. These margins were impacted by $1.2 million and $17.8 million in fiscal 2012 and fiscal 2011, respectively, for impairments and option contract abandonments. -- Homebuilding gross profit margin, excluding impairments and abandonments: 10.9%, compared to 12.4% in fiscal 2011

-- Homebuilding gross profit margin, excluding impairments, abandonments and interest amortized to cost of sales: 17.5%, compared to 19.2% in fiscal 2011. Our margin this quarter benefited from approximately $3.2 million of bond reimbursements and product liability and warranty payment improvements. Excluding these items, our margin would have been 15.8%.

-- Net loss from continuing operations: $(37.9) million, or a diluted loss per share of $(0.48), including non-cash pre-tax charges of $1.2 million for inventory impairments and a loss on debt extinguishment of $2.7 million. This compared to a loss from continuing operations in the second quarter of fiscal 2011 of $(53.8) million, or $(0.73) per share, which included non-cash pre-tax charges of $17.8 million for inventory impairments.

-- Net Loss: $(39.9) million (including a loss from discontinued operations of $(2.1) million), compared with a net loss of $(53.8) million for fiscal 2011 (including income from discontinued operations of $0.02 million)

-- Total Company land and land development spending: $41.9 million, compared with $61.1 million in fiscal 2011

S&P REITERATES HOLD RECOMMENDATION ON SHARES OF BEAZER HOMES
1 days 4 hours 2 minutes ago - Standard & Poor's
Excluding one-time items, Mar-Q net loss of $0.43, vs. a $0.50 loss, is $0.03 narrower than our estimate. Sales rose 52% from depressed levels, and we expect a modest recovery in housing to drive margin gains in FY 12 (Sep.). We are narrowing our FY 12 and FY 13 net operating loss estimates to $1.63 and $1.23 from $1.78 and $1.36, and are raising our 12-month target price by $0.50 to $3.50 after applying a price-to-book ratio of 1.3X, significantly below peers but well above historical averages. We note BZH's high relative debt level compared to some homebuilder peers

if 2.60 cant hold up it looks like it could land somewhere btwn 2.00-2.50

BZH much weaker than XHB recently

secondary offering....

Beazer Homes USA, Inc. Announces Proposed Public Offerings of Common Stock and Tangible Equity Units
36 minutes ago - BusinessWire via Comtex
Beazer Homes USA, Inc. (NYSE: BZH) announced today that it has commenced concurrent underwritten public offerings of common stock and tangible equity units.

The Company is offering $75 million of its common stock and 3,000,000 (equal to $75 million) of its tangible equity units in the concurrent offerings. The units are comprised of a prepaid stock purchase contract and an unsecured senior amortizing note due 2015. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the tangible equity units sold to cover over-allotments and a 30-day option to purchase up to an additional 15% of the shares of common stock. Neither offering is contingent upon completion of the other offering. The Company's common stock is listed on the New York Stock Exchange under the symbol "BZH," and the Company intends to apply to list the tangible equity units on the New York Stock Exchange under the symbol "BZT."

The Company intends to use the net proceeds from these concurrent offerings for growth capital, including for approximately $100 million of potential land investments in Florida, California, Texas, North Carolina and Arizona, and for general corporate purposes, including the repayment of outstanding indebtedness.

Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., Deutsche Bank Securities Inc. and UBS Securities LLC are serving as the joint book-running managers for the offerings and KKR Capital Markets LLC and Moelis & Company LLC are serving as co-managers for the offerings.

The shares of common stock and the tangible equity units, including the underlying stock purchase contracts and senior amortizing notes, will all be issued pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (SEC). Preliminary prospectus supplements related to the offerings have been filed with the SEC and are available free of charge on the SEC's website at http://www.sec.gov. Copies of the preliminary prospectus supplements and the accompanying base prospectus related to the common stock and tangible equity units offerings may be obtained from (i) Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by telephone at +1 (800) 221-1037, or by email at newyork.prospectus@credit-suisse.com; (ii) Goldman, Sachs & Co., via telephone: (866) 471-2526, email: prospectus-ny@ny.email.gs.com, or standard mail at Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attn: Prospectus Department; (iii) Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836 or by telephone at: (800) 503-4611, or by email at: prospectus.CPDG@db.com; or (iv) UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Department, or by calling (888) 827-7275. Investors should read these documents for more complete information prior to investing.

