KB Home (NYSE:KBH) Issues Quarterly Earnings Results

KB Home (NYSE:KBH) issued its quarterly earnings results on Wednesday. The construction company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.19, Briefing.com reports. KB Home had a net margin of 9.29% and a return on equity of 15.87%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.

KB Home Price Performance

KB Home stock traded down $0.22 during trading hours on Friday, reaching $68.40. The stock had a trading volume of 1,039,481 shares, compared to its average volume of 1,216,971. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 0.85 and a beta of 1.73. The business’s 50 day moving average price is $63.45 and its 200-day moving average price is $55.91. KB Home has a 52 week low of $38.26 and a 52 week high of $72.00.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. KB Home’s dividend payout ratio is presently 10.88%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KBH shares. UBS Group lifted their price objective on shares of KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush boosted their price target on shares of KB Home from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI reduced their price target on shares of KB Home from $82.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of KB Home from $63.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.96.

Insiders Place Their Bets

In related news, CEO Jeffrey T. Mezger sold 165,307 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $59.40, for a total value of $9,819,235.80. Following the transaction, the chief executive officer now owns 1,491,298 shares in the company, valued at approximately $88,583,101.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $59.40, for a total value of $9,819,235.80. Following the sale, the chief executive officer now owns 1,491,298 shares in the company, valued at approximately $88,583,101.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Brian J. Woram sold 83,272 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 373,635 shares of company stock worth $22,400,005. 4.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. raised its stake in KB Home by 20.9% in the 1st quarter. Citigroup Inc. now owns 109,019 shares of the construction company’s stock valued at $3,530,000 after purchasing an additional 18,818 shares during the last quarter. Acadian Asset Management LLC raised its stake in KB Home by 35.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company’s stock valued at $69,000 after purchasing an additional 568 shares during the last quarter. MetLife Investment Management LLC raised its stake in KB Home by 39.7% in the 1st quarter. MetLife Investment Management LLC now owns 96,105 shares of the construction company’s stock valued at $3,112,000 after purchasing an additional 27,327 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in KB Home by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,411 shares of the construction company’s stock valued at $1,017,000 after purchasing an additional 2,995 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in KB Home by 7.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 47,231 shares of the construction company’s stock valued at $1,571,000 after purchasing an additional 3,140 shares during the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.

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.