KB Home (NYSE:KBH) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

KB Home (NYSE:KBH) announced its quarterly earnings data on Wednesday. The construction company reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.14, MarketWatch Earnings reports. KB Home had a net margin of 9.86% and a return on equity of 20.13%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company earned $1.12 EPS. The business’s quarterly revenue was up 40.3% compared to the same quarter last year.

KBH stock traded down $0.34 during midday trading on Friday, hitting $49.04. 4,624,571 shares of the company’s stock were exchanged, compared to its average volume of 3,910,793. KB Home has a 12-month low of $34.92 and a 12-month high of $52.48. The firm has a 50 day moving average price of $43.04 and a 200-day moving average price of $41.86. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 0.15 and a beta of 1.76.

In other news, Director Melissa Lora sold 24,393 shares of KB Home stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $40.83, for a total value of $995,966.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey T. Mezger sold 166,861 shares of KB Home stock in a transaction that occurred on Tuesday, November 9th. The stock was sold at an average price of $42.66, for a total value of $7,118,290.26. The disclosure for this sale can be found here. Insiders have sold a total of 352,032 shares of company stock worth $14,837,469 over the last 90 days. 4.40% of the stock is owned by company insiders.

An institutional investor recently raised its position in KB Home stock. Morgan Stanley lifted its position in KB Home (NYSE:KBH) by 254.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,339 shares of the construction company’s stock after acquiring an additional 393,836 shares during the quarter. Morgan Stanley owned 0.60% of KB Home worth $22,328,000 as of its most recent SEC filing. Institutional investors own 88.54% of the company’s stock.

Several research firms have commented on KBH. Royal Bank of Canada raised their price objective on KB Home from $46.00 to $55.00 in a research report on Thursday. Bank of America started coverage on KB Home in a report on Monday, November 8th. They set a “neutral” rating on the stock. Wedbush raised their target price on KB Home from $60.00 to $73.00 in a report on Thursday. JPMorgan Chase & Co. dropped their target price on KB Home from $59.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, October 14th. Finally, Raymond James raised their target price on KB Home from $55.00 to $63.00 and gave the company a “strong-buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $54.73.

KB Home Company Profile

KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.

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Earnings History for KB Home (NYSE:KBH)

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