Zacks: Brokerages Expect KB Home (KBH) Will Announce Earnings of $0.79 Per Share

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Equities analysts expect that KB Home (NYSE:KBH) will post earnings per share of $0.79 for the current quarter, according to Zacks. Five analysts have made estimates for KB Home’s earnings. The highest EPS estimate is $0.85 and the lowest is $0.75. KB Home reported earnings per share of $0.51 during the same quarter last year, which would indicate a positive year over year growth rate of 54.9%. The business is expected to announce its next quarterly earnings results on Thursday, September 27th.

According to Zacks, analysts expect that KB Home will report full year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.44 to $1.90. For the next financial year, analysts expect that the firm will post earnings of $3.29 per share, with EPS estimates ranging from $3.05 to $3.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow KB Home.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Thursday, June 28th. The construction company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. KB Home had a net margin of 2.67% and a return on equity of 12.31%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS.

Several brokerages recently commented on KBH. Citigroup upped their price target on shares of KB Home from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, June 27th. Credit Suisse Group cut their price target on shares of KB Home from $32.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, June 29th. Bank of America upgraded shares of KB Home from an “underperform” rating to a “buy” rating and upped their price target for the company from $32.00 to $37.00 in a report on Friday, June 29th. Barclays upgraded shares of KB Home from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 29th. Finally, ValuEngine downgraded shares of KB Home from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.

In other news, insider Jeffrey T. Mezger sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $24.12, for a total value of $3,015,000.00. Following the completion of the sale, the insider now owns 811,287 shares of the company’s stock, valued at approximately $19,568,242.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey T. Mezger sold 272,818 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the completion of the sale, the insider now directly owns 861,287 shares of the company’s stock, valued at approximately $20,145,502.93. The disclosure for this sale can be found here. Insiders sold a total of 497,818 shares of company stock worth $11,752,213 over the last 90 days. Insiders own 8.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in KBH. Investec Asset Management LTD purchased a new stake in shares of KB Home in the 2nd quarter worth approximately $23,056,000. Matarin Capital Management LLC purchased a new stake in shares of KB Home in the 1st quarter worth approximately $15,390,000. Northern Trust Corp lifted its position in shares of KB Home by 33.6% in the 1st quarter. Northern Trust Corp now owns 1,937,861 shares of the construction company’s stock worth $55,132,000 after purchasing an additional 487,495 shares during the period. Renaissance Technologies LLC lifted its position in shares of KB Home by 48.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,169,100 shares of the construction company’s stock worth $31,846,000 after purchasing an additional 383,200 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of KB Home in the 2nd quarter worth approximately $6,606,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:KBH opened at $23.56 on Monday. The stock has a market cap of $2.11 billion, a P/E ratio of 12.74, a PEG ratio of 0.48 and a beta of 1.43. KB Home has a 12 month low of $20.68 and a 12 month high of $38.80.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Thursday, August 2nd were paid a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, August 1st. This represents a $0.10 dividend on an annualized basis and a yield of 0.42%. KB Home’s dividend payout ratio is currently 5.41%.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

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