Zacks: Analysts Expect KB Home (KBH) Will Announce Quarterly Sales of $1.13 Billion
Wall Street analysts predict that KB Home (NYSE:KBH) will announce $1.13 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for KB Home’s earnings. The highest sales estimate is $1.13 billion and the lowest is $1.12 billion. KB Home reported sales of $913.28 million in the same quarter last year, which would suggest a positive year over year growth rate of 23.7%. The firm is expected to announce its next earnings report on Tuesday, September 19th.
On average, analysts expect that KB Home will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $4.26 billion to $4.34 billion. For the next year, analysts forecast that the business will post sales of $4.74 billion per share, with estimates ranging from $4.66 billion to $4.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for KB Home.
KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 27th. The construction company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $929.85 million. KB Home had a net margin of 3.13% and a return on equity of 7.11%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS.
KBH has been the topic of a number of recent analyst reports. Deutsche Bank AG raised their target price on shares of KB Home from $20.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, June 30th. Wedbush lowered their target price on shares of KB Home from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, June 15th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 target price on shares of KB Home in a research note on Tuesday, August 29th. Barclays PLC reaffirmed a “sell” rating and issued a $17.00 target price on shares of KB Home in a research note on Friday, June 30th. Finally, Credit Suisse Group initiated coverage on shares of KB Home in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $23.00 target price on the stock. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $19.88.
In other news, insider Jeffrey T. Mezger sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $22.81, for a total value of $9,124,000.00. Following the transaction, the insider now owns 682,996 shares in the company, valued at $15,579,138.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeff Kaminski sold 163,017 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the completion of the transaction, the chief financial officer now owns 178,251 shares in the company, valued at approximately $4,171,073.40. The disclosure for this sale can be found here. Insiders sold 620,422 shares of company stock worth $14,269,820 in the last 90 days. Company insiders own 8.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of KBH. Creative Planning boosted its position in shares of KB Home by 34.9% in the second quarter. Creative Planning now owns 4,289 shares of the construction company’s stock valued at $103,000 after buying an additional 1,110 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of KB Home by 22.6% in the first quarter. Flinton Capital Management LLC now owns 5,542 shares of the construction company’s stock valued at $110,000 after buying an additional 1,020 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of KB Home by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock valued at $134,000 after buying an additional 639 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of KB Home by 40.2% in the first quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock valued at $140,000 after buying an additional 2,020 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of KB Home by 18.0% in the second quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock valued at $156,000 after buying an additional 991 shares in the last quarter. Hedge funds and other institutional investors own 98.37% of the company’s stock.
Shares of KB Home (NYSE:KBH) opened at 21.59 on Friday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 16.63 and a beta of 1.60. The company’s 50 day moving average is $22.78 and its 200 day moving average is $21.08. KB Home has a one year low of $14.06 and a one year high of $24.37.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Tuesday, August 1st. KB Home’s dividend payout ratio is 7.69%.
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About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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