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Posts Tagged ‘market report’

Sunday Morning Weekly Recap Manufactured Housing Industry News, September 24 to October 1, 2017

October 1st, 2017 Comments off
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Featured image credit, MHProNews.

Tony, every week there is so much that happens, this [The Sunday Morning Headline News Recap] is an easy way for me to review the news, thank you for this [feature] and your team’s coverage of factory-built housing.

Our featured articles for September are available on the MHProNews.com home page.

FYI – and ICYMI if you aren’t already on our twice-weekly emailed headline news update, click here to sign up in seconds.

Thousands get our emails, and the open and click through rates – per MailChimp – blow away others in media and publishing.  The reason?  “Relevant!” said a regular on MHProNews.

To see the line-up of over 2-dozen featured articles for the month of September, along with the headline commentary, please click this link here.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

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What’s New On MHLivingNews

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September 24th, 2017

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Skyline Announces Q1 2017 Results

October 15th, 2016 Comments off
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Image collage and text by MHProNews, individual image credits are those of Skyline Homes, and are used here under fair use guidelines.

Skyline Corporation (NYSE:SKY), one of the larger and oldest independent producers of HUD Code manufactured homes, announced its results for Quarter 1 2017 this week.

The company reported net sales from continuing operations of $61,176,000, states their official report. That includes an increase of approximately 26% over net sales of $48,742,000 from continuing operations over the same quarter one year ago.

Additionally, they reported income from continuing operations of $744,000, as compared to a loss of $895,000 from continuing operations in the first quarter of fiscal 2016 – over a $1.5-million-dollar positive swing.

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Skyline Homes produces park model, modular homes and manufactured homes that are built to the federally preemptive standards of the HUD Code for manufactured housing. This stands in stark contrast to the mobile homes of yesteryear, to learn more, click here.

Skyline reported no income or loss from discontinued operations as compared to income of $61,000 from discontinued operations in the first quarter of fiscal 2016, and net income of $744,000 or $0.09 per share as compared to a net loss of $834,000 or $0.10 per share in the first quarter of fiscal 2016.

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A park model home by Skyline Homes. Park models are being used by some retailers and producers to target the ‘tiny house’ movement. These homes – depending on their size and configuration – may be built to the ANSI or HUD Code, so have advantages over tiny houses, which may be built to no code at all.

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Photo collage by MHProNews, original Rich Florea photo credit, LinkedIn. Skyline logo is their intellectual property, and is used here under fair use guidelines.

Our continued focus on growing sales and improving margins through disciplined operations generated favorable year-over-year results in the quarter,” commented President and Chief Executive Officer, Richard Florea.

While we are pleased with the progress we are making, we are committed to capitalizing on the opportunities we have.

Seeking Alpha and others have tracked their results, as has the Daily Business News.  MHProNews manufactured housing market report readers are already aware from our Daily Business News coverage that Skyline’s activity has yielded a 278% stock price increase YTD and the company’s stock price hitting a 52-week high.

That performance has drawn positive interest from hedge funds and private equity investors, see the links above.

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Skyline modular home, photo credit Skyline.  As factory-built housing industry professionals know, modular homes are built to state or local conventional housing building codes. A report contrasting modular and manufactured homes is linked here.

Skyline is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.  For yesterday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Editor’s Note: for our interview with Skyline’s Terry Decio, please click here.)

Skyline’s recent report – as a downloadable resource:

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

Why are Equities Impressed by Skyline Homes?

October 11th, 2016 Comments off
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Credits: Wikipedia, Binary Options, Equites.com

Skyline Corporation (NYSE:SKY) has seen its stock price on the rise recently, hitting a 52-week high of $12.72 last month. Daily Business News readers will recall that we covered the rise of Skyline’s stock in a recent story, here.

According to a story from equities, Skyline’s stock is up 278 percent, year to date.

Shares of Skyline have more than tripled from the $3.50-$4.50 per share range. The company has an average daily volume of 31,395 shares.

Skyline has a market capitalization of $114.37 million and a 52-week range between $2.37 and $13.89 per share.

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A park model home by Skyline Homes.

Equities also notes that in August, Skyline reported its financial results for the fourth quarter and fiscal year that ended May 31, 2016. Net sales from continuing operations for the fourth quarter were $56,651,000, an increase of 14 percent over net sales of $49,605,000 from the same quarter last year.

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Skyline 1 year view. Credit: Bloomberg.

Net income for the fourth quarter was $1,326,000 or $0.16 per share, compared to a net loss of $200,000 or $0.02 per share in the final quarter of fiscal 2015.

Net sales from continuing operations for fiscal 2016 were $211,774,000, an increase of 13 percent over net sales of $186,985,000 the year before. Net income for fiscal 2016 was $1,678,000 or $0.20 per share, compared to a net loss of $10,414,000 or $1.24 per share in fiscal 2015.

We are pleased that our progress in the product development and our overall operational improvements have translated to increased revenue and profits for the fourth quarter and the fiscal year,” Skyline President and Chief Executive Officer Richard Florea said in a statement.

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Skyline Homes logo, kitchen and CEO’s photo, credits – Skyline Homes.

The recent opening of our manufacturing facility in Elkhart, Indiana reflects the increased demand we are seeing for quality-built, value-laden products.

The next Skyline earnings call is scheduled for October 20th.

As previously reported by the Daily Business News, current SKY stakeholders include:

Skyline designs, produces and markets manufactured and modular housing models, as well as park models in the U.S. and Canada.  The company has been in the business since 1951. Another recent market report on Skyline is linked here. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

 

 

 

 

 


 

Skyline Corporation Hits 52-Week High. Is Near-Term Analysis Positive?

