Brokerages Set KB Home (NYSE:KBH) PT at $60.17

KB Home (NYSE:KBH) has been given a consensus recommendation of “Hold” by the sixteen brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $60.1667.

Several brokerages have recently commented on KBH. Weiss Ratings upgraded shares of KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 13th. Wells Fargo & Company raised their price objective on shares of KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Citigroup reiterated a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $77.00 price target on shares of KB Home in a research note on Wednesday, June 24th.

KB Home Stock Down 3.5%

KBH stock opened at $56.92 on Friday. KB Home has a twelve month low of $44.03 and a twelve month high of $68.71. The company has a market cap of $3.49 billion, a P/E ratio of 19.83, a PEG ratio of 9.78 and a beta of 1.35. The business has a fifty day moving average of $55.98 and a 200-day moving average of $55.51.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the business earned $1.50 earnings per share. KB Home’s revenue for the quarter was down 27.3% compared to the same quarter last year. As a group, equities research analysts anticipate that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.8%. KB Home’s dividend payout ratio is presently 34.84%.

Institutional Trading of KB Home

A number of hedge funds have recently modified their holdings of the company. United Services Automobile Association bought a new stake in KB Home in the first quarter valued at approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of KB Home by 5.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company’s stock valued at $13,108,000 after buying an additional 11,103 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of KB Home by 23.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company’s stock valued at $134,000 after buying an additional 482 shares in the last quarter. Marshall Wace LLP raised its stake in KB Home by 341.2% during the 2nd quarter. Marshall Wace LLP now owns 86,667 shares of the construction company’s stock worth $4,591,000 after buying an additional 67,023 shares during the period. Finally, Gamco Investors INC. ET AL bought a new position in KB Home during the second quarter worth about $711,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.