KB Home (NYSE:KBH) Hits New 12-Month Low – Here’s What Happened

KB Home (NYSE:KBH) hit a new 52-week low on Tuesday . The company traded as low as $44.03 and last traded at $44.7890, with a volume of 48035 shares changing hands. The stock had previously closed at $45.64.

Analyst Upgrades and Downgrades

KBH has been the topic of a number of research reports. Barclays dropped their target price on shares of KB Home from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. The Goldman Sachs Group dropped their target price on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Wells Fargo & Company dropped their target price on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating on the stock in a report on Wednesday, March 25th. UBS Group dropped their target price on shares of KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Weiss Ratings downgraded shares of KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.17.

KB Home Stock Down 2.8%

The company has a market capitalization of $2.78 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 7.96 and a beta of 1.42. The business’s 50 day simple moving average is $52.00 and its 200 day simple moving average is $57.94.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $1.49 earnings per share. The business’s quarterly revenue was down 22.6% on a year-over-year basis. On average, analysts anticipate that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. KB Home’s dividend payout ratio is currently 25.38%.

Institutional Trading of KB Home

A number of hedge funds have recently bought and sold shares of the company. Edgestream Partners L.P. lifted its stake in KB Home by 57.7% during the first quarter. Edgestream Partners L.P. now owns 14,358 shares of the construction company’s stock valued at $743,000 after buying an additional 5,255 shares in the last quarter. Amundi purchased a new stake in shares of KB Home in the first quarter worth approximately $313,000. California State Teachers Retirement System lifted its position in shares of KB Home by 26.8% in the first quarter. California State Teachers Retirement System now owns 77,299 shares of the construction company’s stock worth $4,000,000 after purchasing an additional 16,352 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of KB Home in the first quarter worth approximately $2,250,000. Finally, Royal Bank of Canada lifted its position in shares of KB Home by 4.6% in the first quarter. Royal Bank of Canada now owns 64,708 shares of the construction company’s stock worth $3,350,000 after purchasing an additional 2,821 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

About KB Home

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.