Wedbush Research Analysts Decrease Earnings Estimates for KB Home (KBH)
KB Home (NYSE:KBH) – Analysts at Wedbush cut their FY2016 earnings per share (EPS) estimates for KB Home in a research note issued on Wednesday. Wedbush analyst J. Mccanless now forecasts that the brokerage will earn $1.31 per share for the year, down from their previous forecast of $1.36. Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. Wedbush also issued estimates for KB Home’s Q4 2016 earnings at $0.60 EPS, Q1 2017 earnings at $0.17 EPS, Q2 2017 earnings at $0.33 EPS, Q4 2017 earnings at $0.74 EPS and FY2017 earnings at $1.65 EPS.
KBH has been the subject of a number of other research reports. MKM Partners restated a “hold” rating on shares of KB Home in a report on Wednesday, June 22nd. Zacks Investment Research cut shares of KB Home from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. Credit Suisse Group AG reiterated a “sell” rating on shares of KB Home in a report on Tuesday, June 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 price target (up previously from $14.00) on shares of KB Home in a report on Sunday, June 26th. Finally, TheStreet upgraded shares of KB Home from a “hold” rating to a “buy” rating in a report on Wednesday, June 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.27.
KB Home (NYSE:KBH) traded up 2.36% during mid-day trading on Thursday, hitting $15.59. 2,288,936 shares of the stock were exchanged. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 15.96 and a beta of 1.96. The company has a 50 day moving average price of $15.46 and a 200 day moving average price of $14.62. KB Home has a 52-week low of $9.04 and a 52-week high of $16.76.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/wedbush-research-analysts-decrease-earnings-estimates-for-kb-home-kbh.html
KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The firm had revenue of $913.30 million for the quarter. KB Home had a net margin of 3.31% and a return on equity of 6.80%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS.
Institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its position in KB Home by 0.4% in the second quarter. Nuveen Asset Management LLC now owns 83,397 shares of the company’s stock worth $1,268,000 after buying an additional 364 shares during the period. Teacher Retirement System of Texas boosted its position in KB Home by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 10,689 shares of the company’s stock worth $163,000 after buying an additional 538 shares during the period. Comerica Bank boosted its position in KB Home by 1.1% in the second quarter. Comerica Bank now owns 57,280 shares of the company’s stock worth $901,000 after buying an additional 616 shares during the period. HL Financial Services LLC boosted its position in KB Home by 0.4% in the second quarter. HL Financial Services LLC now owns 149,329 shares of the company’s stock worth $2,271,000 after buying an additional 662 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in KB Home by 2.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 30,324 shares of the company’s stock worth $461,000 after buying an additional 686 shares during the period. 92.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Jeffrey T. Mezger sold 230,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 606,716 shares of the company’s stock, valued at approximately $9,968,343.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey T. Mezger sold 500,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $16.47, for a total transaction of $8,235,000.00. Following the transaction, the insider now directly owns 606,716 shares in the company, valued at $9,992,612.52. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
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.
Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.