KB Home (NYSE:KBH) Issues Quarterly Earnings Results, Hits Expectations

KB Home (NYSE:KBH) announced its quarterly earnings results on Wednesday. The construction company reported $1.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.60, MarketWatch Earnings reports. KB Home had a return on equity of 15.64% and a net margin of 8.90%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the business earned $0.83 EPS. KB Home’s revenue for the quarter was up 46.9% compared to the same quarter last year.

KB Home stock traded up $0.30 during trading on Wednesday, hitting $40.91. The company’s stock had a trading volume of 1,983,463 shares, compared to its average volume of 1,583,481. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 9.15 and a beta of 1.81. The stock’s fifty day moving average is $41.93 and its 200 day moving average is $44.09. KB Home has a 1-year low of $30.25 and a 1-year high of $52.48.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.47%. KB Home’s dividend payout ratio is currently 19.17%.

An institutional investor recently raised its position in KB Home stock. Morgan Stanley raised its holdings in shares of KB Home (NYSE:KBH) by 254.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,339 shares of the construction company’s stock after buying an additional 393,836 shares during the period. Morgan Stanley owned about 0.60% of KB Home worth $22,328,000 at the end of the most recent reporting period. 85.90% of the stock is owned by institutional investors.

KBH has been the topic of several recent research reports. Zacks Investment Research cut KB Home from a “buy” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Monday. Seaport Global Securities raised KB Home from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, July 19th. Royal Bank of Canada upped their price objective on KB Home from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 24th. Finally, Seaport Res Ptn raised KB Home from a “neutral” rating to a “buy” rating in a research report on Monday, July 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $48.50.

KB Home Company Profile

KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.

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Earnings History for KB Home (NYSE:KBH)

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