KB Home (NYSE:KBH) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 4,759,708 shares, a decline of 37.1% from the August 15th total of 7,568,069 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average daily volume of 1,208,834 shares, the days-to-cover ratio is currently 3.9 days.
Several brokerages recently issued reports on KBH. Bank of America set a $30.00 target price on shares of KB Home and gave the stock a “buy” rating in a research report on Thursday. ValuEngine lowered shares of KB Home from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. JMP Securities restated a “market perform” rating on shares of KB Home in a research report on Thursday, September 27th. Raymond James upgraded shares of KB Home from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Thursday, September 27th. Finally, Credit Suisse Group cut their price target on shares of KB Home from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, September 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. KB Home presently has a consensus rating of “Hold” and a consensus price target of $31.39.
In other news, CEO Jeffrey T. Mezger sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total value of $2,356,000.00. Following the transaction, the chief executive officer now owns 861,287 shares of the company’s stock, valued at $20,291,921.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP William R. Hollinger sold 79,564 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the completion of the transaction, the senior vice president now owns 234,539 shares of the company’s stock, valued at $5,619,554.44. The disclosure for this sale can be found here. Insiders sold a total of 577,382 shares of company stock worth $13,658,566 in the last ninety days. 8.60% of the stock is currently owned by insiders.
KBH stock traded down $0.23 during trading on Friday, reaching $20.69. The company had a trading volume of 2,211,027 shares, compared to its average volume of 2,114,958. KB Home has a 52 week low of $20.55 and a 52 week high of $38.80. The company has a market cap of $2.10 billion, a P/E ratio of 11.18, a PEG ratio of 0.46 and a beta of 1.35.
KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.10. KB Home had a net margin of 3.43% and a return on equity of 13.96%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. KB Home’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that KB Home will post 2.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Thursday, November 15th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, November 14th. KB Home’s 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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