Hmmmm,its funny that they do not mention the share price of the offering. Either way,the stock looks to be ready for a tumble with RSI over 70 and money flow above 80.

This article on BZR and Fitch raising their debt ratings came out 2 days ago. Nowhere in the article do they mention their debt to equity ratio of 8.05 meaning that for every dollar in shareholder equity,they must borrow  $8 , and, at high interest to boot. Also not mentioned is 1.5 billion in debt. I am surprised short interest is not higher  than the  now 18 percent.

 

The very next day news comes out that BZR may do a1 for 5 reverse split.   

 

 

 

http://finance.yahoo.com/news/fitch-raises-debt-ratings-beazer-220843631.html

 

What would happen if you short the stock lets say at $3 for 1000 shares and it did a reverse split for 5 to 1? Does that mean you are only short 200 shares now but then the stock would rise to $15 so your total price is still equal but you are more open to infinite losses since if the stock would rise to $20, $25, etc. but then again if it fell to $5 you net profit $2000? Let me know if I pretty much got it.

Yeah,you've got it. You thinking about shorting this?

careful here...recent secondary offering and now a reverse split

Secondary Public Offering Filed On 07/9/12
Registration Period 2 Day(s)
Offer Date 07/11/12
Deal SizeView Deal Breakdown 22,189,349
Price Range --
Deal Value $75.0M
Trade Date 07/11/12
Settlement Date 07/16/12
Priced 22.0M Shares @ $2.90
Revenue $191.6M
Net Income -$39.9M
Deal Underwriters
Credit Suisse; Goldman, Sachs & Co.; Deutsche Bank Securities; UBS Invest Bank; KKR; Moelis & Company
K: Thousands, M: Millions, B: Billions

Beazer Homes USA, Inc. Announces 1-for-5 Reverse Stock Split; Will Begin Split-Adjusted Trading on NYSE Tomorrow
17 hours 51 minutes ago - BusinessWire via Comtex
Beazer Homes USA, Inc. (NYSE: BZH) announced today the effectiveness of a 1-for-5 reverse split of its common stock. Shares of Beazer Homes common stock will begin trading on a split-adjusted basis on the New York Stock Exchange under the Company's existing symbol "BZH" upon the opening of the NYSE on October 12, 2012.

Beazer Homes' stockholders approved the reverse stock split at a special meeting of stockholders held today. As a result, every five shares of Beazer Homes common stock outstanding have been combined into one share of common stock, reducing the number of shares of Beazer Homes common stock outstanding from approximately 123 million to approximately 24.6 million. In addition, the number of authorized shares will be reduced from 180 million shares to 100 million shares.

After discussion with several institutional stockholders, the Company's Board of Directors has determined that it will propose and recommend at its upcoming 2013 annual meeting a further decrease in the number of shares of common stock authorized for issuance from 100 million to 63 million.

No fractional shares will be issued in connection with the reverse stock split. Instead, Beazer Homes' transfer agent will aggregate all fractional shares that otherwise would have been issued as a result of the reverse stock split and those shares will be sold into the market. Stockholders who would have held a fractional share of Beazer Homes common stock will receive a cash payment from the net proceeds of that sale in lieu of such fractional share.

Upon the opening of the NYSE on October 12, 2012, shares of Beazer Homes common stock will trade under a new CUSIP number (07556Q 881) and a new ISIN (US07556Q8814).

Additional information regarding the reverse stock split, including the treatment of fractional shares and exchange of stock certificates, can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission on September 7, 2012, copies of which are available at www.sec.gov.

I'm sorry as I'm new to this... but BZH going up 380% is because the reverse stock split? So for every 5 shares you owned is only equal to 1 now?
I was just holding the stock about 3 days ago, i seen that it went up $14 a share on my Iphone without seeing the news i almost puked all over the floor!!!!!!!!!!

yea sorry...you didnt make anything based on the split...you have 1/5th the amount of shares worth 5x as much each share...same dollar amount