$1.36 Billion in Sales Expected for KB Home (KBH) This Quarter
Equities analysts predict that KB Home (NYSE:KBH) will announce sales of $1.36 billion for the current quarter, Zacks reports. Five analysts have issued estimates for KB Home’s earnings, with estimates ranging from $1.35 billion to $1.38 billion. KB Home reported sales of $1.19 billion during the same quarter last year, which indicates a positive year over year growth rate of 14.3%. The company is scheduled to report its next earnings results on Wednesday, January 10th.
On average, analysts expect that KB Home will report full year sales of $1.36 billion for the current financial year, with estimates ranging from $4.31 billion to $4.35 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.72 billion per share, with estimates ranging from $4.59 billion to $4.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow KB Home.
KB Home (NYSE:KBH) last released its quarterly earnings data on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share.
Several brokerages recently issued reports on KBH. UBS AG began coverage on shares of KB Home in a research note on Wednesday. They issued a “sell” rating and a $24.00 target price for the company. Credit Suisse Group increased their price target on shares of KB Home from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, September 29th. BidaskClub cut shares of KB Home from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Barclays PLC raised their target price on shares of KB Home from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, September 29th. Finally, Wedbush cut shares of KB Home from an “outperform” rating to a “neutral” rating in a report on Thursday, October 19th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.06.
In other KB Home news, EVP Brian J. Woram sold 49,529 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $27.11, for a total transaction of $1,342,731.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William R. Hollinger sold 57,405 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total transaction 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. Insiders sold a total of 656,934 shares of company stock valued at $15,675,453 in the last ninety days. 8.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of KB Home by 19,999.6% in the 1st quarter. BlackRock Inc. now owns 10,064,270 shares of the construction company’s stock worth $200,078,000 after purchasing an additional 10,014,198 shares during the period. Vanguard Group Inc. increased its stake in shares of KB Home by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,884,880 shares of the construction company’s stock worth $165,031,000 after acquiring an additional 492,594 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of KB Home by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,803,374 shares of the construction company’s stock worth $67,196,000 after acquiring an additional 394,584 shares in the last quarter. State Street Corp increased its stake in shares of KB Home by 3.2% in the 2nd quarter. State Street Corp now owns 2,665,501 shares of the construction company’s stock worth $63,890,000 after acquiring an additional 83,179 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of KB Home by 30.1% in the 2nd quarter. Capital World Investors now owns 2,117,000 shares of the construction company’s stock worth $50,744,000 after acquiring an additional 490,000 shares in the last quarter. 97.50% of the stock is owned by institutional investors and hedge funds.
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KB Home (NYSE KBH) opened at 27.05 on Friday. The firm’s 50-day moving average price is $24.33 and its 200 day moving average price is $22.61. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 19.38 and a beta of 1.54. KB Home has a 12-month low of $14.06 and a 12-month high of $27.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.37%. KB Home’s dividend payout ratio (DPR) is 7.19%.
KB Home Company Profile
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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