KB Home (KBH) Sees Strong Trading Volume After Better-Than-Expected Earnings
Shares of KB Home (NYSE:KBH) saw strong trading volume on Tuesday following a better than expected earnings announcement. 2,167,080 shares traded hands during trading, a decline of 6% from the previous session’s volume of 2,317,236 shares.The stock last traded at $14.96 and had previously closed at $15.30.
The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. KB Home had a net margin of 2.89% and a return on equity of 5.83%. The firm had revenue of $913.30 million for the quarter, compared to the consensus estimate of $944.14 million. During the same period in the previous year, the firm posted $0.23 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. MKM Partners restated a “hold” rating on shares of KB Home in a report on Wednesday, June 22nd. Zacks Investment Research downgraded shares of KB Home from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. Credit Suisse Group AG reaffirmed a “sell” rating on shares of KB Home in a research note on Tuesday, June 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 price target (up from $14.00) on shares of KB Home in a research note on Sunday, June 26th. Finally, TheStreet raised shares of KB Home from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. KB Home has a consensus rating of “Hold” and a consensus price target of $15.33.
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In other news, insider Jeffrey T. Mezger sold 500,000 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $16.47, for a total value of $8,235,000.00. Following the completion of the sale, the insider now owns 606,716 shares in the company, valued at approximately $9,992,612.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey T. Mezger sold 230,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $16.43, for a total transaction of $3,778,900.00. Following the completion of the sale, the chief executive officer now owns 606,716 shares of the company’s stock, valued at approximately $9,968,343.88. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in KB Home during the first quarter valued at approximately $1,455,000. Canada Pension Plan Investment Board raised its stake in KB Home by 254.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,212,894 shares of the company’s stock valued at $17,320,000 after buying an additional 871,100 shares in the last quarter. Spark Investment Management LLC acquired a new stake in KB Home during the first quarter valued at approximately $3,135,000. Landscape Capital Management L.L.C. raised its stake in KB Home by 57.6% in the first quarter. Landscape Capital Management L.L.C. now owns 72,200 shares of the company’s stock valued at $1,031,000 after buying an additional 26,400 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in KB Home by 23.1% in the first quarter. BlackRock Group LTD now owns 57,493 shares of the company’s stock valued at $820,000 after buying an additional 10,784 shares in the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.
The company’s 50 day moving average is $15.47 and its 200-day moving average is $14.62. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 15.28 and a beta of 1.96.
KB Home Company Profile
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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