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Analysts forecast that KB Home (NYSE:KBH) will announce $1.43 billion in sales for the current quarter, Zacks reports. Five badysts have made estimates for KB Home’s earnings, with estimates ranging from $1.42 billion to $1.43 billion. KB Home reported sales of $1.40 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.1%. The company is expected to announce its next earnings report on Wednesday, January 9th.
According to Zacks, badysts expect that KB Home will report full-year sales of $4.62 billion for the current fiscal year, with estimates ranging from $4.62 billion to $4.63 billion. For the next fiscal year, badysts anticipate that the business will report sales of $5.01 billion, with estimates ranging from $4.79 billion to $5.13 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for KB Home.
KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.10. The company had revenue of $1.23 billion during the quarter, compared to badysts’ expectations of $1.27 billion. KB Home had a net margin of 3.43% and a return on equity of 13.96%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS.
Several equities badysts have recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of KB Home in a research note on Thursday, September 27th. ValuEngine downgraded KB Home from a “sell” rating to a “strong sell” rating in a report on Thursday, October 4th. MKM Partners set a $32.00 price objective on KB Home and gave the company a “hold” rating in a report on Wednesday, September 26th. Credit Suisse Group set a $29.00 price objective on KB Home and gave the company a “hold” rating in a report on Friday, July 13th. Finally, Zacks Investment Research downgraded KB Home from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Four investment badysts have rated the stock with a sell rating, ten have issued a hold rating and six have badigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $30.89.
In other KB Home news, insider Jeffrey T. Mezger sold 272,818 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the completion of the sale, the insider now owns 861,287 shares of the company’s stock, valued at approximately $20,145,502.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey T. Mezger sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total value of $2,356,000.00. Following the sale, the chief executive officer now directly owns 861,287 shares of the company’s stock, valued at approximately $20,291,921.72. The disclosure for this sale can be found here. In the last three months, insiders sold 452,382 shares of company stock valued at $10,643,566. 8.60% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in KBH. Legal & General Group Plc lifted its holdings in KB Home by 70.2% during the 1st quarter. Legal & General Group Plc now owns 136,709 shares of the construction company’s stock valued at $3,889,000 after purchasing an additional 56,390 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of KB Home by 53.4% during the first quarter. Xact Kapitalforvaltning AB now owns 11,774 shares of the construction company’s stock worth $335,000 after buying an additional 4,100 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of KB Home by 4.4% during the first quarter. Principal Financial Group Inc. now owns 477,076 shares of the construction company’s stock worth $13,573,000 after buying an additional 20,079 shares in the last quarter. CenterStar Asset Management LLC acquired a new stake in shares of KB Home during the second quarter worth $128,000. Finally, Gateway Investment Advisers LLC acquired a new stake in shares of KB Home during the second quarter worth $1,365,000. 82.68% of the stock is owned by institutional investors and hedge funds.
Shares of KBH traded up $0.51 during mid-day trading on Monday, hitting $21.13. 2,968,207 shares of the company’s stock were exchanged, compared to its average volume of 2,409,638. The stock has a market capitalization of $1.89 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.43 and a beta of 1.54. KB Home has a 52 week low of $18.54 and a 52 week high of $38.80.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 14th. KB Home’s payout ratio is presently 5.41%.
KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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