KB Home (NYSE:KBH) Issues Quarterly Earnings Results

KB Home (NYSE:KBH) announced its quarterly earnings data on Tuesday. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01), FiscalAI reports. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 5.96% and a return on equity of 9.63%.

KB Home Stock Performance

NYSE KBH traded up $0.07 during trading on Tuesday, hitting $52.59. The stock had a trading volume of 2,467,487 shares, compared to its average volume of 1,177,355. The stock has a 50 day simple moving average of $51.22 and a 200 day simple moving average of $56.12. KB Home has a one year low of $44.03 and a one year high of $68.71. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 9.57 and a beta of 1.37.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 annualized dividend and a yield of 1.9%. KB Home’s dividend payout ratio (DPR) is presently 25.38%.

Hedge Funds Weigh In On KB Home

Institutional investors have recently modified their holdings of the stock. Freestone Grove Partners LP purchased a new position in shares of KB Home during the third quarter valued at $111,050,000. Goldman Sachs Group Inc. lifted its stake in shares of KB Home by 102.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock worth $52,584,000 after buying an additional 471,598 shares during the period. Bank of America Corp DE grew its stake in KB Home by 36.4% during the 3rd quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock valued at $65,758,000 after purchasing an additional 275,965 shares during the last quarter. Trexquant Investment LP boosted its position in KB Home by 897.9% in the fourth quarter. Trexquant Investment LP now owns 222,693 shares of the construction company’s stock valued at $12,562,000 after buying an additional 200,377 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of KB Home by 22.8% in the 3rd quarter. UBS Group AG now owns 815,137 shares of the construction company’s stock valued at $51,875,000 after acquiring an additional 151,202 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group cut their price target on shares of KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Wall Street Zen cut shares of KB Home from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Barclays decreased their price objective on KB Home from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a report on Wednesday, June 17th. Finally, Royal Bank Of Canada reduced their price objective on shares of KB Home from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 25th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, KB Home currently has an average rating of “Hold” and an average price target of $59.17.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.