September 27th, 2016 Comments off
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Skyline Homes logo, manufactured home model kitchen and CEO’s photo, credits – Skyline Homes.

The stock of Skyline Corporation (NYSE: SKY) hit a 52-week high of $12.72 last week, according to a recent report from BarChart.

While the stock price has had its ups and downs throughout 2016, Skyline executives have kept a positive tone and goal-oriented approach, which has clearly paid off.  Their president stated their firm’s conviction that recent changes at the company mean ongoing, positive growth.

We are pleased that our progress in the product development and our overall operational improvements have translated to increased revenue and profits for the fourth quarter and the fiscal year,” Skyline President and Chief Executive Officer Richard Florea said in a statement.

The recent opening of our manufacturing facility in Elkhart, Indiana reflects the increased demand we are seeing for quality-built, value-laden products.”

Those efforts and their team’s positive approach appears to be paying solid dividends. According to Kentucky Post News, the 52-week high is a key milestone for every stock, because it shows positive momentum and is the time when some buyers make a move to come in.

Skyline Corporations’ stock price now has a target of $23.91, which is 88% above the $12.71 share price reported last week.

That bullish target indicates low risk for the company currently valued at $110 million dollars. An increase to the target price of $23.91 could add an additional $97.07 million dollars of value for investors.

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1 Year Ssnapshot of Skyline stock performance. Credit: Bloomberg.

The next Skyline earnings call is scheduled for October 20th.

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Skyline modular home, credit Skyline.

 

Current SKY stakeholders include Venator Capital Management (524,492 shares), Gendell Jeffrey L (759,591), Robotti Robert (64,700, which also has a hefty stake in Cavco), California-based Eam Investors, LLC (0.2% of the stock) and New York-based fund Teton Advisors, Inc. (47,796).

As regular Daily Business News readers already know, Skyline designs, produces and markets manufactured and modular housing models, as well as park models in the U.S. and Canada.  The company has been in the business since 1951. Another recent market report on Skyline is linked here. ##

(Image credits are as shown above.)

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RC WIlliams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

 

 

Skyline Corporation – Management Fund’s Major Move – Manufactured Housing Market Watch

September 12th, 2016 Comments off

ventormajormoveskylinecorpposteddailybusinessnewsmhpronewsVenator Capital Management Ltd has purchased up 466,541 additional shares in Skyline Corporation during the most recent quarter end, the firm said in a disclosure report filed with the SEC, reports TheFoundersDaily.

Venator’s website describes themselves in these terms, “Venator Capital Management Ltd. is a Toronto-based investment firm that strives to generate superior, risk-adjusted returns over time.”

Founder’s says that, “The investment management firm now holds a total of 524,492 shares of Skyline Corporation which is valued at $5,166,246.Skyline Corporation makes up approximately 4.41% of Venator Capital Management Ltd.’s portfolio.”

The Holdings Channel lists Skyline among the top 10 stocks Venator Capital Management Ltd. Has invested in.  That certainly signals Ventor’s confidence in Skyline.  Note that Ventor also reportedly has a somewhat larger position in manufactured housing industry supplier Patrick (PATK).

New Jersey Better Educational Savings Trust sold out all of its stake in SKY during the most recent quarter.

But other hedge funds that have stakes in Skyline Corporation (SKY) include:

  • Spark Investment Management – purchased 10,100 company shares during the most recent quarter which is valued at $99,485.
  • Eam Investors added SKY to its portfolio by purchasing 144,440 company shares during the most recent quarter which is valued at $1,425,623.

Skyline’s Friday closing results as reported by Bloomberg on the Daily Business News’ most recent stock report are as shown below.

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Bloomberg Ticker on the Daily Business News Market Report for Friday, 9.9.2016. To see the entire report, click here or the image above.

As manufactured housing industry professionals, investors and aficionados know, Skyline Corporation is one of the oldest and larger independent producers of manufactured, modular and park model homes.

Another recent market report on Skyline is linked here. ##

(Image credits as shown.)

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com and MHLivingNews.com.

Submitted by L. A. ‘Tony’ Kovach to the Daily Business News, MHProNews.com.

Sun Communities announces third quarter 2011 results

October 25th, 2011 Comments off

Sun_Communities,_Indian_Creek,_credit_MHProNews.com,_MHMSM.com,_manufactured_home_marketing_sales_management,_MHProNews has learned the third quarter 2011 results for Sun Communities, Inc. Sun (SUI) is a real estate investment trust (REIT) that owns and operates manufactured housing and recreational vehicle communities. Sun’s highlights include Adjusted Funds from Operations (“AFFO”)(1) excluding certain items described in this release was $0.75 per diluted share and OP Unit (“Share”) compared to $0.69 per Share in the third quarter of 2010, an increase of $0.06 per share or 8.7 percent. Same site Net Operating Income (“NOI”)(2) increased by 4.7 percent. Same site revenue producing sites increased by 199 sites, compared to an increase of 76 sites during the third quarter of 2010. “We are pleased to report that we have completed the integration of our acquisition properties into our operations model ahead of schedule. This has resulted in the Kentland portfolio, located entirely in Michigan, gaining 103 revenue producing sites in our first 90 days of ownership,” said Gary A. Shiffman, Chairman and Chief Executive Officer. “Based on these positive results and operational efficiencies already realized, we are confident this acquisition will continue to meet or exceed anticipated proforma results,” Shiffman added. “The rate of occupancy growth in our same site portfolio has tripled, from 0.5 percent in 2009 to an estimated 1.5 percent for 2011, and we believe this momentum will carry us to 90 percent occupancy in the next two to three years,” said Shiffman.  Sun Communities stock (SUI) is tracked by MHProNews.com here on the Daily Business News market report.

(Photo credit: MHMSM.com)