KB Home (NYSE:KBH) Issues Quarterly Earnings Results

KB Home (NYSE:KBHGet Rating) announced its quarterly earnings results on Wednesday. The construction company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.67 by $0.19, Briefing.com reports. KB Home had a net margin of 11.67% and a return on equity of 24.60%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business posted $1.64 EPS. KB Home’s quarterly revenue was up 25.8% on a year-over-year basis.

KB Home Stock Performance

NYSE:KBH opened at $26.60 on Friday. The company has a 50-day moving average of $30.51 and a 200-day moving average of $31.93. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 3.11, a PEG ratio of 0.37 and a beta of 1.64. KB Home has a 52 week low of $24.78 and a 52 week high of $50.20.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Wednesday, August 3rd. KB Home’s payout ratio is 7.01%.

Hedge Funds Weigh In On KB Home

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. increased its position in shares of KB Home by 125.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock worth $67,281,000 after purchasing an additional 1,156,233 shares in the last quarter. Invesco Ltd. increased its position in shares of KB Home by 50.7% during the 1st quarter. Invesco Ltd. now owns 428,627 shares of the construction company’s stock worth $13,879,000 after purchasing an additional 144,154 shares in the last quarter. State Street Corp increased its position in KB Home by 5.4% in the 1st quarter. State Street Corp now owns 2,740,695 shares of the construction company’s stock valued at $88,744,000 after acquiring an additional 139,643 shares in the last quarter. Vanguard Group Inc. increased its position in KB Home by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 7,970,899 shares of the construction company’s stock valued at $258,098,000 after acquiring an additional 108,191 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in KB Home by 2.2% in the 2nd quarter. Macquarie Group Ltd. now owns 3,980,992 shares of the construction company’s stock valued at $113,299,000 after acquiring an additional 85,582 shares in the last quarter. 91.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KBH. TheStreet lowered shares of KB Home from a “b-” rating to a “c+” rating in a research note on Friday, June 17th. KeyCorp raised shares of KB Home from an “underweight” rating to a “sector weight” rating in a report on Monday. Wedbush decreased their price objective on shares of KB Home from $60.00 to $44.00 in a report on Thursday. Barclays decreased their price objective on shares of KB Home from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Credit Suisse Group downgraded shares of KB Home from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $35.00 in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

About KB Home

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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.

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Earnings History for KB Home (NYSE:KBH)

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