KB Home (KBH) Expected to Post Quarterly Sales of $1.13 Billion
Wall Street brokerages expect KB Home (NYSE:KBH) to report sales of $1.13 billion for the current quarter, Zacks reports. Four analysts have made estimates for KB Home’s earnings, with the highest sales estimate coming in at $1.13 billion and the lowest estimate coming in at $1.12 billion. KB Home reported sales of $913.28 million in the same quarter last year, which indicates a positive year over year growth rate of 23.7%. The company is scheduled to announce its next earnings results on Tuesday, September 19th.
According to Zacks, analysts expect that KB Home will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $4.26 billion to $4.34 billion. For the next fiscal year, analysts expect that the company will report sales of $4.74 billion per share, with estimates ranging from $4.66 billion to $4.89 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow KB Home.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $929.85 million. KB Home had a return on equity of 7.11% and a net margin of 3.13%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS.
A number of analysts recently commented on the company. Wedbush dropped their price target on KB Home from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, June 15th. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Credit Suisse Group assumed coverage on KB Home in a report on Thursday, June 22nd. They set a “neutral” rating and a $23.00 price target on the stock. Royal Bank Of Canada lifted their price target on KB Home from $22.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 28th. Finally, MKM Partners upgraded KB Home to a “hold” rating and boosted their target price for the company from $20.00 to $24.00 in a research note on Tuesday, June 27th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.63.
In other KB Home news, CFO Jeff Kaminski sold 163,017 shares of KB Home stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the completion of the sale, the chief financial officer now owns 178,251 shares of the company’s stock, valued at $4,171,073.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William R. Hollinger sold 57,405 shares of KB Home stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $23.19, for a total value of $1,331,221.95. Following the sale, the senior vice president now directly owns 214,306 shares of the company’s stock, valued at approximately $4,969,756.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 620,422 shares of company stock valued at $14,269,820. Corporate insiders own 8.60% of the company’s stock.
A number of large investors have recently modified their holdings of KBH. Karp Capital Management Corp purchased a new stake in shares of KB Home during the first quarter valued at about $3,958,000. CIBC World Markets Inc. raised its stake in shares of KB Home by 1.9% in the first quarter. CIBC World Markets Inc. now owns 181,287 shares of the construction company’s stock valued at $3,604,000 after buying an additional 3,302 shares during the period. James Investment Research Inc. purchased a new stake in shares of KB Home during the second quarter valued at about $1,484,000. Norges Bank purchased a new stake in shares of KB Home during the fourth quarter valued at about $11,457,000. Finally, Prudential Financial Inc. raised its stake in shares of KB Home by 632.1% in the first quarter. Prudential Financial Inc. now owns 367,064 shares of the construction company’s stock valued at $7,297,000 after buying an additional 316,926 shares during the period. 99.16% of the stock is owned by hedge funds and other institutional investors.
KB Home (NYSE KBH) opened at 23.10 on Tuesday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 17.80 and a beta of 1.62. The company’s 50 day moving average price is $23.41 and its 200-day moving average price is $20.57. KB Home has a 12-month low of $14.06 and a 12-month high of $24.37.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.43%. The ex-dividend date is Tuesday, August 1st. KB Home’s dividend payout ratio (DPR) is currently 7.69%.
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About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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