KeyCorp Comments on KB Home’s Q1 2018 Earnings (KBH)
KB Home (NYSE:KBH) – Equities research analysts at KeyCorp issued their Q1 2018 earnings estimates for KB Home in a report issued on Wednesday. KeyCorp analyst K. Zener anticipates that the construction company will earn $0.31 per share for the quarter. KeyCorp also issued estimates for KB Home’s Q3 2018 earnings at $0.69 EPS, Q4 2018 earnings at $0.97 EPS and FY2019 earnings at $2.88 EPS.
KBH has been the topic of a number of other reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $27.00 target price (up from $25.50) on shares of KB Home in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $33.00 target price on shares of KB Home in a research note on Friday, December 22nd. Buckingham Research lowered shares of KB Home from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $28.00 to $34.00 in a research note on Friday, January 12th. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating and set a $38.00 target price (up from $31.00) on shares of KB Home in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada upped their target price on shares of KB Home to $40.00 and gave the stock a “sector perform” rating in a research note on Monday, January 15th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. KB Home has an average rating of “Hold” and an average target price of $29.07.
KB Home (NYSE:KBH) last released its earnings results on Wednesday, January 10th. The construction company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.07. KB Home had a net margin of 4.13% and a return on equity of 9.93%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 8th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Wednesday, February 7th. KB Home’s dividend payout ratio (DPR) is 5.46%.
In related news, CFO Jeff Kaminski sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total value of $4,066,250.00. Following the completion of the transaction, the chief financial officer now directly owns 237,775 shares of the company’s stock, valued at $7,734,820.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in KBH. Teachers Advisors LLC boosted its holdings in shares of KB Home by 4.1% in the second quarter. Teachers Advisors LLC now owns 154,328 shares of the construction company’s stock valued at $3,699,000 after acquiring an additional 6,095 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of KB Home by 39.3% in the second quarter. Ameriprise Financial Inc. now owns 326,767 shares of the construction company’s stock valued at $7,833,000 after acquiring an additional 92,111 shares during the period. Amalgamated Bank boosted its holdings in shares of KB Home by 2.5% in the second quarter. Amalgamated Bank now owns 11,945 shares of the construction company’s stock valued at $286,000 after acquiring an additional 289 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of KB Home by 6.0% in the second quarter. New York State Common Retirement Fund now owns 127,014 shares of the construction company’s stock valued at $3,045,000 after acquiring an additional 7,166 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of KB Home by 1.9% in the second quarter. Northern Trust Corp now owns 1,337,380 shares of the construction company’s stock valued at $32,058,000 after acquiring an additional 25,523 shares during the period. 98.15% of the stock is owned by hedge funds and other institutional investors.
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About KB Home
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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