Seaport Res Ptn Comments on KB Home FY2024 Earnings

KB Home (NYSE:KBH) – Equities research analysts at Seaport Res Ptn issued their FY2024 earnings per share estimates for shares of KB Home in a note issued to investors on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener expects that the construction company will post earnings of $8.42 per share for the year. The consensus estimate for KB Home’s current full-year earnings is $8.44 per share. Seaport Res Ptn also issued estimates for KB Home’s Q4 2024 earnings at $2.44 EPS.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research report on Thursday, September 5th. Barclays raised their price target on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Evercore ISI upped their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Finally, Bank of America upped their price target on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $77.50.

KB Home Stock Up 2.9 %

Shares of KB Home stock opened at $82.02 on Wednesday. The company has a market cap of $6.01 billion, a P/E ratio of 10.52, a PEG ratio of 0.66 and a beta of 1.81. The firm’s 50 day moving average price is $82.28 and its 200-day moving average price is $76.42. KB Home has a 52-week low of $50.08 and a 52-week high of $89.70.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 earnings per share.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, November 14th. KB Home’s payout ratio is 12.82%.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.52% of the stock is owned by insiders.

Institutional Investors Weigh In On KB Home

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GHE LLC grew its position in KB Home by 7.4% during the third quarter. GHE LLC now owns 30,197 shares of the construction company’s stock valued at $2,409,000 after buying an additional 2,086 shares during the period. MQS Management LLC purchased a new position in shares of KB Home in the 3rd quarter valued at about $802,000. Aptus Capital Advisors LLC increased its stake in shares of KB Home by 15.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 110,237 shares of the construction company’s stock valued at $9,446,000 after purchasing an additional 14,817 shares in the last quarter. Versor Investments LP boosted its position in KB Home by 4.6% during the third quarter. Versor Investments LP now owns 9,132 shares of the construction company’s stock worth $783,000 after purchasing an additional 400 shares in the last quarter. Finally, Jupiter Wealth Management LLC increased its position in shares of KB Home by 1.2% in the third quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock valued at $1,619,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 96.09% 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.