KB Home (NYSE:KBH) Sets New 52-Week Low – Here’s What Happened

KB Home (NYSE:KBH)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $48.04 and last traded at $48.1170, with a volume of 521239 shares traded. The stock had previously closed at $51.44.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KBH. Royal Bank Of Canada dropped their price target on shares of KB Home from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 25th. The Goldman Sachs Group decreased their price objective on KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. UBS Group dropped their target price on KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Barclays cut their target price on KB Home from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company decreased their price target on KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.17.

KB Home Stock Down 6.5%

The company has a market capitalization of $3.01 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 8.97 and a beta of 1.42. The business’s 50-day moving average is $54.97 and its two-hundred day moving average is $59.00.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted $1.49 EPS. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. Analysts predict that KB Home will post 3.13 EPS for the current year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. KB Home’s dividend payout ratio is currently 25.38%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KBH. First Horizon Corp grew its stake in KB Home by 178.9% in the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after purchasing an additional 322 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of KB Home by 73.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock worth $33,000 after purchasing an additional 250 shares during the period. Fulcrum Asset Management LLP purchased a new position in shares of KB Home in the 3rd quarter worth about $36,000. Aventura Private Wealth LLC purchased a new position in shares of KB Home in the 4th quarter worth about $46,000. Finally, Rothschild Investment LLC grew its position in KB Home by 391.0% during the fourth quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock valued at $46,000 after buying an additional 653 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.