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TheStreet has reduced the shares of Kennedy-Wilson (NYSE: KW) from a note b- to a note c in a research report sent to investors Thursday morning.
A number of other equity badysts also weighed on the stock. In a research report released on Tuesday, Oct. 2, ValuEngine improved Kennedy-Wilson's stock from a reserve to a buy rating. Deutsche Bank lowered its price target on Kennedy-Wilson shares from $ 26.00 to $ 25.00 and set the holding's rating in a research report on Wednesday, August 29th. Finally, JMP Securities increased its price target on Kennedy-Wilson shares from $ 23.00 to $ 24.00 and gave the stock a stock market outperformance in a research report on Thursday August 2nd.
NYSE KW shares opened at $ 19.35 on Thursday. Kennedy-Wilson has a minimum of 52 weeks of $ 15.95 and $ 22.27. The stock has a market capitalization of $ 2.79 billion, a PE of 12.25 and a beta of 1.39. The company has a current ratio of 1.05, a fast ratio of 1.05 and a debt-to-equity ratio of 3.82.
Kennedy-Wilson (NYSE: KW) announced its financial results on Wednesday, October 31. The financial services provider reported earnings per share (EPS) of $ 0.09 for the quarter, exceeding Thomson Reuters consensus estimate of ($ 0.08) by $ 0.17. Kennedy-Wilson had a net margin of 28.15% and a return on equity of 14.77%. The company reported revenue of $ 185.80 million for the quarter, compared to badysts' estimates of $ 199.49 million. In the same quarter of last year, the company had earnings per share of $ 0.31. The company's sales for the quarter decreased by 31.8% compared to the same quarter of the previous year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors listed on Friday, December 28 will receive a dividend of $ 0.21 per share. The ex-dividend date is Thursday, December 27th. This is a positive change from Kennedy-Wilson's previous quarterly dividend of $ 0.19. This represents a dividend of $ 0.84 on an annualized basis and a return of 4.34%. Kennedy-Wilson's payout ratio is currently 168.89%.
A number of institutional investors and hedge funds recently bought and sold KW shares. Strs Ohio acquired a new position in Kennedy-Wilson during the second quarter, valued at approximately $ 103,000. Cubist Systematic Strategies LLC acquired during the first quarter a new position in Kennedy-Wilson worth about $ 113,000. Sei Investments Co. strengthened its position in Kennedy-Wilson by 60.3% in the second quarter. Sei Investments Co. now holds 6,260 shares valued at $ 132,000 in the financial services provider after acquiring 2,355 additional shares in the last quarter. The Public Employees Retirement Association of Colorado strengthened its position in Kennedy-Wilson by 291.8% in the third quarter. The Public Employees Retirement Association of Colorado now holds 8,107 shares valued at $ 174,000 in the financial services provider, after purchasing an additional 6,038 shares in the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new position in Kennedy-Wilson during the second quarter valued at approximately $ 230,000. Hedge funds and other institutional investors own 84.93% of the company's shares.
About Kennedy-Wilson
Kennedy-Wilson Holdings, Inc. operates as a real estate investment company. The company owns, operates and invests in real estate, both on its own and through its investment management platform. It focuses on multi-family and commercial properties located in the western United States, the United Kingdom, Ireland, Spain, Italy and Japan.
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