FY2024 EPS Estimates for KB Home (NYSE:KBH) Boosted by Zacks Research

KB Home (NYSE:KBH) – Equities researchers at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for KB Home in a research report issued on Tuesday, April 9th. Zacks Research analyst S. Mukherjee now expects that the construction company will post earnings of $7.92 per share for the year, up from their previous forecast of $7.91. The consensus estimate for KB Home’s current full-year earnings is $8.01 per share. Zacks Research also issued estimates for KB Home’s Q4 2024 earnings at $2.32 EPS, Q3 2025 earnings at $2.27 EPS and FY2026 earnings at $8.94 EPS.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $1.45 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

Several other brokerages have also issued reports on KBH. UBS Group increased their target price on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group lifted their target price on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Keefe, Bruyette & Woods lifted their target price on KB Home from $67.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, March 28th. Wedbush lifted their price objective on KB Home from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their price objective on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus price target of $66.11.

KB Home Trading Down 4.9 %

KBH opened at $63.75 on Wednesday. The stock has a 50-day moving average price of $65.62 and a 200-day moving average price of $57.82. KB Home has a 12-month low of $38.65 and a 12-month high of $72.00. The stock has a market capitalization of $4.84 billion, a P/E ratio of 8.67, a PEG ratio of 0.75 and a beta of 1.73.

Institutional Investors Weigh In On KB Home

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. acquired a new position in shares of KB Home during the second quarter worth about $26,000. Manchester Capital Management LLC lifted its holdings in shares of KB Home by 433.0% in the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after purchasing an additional 394 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of KB Home in the first quarter valued at about $40,000. Fifth Third Bancorp lifted its stake in shares of KB Home by 40.9% during the third quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after buying an additional 270 shares during the period. Finally, GAMMA Investing LLC purchased a new position in KB Home during the fourth quarter worth approximately $47,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KB Home

In other KB Home news, CEO Jeffrey T. Mezger sold 59,157 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $60.34, for a total value of $3,569,533.38. Following the transaction, the chief executive officer now directly owns 1,491,298 shares of the company’s stock, valued at approximately $89,984,921.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Brian J. Woram sold 83,272 shares of KB Home stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.53, for a total value of $5,040,454.16. Following the completion of the sale, the executive vice president now owns 156,119 shares in the company, valued at approximately $9,449,883.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey T. Mezger sold 59,157 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $60.34, for a total transaction of $3,569,533.38. Following the completion of the transaction, the chief executive officer now owns 1,491,298 shares of the company’s stock, valued at approximately $89,984,921.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 373,635 shares of company stock valued at $22,400,005. 3.52% of the stock is owned by corporate insiders.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Wednesday, February 7th. KB Home’s dividend payout ratio is presently 10.88%.

About KB Home

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.