KB Home (NYSE:KBH) Releases Quarterly Earnings Results

KB Home (NYSE:KBHGet Rating) announced its earnings results on Wednesday. The construction company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.19, Briefing.com reports. KB Home had a net margin of 11.67% and a return on equity of 24.60%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm posted $1.64 earnings per share. KB Home’s quarterly revenue was up 25.8% on a year-over-year basis.

KB Home Trading Down 5.1 %

KBH opened at $26.60 on Friday. KB Home has a 12-month low of $24.78 and a 12-month high of $50.20. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 3.11, a PEG ratio of 0.37 and a beta of 1.64. The company’s 50 day moving average is $30.51 and its 200 day moving average is $31.93.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Wednesday, August 3rd. KB Home’s dividend payout ratio is 7.01%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Credit Suisse Group cut shares of KB Home from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $35.00 in a research report on Monday, July 11th. Raymond James lowered their price target on shares of KB Home from $63.00 to $44.00 and set a “strong-buy” rating for the company in a report on Wednesday, June 29th. KeyCorp upgraded KB Home from an “underweight” rating to a “sector weight” rating in a research report on Monday. Wedbush dropped their target price on shares of KB Home from $60.00 to $44.00 in a research report on Thursday. Finally, Barclays cut their price objective on KB Home from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in KB Home by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 7,970,899 shares of the construction company’s stock worth $258,098,000 after buying an additional 108,191 shares in the last quarter. Macquarie Group Ltd. boosted its stake in KB Home by 2.2% during the second quarter. Macquarie Group Ltd. now owns 3,980,992 shares of the construction company’s stock valued at $113,299,000 after buying an additional 85,582 shares during the last quarter. State Street Corp grew its holdings in KB Home by 5.4% during the 1st quarter. State Street Corp now owns 2,740,695 shares of the construction company’s stock valued at $88,744,000 after buying an additional 139,643 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in KB Home by 125.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock valued at $67,281,000 after purchasing an additional 1,156,233 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of KB Home by 1.9% in the 2nd quarter. Millennium Management LLC now owns 524,211 shares of the construction company’s stock worth $14,919,000 after buying an additional 9,587 shares in the last quarter. 91.45% of the stock is currently owned by institutional investors.

KB Home Company Profile

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KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.

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Earnings History for KB Home (NYSE:KBH)

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