KBR (NYSE:KBR) Stock Price Up 7.8% – Here’s Why

KBR, Inc. (NYSE:KBR) shares rose 7.8% on Thursday . The stock traded as high as $59.77 and last traded at $59.51. Approximately 567,007 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,190,606 shares. The stock had previously closed at $55.19.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TD Cowen cut shares of KBR from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research report on Friday, September 6th. StockNews.com downgraded KBR from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 6th. UBS Group lifted their price objective on KBR from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson reissued a “buy” rating and set a $84.00 target price on shares of KBR in a research note on Tuesday, November 19th. Finally, KeyCorp raised their target price on shares of KBR from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.14.

KBR Trading Up 3.9 %

The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.18 and a beta of 0.84. The business has a 50-day simple moving average of $64.27 and a two-hundred day simple moving average of $64.76. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.07 and a current ratio of 1.07.

KBR (NYSE:KBR) last announced its earnings results on Wednesday, October 23rd. The construction company reported $0.84 EPS for the quarter, hitting the consensus estimate of $0.84. KBR had a net margin of 4.35% and a return on equity of 28.87%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts forecast that KBR, Inc. will post 3.27 EPS for the current year.

KBR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.05%. KBR’s dividend payout ratio is 25.21%.

Institutional Investors Weigh In On KBR

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in KBR in the third quarter valued at $26,000. Larson Financial Group LLC grew its holdings in KBR by 2,029.2% during the second quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $33,000 after purchasing an additional 487 shares during the period. CWM LLC raised its stake in KBR by 39.4% in the second quarter. CWM LLC now owns 817 shares of the construction company’s stock valued at $52,000 after buying an additional 231 shares during the period. Quarry LP lifted its position in shares of KBR by 454.7% in the second quarter. Quarry LP now owns 821 shares of the construction company’s stock valued at $53,000 after buying an additional 673 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of KBR during the 3rd quarter worth approximately $65,000. Institutional investors own 97.02% of the company’s stock.

KBR Company Profile

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.