Brokerages Expect KB Home (NYSE:KBH) Will Post Earnings of $1.31 Per Share

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Wall Street brokerages forecast that KB Home (NYSE:KBH) will report earnings of $1.31 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for KB Home’s earnings. The lowest EPS estimate is $1.25 and the highest is $1.35. KB Home posted earnings per share of $0.96 in the same quarter last year, which suggests a positive year-over-year growth rate of 36.5%. The company is expected to report its next quarterly earnings report on Wednesday, January 8th.

On average, analysts expect that KB Home will report full-year earnings of $2.85 per share for the current year, with EPS estimates ranging from $2.79 to $2.89. For the next year, analysts anticipate that the business will post earnings of $3.46 per share, with EPS estimates ranging from $3.25 to $3.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for KB Home.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, September 25th. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. KB Home had a return on equity of 11.18% and a net margin of 5.58%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 EPS.

Several research analysts have weighed in on KBH shares. Zacks Investment Research cut KB Home from a “strong-buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Wednesday, August 28th. SunTrust Banks began coverage on shares of KB Home in a report on Monday, August 12th. They set a “buy” rating and a $35.00 price target for the company. Royal Bank of Canada lifted their target price on shares of KB Home to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Barclays lifted their target price on shares of KB Home from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Seaport Global Securities cut shares of KB Home from a “buy” rating to a “neutral” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.78.

In other news, CEO Jeffrey T. Mezger sold 3,100 shares of KB Home stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $36.00, for a total value of $111,600.00. Following the transaction, the chief executive officer now owns 1,061,326 shares of the company’s stock, valued at $38,207,736. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeff Kaminski sold 13,657 shares of KB Home stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $36.26, for a total transaction of $495,202.82. Following the completion of the transaction, the chief financial officer now directly owns 112,033 shares in the company, valued at approximately $4,062,316.58. The disclosure for this sale can be found here. Insiders sold 470,643 shares of company stock valued at $16,120,743 over the last quarter. Corporate insiders own 7.32% of the company’s stock.

Several large investors have recently added to or reduced their stakes in KBH. Balyasny Asset Management LLC raised its position in shares of KB Home by 666.7% in the second quarter. Balyasny Asset Management LLC now owns 2,881,172 shares of the construction company’s stock valued at $74,133,000 after purchasing an additional 2,505,382 shares during the period. Nuveen Asset Management LLC raised its position in shares of KB Home by 804.2% in the second quarter. Nuveen Asset Management LLC now owns 485,166 shares of the construction company’s stock valued at $12,483,000 after purchasing an additional 431,512 shares during the period. Millennium Management LLC raised its position in shares of KB Home by 68.1% in the third quarter. Millennium Management LLC now owns 929,694 shares of the construction company’s stock valued at $31,609,000 after purchasing an additional 376,477 shares during the period. Luxor Capital Group LP bought a new position in shares of KB Home in the third quarter valued at approximately $11,057,000. Finally, Invesco Ltd. raised its position in shares of KB Home by 132.1% in the second quarter. Invesco Ltd. now owns 418,082 shares of the construction company’s stock valued at $10,757,000 after purchasing an additional 237,966 shares during the period. 89.92% of the stock is currently owned by institutional investors.

KBH stock traded down $0.48 during trading hours on Wednesday, hitting $34.10. 66,097 shares of the stock were exchanged, compared to its average volume of 1,317,484. The company has a current ratio of 4.82, a quick ratio of 0.52 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $3.06 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.31 and a beta of 1.27. The company has a 50-day simple moving average of $34.93 and a two-hundred day simple moving average of $29.47. KB Home has a 12 month low of $18.24 and a 12 month high of $37.40.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 7th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Wednesday, November 13th. KB Home’s dividend payout ratio (DPR) is presently 12.77%.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company 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.

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