Zacks: Brokerages Expect KB Home (NYSE:KBH) Will Post Quarterly Sales of $1.13 Billion
Analysts expect that KB Home (NYSE:KBH) will announce sales of $1.13 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for KB Home’s earnings, with the lowest sales estimate coming in at $1.12 billion and the highest estimate coming in at $1.13 billion. KB Home reported sales of $913.28 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.7%. The business is expected to report its next quarterly earnings report on Tuesday, September 19th.
On average, analysts expect that KB Home will report full year sales of $1.13 billion for the current financial year, with estimates ranging from $4.26 billion to $4.34 billion. For the next year, analysts expect that the business will report sales of $4.74 billion per share, with estimates ranging from $4.66 billion to $4.89 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for KB Home.
KB Home (NYSE:KBH) last posted its earnings results on Tuesday, June 27th. The construction company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. KB Home had a return on equity of 7.11% and a net margin of 3.13%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $929.85 million. During the same period in the previous year, the business earned $0.17 earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis.
A number of research firms have commented on KBH. Barclays PLC cut KB Home to a “sell” rating in a report on Tuesday, July 11th. Mizuho cut KB Home from a “neutral” rating to an “underperform” rating and set a $21.00 price target on the stock. in a report on Monday, July 10th. Deutsche Bank AG raised their price target on KB Home from $20.00 to $23.00 and gave the company a “hold” rating in a report on Friday, June 30th. MKM Partners raised KB Home to a “hold” rating and raised their price target for the company from $20.00 to $24.00 in a report on Tuesday, June 27th. Finally, Bank of America Corporation raised their price target on KB Home from $17.00 to $19.00 and gave the company an “underperform” rating in a report on Wednesday, June 28th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. KB Home has a consensus rating of “Hold” and a consensus target price of $19.63.
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KB Home (NYSE KBH) opened at 23.10 on Tuesday. The stock has a market capitalization of $1.98 billion, a PE ratio of 17.80 and a beta of 1.62. The company’s 50-day moving average price is $23.41 and its 200 day moving average price is $20.57. KB Home has a 52-week low of $14.06 and a 52-week high of $24.37.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Tuesday, August 1st. KB Home’s dividend payout ratio is presently 7.69%.
In other news, SVP William R. Hollinger sold 57,405 shares of KB Home stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total transaction of $1,331,221.95. Following the completion of the sale, the senior vice president now owns 214,306 shares of the company’s stock, valued at $4,969,756.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeff Kaminski sold 163,017 shares of KB Home stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the sale, the chief financial officer now directly owns 178,251 shares of the company’s stock, valued at approximately $4,171,073.40. The disclosure for this sale can be found here. Insiders have sold 620,422 shares of company stock valued at $14,269,820 in the last ninety days. Insiders own 8.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Karp Capital Management Corp bought a new stake in KB Home during the first quarter valued at $3,958,000. CIBC World Markets Inc. increased its position in shares of KB Home by 1.9% in the first quarter. CIBC World Markets Inc. now owns 181,287 shares of the construction company’s stock worth $3,604,000 after buying an additional 3,302 shares during the period. James Investment Research Inc. acquired a new position in shares of KB Home during the second quarter worth approximately $1,484,000. Norges Bank acquired a new position in shares of KB Home during the fourth quarter worth approximately $11,457,000. Finally, Prudential Financial Inc. increased its position in shares of KB Home by 632.1% in the first quarter. Prudential Financial Inc. now owns 367,064 shares of the construction company’s stock worth $7,297,000 after buying an additional 316,926 shares during the period. 99.16% of the stock is owned by hedge funds and other institutional investors.
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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