KB Home (NYSE:KBH) Releases Earnings Results, Beats Estimates By $0.35 EPS

KB Home (NYSE:KBH – Get Rating) posted its earnings results on Wednesday. The construction company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.35, RTT News reports. KB Home had a net margin of 10.06% and a return on equity of 20.40%. During the same period last year, the firm earned $1.50 earnings per share.

Shares of KB Home stock opened at $26.23 on Thursday. The company has a market capitalization of $2.32 billion, a PE ratio of 4.05, a P/E/G ratio of 1.30 and a beta of 1.59. The company has a 50-day simple moving average of $32.27 and a two-hundred day simple moving average of $37.10. KB Home has a one year low of $24.78 and a one year high of $50.20.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th were issued a $0.15 dividend. The ex-dividend date was Wednesday, May 4th. This represents a $0.60 dividend on an annualized basis and a yield of 2.29%. KB Home’s dividend payout ratio is presently 9.26%.

KBH has been the subject of several recent analyst reports. TheStreet lowered shares of KB Home from a “b-” rating to a “c+” rating in a research note on Friday, June 17th. The Goldman Sachs Group dropped their price objective on shares of KB Home from $55.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. UBS Group decreased their target price on KB Home from $66.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, June 16th. Royal Bank of Canada decreased their target price on KB Home from $55.00 to $51.00 and set an “outperform” rating for the company in a research report on Thursday, March 24th. Finally, Wolfe Research downgraded KB Home from a “market perform” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Friday, May 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.23.

A number of institutional investors have recently made changes to their positions in KBH. Citigroup Inc. raised its holdings in KB Home by 20.9% in the first quarter. Citigroup Inc. now owns 109,019 shares of the construction company’s stock worth $3,530,000 after purchasing an additional 18,818 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of KB Home by 35.5% during the first quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company’s stock worth $69,000 after acquiring an additional 568 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of KB Home by 39.7% during the first quarter. MetLife Investment Management LLC now owns 96,105 shares of the construction company’s stock worth $3,112,000 after acquiring an additional 27,327 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of KB Home by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,411 shares of the construction company’s stock worth $1,017,000 after acquiring an additional 2,995 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of KB Home by 7.1% during the first quarter. Great West Life Assurance Co. Can now owns 47,231 shares of the construction company’s stock worth $1,571,000 after acquiring an additional 3,140 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

About KB Home (Get Rating)

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.

Featured Articles