ValuEngine Downgrades Kennedy-Wilson (KW) to Strong Sell

ValuEngine lowered shares of Kennedy-Wilson (NYSE:KW) from a sell rating to a strong sell rating in a research report released on Monday.

Separately, JMP Securities upgraded shares of Kennedy-Wilson from a market perform rating to an outperform rating and set a $22.00 price objective for the company in a research report on Friday, March 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $26.00.

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KW opened at $17.85 on Monday. Kennedy-Wilson has a twelve month low of $15.95 and a twelve month high of $22.65. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 3.59. The firm has a market cap of $2,695.89, a PE ratio of 27.46 and a beta of 1.29.

Kennedy-Wilson (NYSE:KW) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. Kennedy-Wilson had a net margin of 12.40% and a return on equity of 4.01%. The company had revenue of $181.50 million during the quarter, compared to analysts’ expectations of $181.56 million. research analysts anticipate that Kennedy-Wilson will post -0.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Thursday, March 29th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Wednesday, March 28th. Kennedy-Wilson’s payout ratio is 168.89%.

Kennedy-Wilson announced that its board has approved a share repurchase program on Tuesday, March 20th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

In other Kennedy-Wilson news, insider William J. Mcmorrow sold 99,450 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $16.87, for a total value of $1,677,721.50. Following the completion of the sale, the insider now directly owns 1,917,001 shares in the company, valued at $32,339,806.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kent Y. Mouton sold 24,350 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $16.87, for a total transaction of $410,784.50. Following the completion of the sale, the general counsel now owns 424,128 shares of the company’s stock, valued at $7,155,039.36. The disclosure for this sale can be found here. Insiders sold 231,950 shares of company stock valued at $3,912,997 over the last 90 days. Corporate insiders own 17.07% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Kennedy-Wilson in the third quarter valued at $129,000. Ellington Management Group LLC bought a new position in shares of Kennedy-Wilson in the fourth quarter valued at $180,000. Wayne Hummer Investments L.L.C. bought a new position in shares of Kennedy-Wilson in the fourth quarter valued at $187,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kennedy-Wilson by 160.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,952 shares of the financial services provider’s stock valued at $190,000 after buying an additional 6,740 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Kennedy-Wilson in the third quarter valued at $206,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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About Kennedy-Wilson

Kennedy-Wilson Holdings, Inc operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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