Zacks: Brokerages Anticipate KB Home (KBH) Will Post Quarterly Sales of $1.36 Billion
Analysts expect KB Home (NYSE:KBH) to report sales of $1.36 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for KB Home’s earnings. The highest sales estimate is $1.38 billion and the lowest is $1.34 billion. KB Home posted sales of $1.19 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The business is expected to issue its next quarterly earnings report on Wednesday, January 10th.
According to Zacks, analysts expect that KB Home will report full-year sales of $1.36 billion for the current fiscal year, with estimates ranging from $4.29 billion to $4.35 billion. For the next 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 calculations are an average based on a survey of sell-side research firms that that provide coverage for KB Home.
KB Home (NYSE:KBH) last posted its quarterly earnings results on Thursday, September 28th. The construction company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS.
A number of research analysts have commented on KBH shares. MKM Partners reissued a “neutral” rating on shares of KB Home in a research report on Tuesday, September 5th. KeyCorp reissued a “hold” rating on shares of KB Home in a research report on Tuesday, September 26th. Wedbush reissued a “buy” rating and set a $26.00 target price on shares of KB Home in a research report on Friday, September 22nd. Royal Bank Of Canada reissued a “hold” rating and set a $25.00 target price on shares of KB Home in a research report on Tuesday, August 29th. Finally, Credit Suisse Group raised their target price on shares of KB Home from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 29th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. KB Home currently has a consensus rating of “Hold” and a consensus target price of $22.44.
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In related news, EVP Albert Z. Praw sold 150,000 shares of KB Home stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $25.85, for a total value of $3,877,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian J. Woram sold 49,529 shares of KB Home stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $27.11, for a total transaction of $1,342,731.19. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new stake in KB Home in the 3rd quarter worth approximately $1,041,000. California Public Employees Retirement System boosted its stake in KB Home by 12.1% in the 3rd quarter. California Public Employees Retirement System now owns 280,808 shares of the construction company’s stock worth $6,773,000 after purchasing an additional 30,408 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in KB Home in the 3rd quarter worth approximately $706,000. Cubist Systematic Strategies LLC boosted its stake in KB Home by 1,325.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 130,483 shares of the construction company’s stock worth $3,147,000 after purchasing an additional 121,328 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in KB Home in the 3rd quarter worth approximately $570,000. Institutional investors own 97.58% of the company’s stock.
KB Home (NYSE:KBH) opened at $28.91 on Friday. The company has a market cap of $2,450.00, a PE ratio of 20.61, a price-to-earnings-growth ratio of 0.83 and a beta of 1.66. KB Home has a 12-month low of $15.03 and a 12-month high of $29.00.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Wednesday, November 1st. KB Home’s dividend payout ratio (DPR) is presently 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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