KB Home (NYSE:KBH – Free Report) – Analysts at Wedbush raised their FY2023 earnings per share estimates for KB Home in a report released on Thursday, September 21st. Wedbush analyst J. Mccanless now expects that the construction company will post earnings per share of $7.03 for the year, up from their previous estimate of $6.42. Wedbush has a “Outperform” rating and a $55.00 price objective on the stock. The consensus estimate for KB Home’s current full-year earnings is $6.66 per share.
KB Home (NYSE:KBH – Get Free Report) last announced its earnings results on Wednesday, September 20th. The construction company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.37. KB Home had a return on equity of 17.56% and a net margin of 9.83%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm posted $2.86 earnings per share. The business’s revenue for the quarter was down 14.0% on a year-over-year basis.
Read Our Latest Analysis on KB Home
KB Home Stock Up 0.4 %
KBH stock opened at $46.20 on Monday. KB Home has a twelve month low of $25.31 and a twelve month high of $55.37. The stock has a market cap of $3.72 billion, a P/E ratio of 6.03, a PEG ratio of 1.02 and a beta of 1.68. The business’s 50-day moving average price is $51.25 and its 200-day moving average price is $46.77.
KB Home Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were paid a $0.20 dividend. This is an increase from KB Home’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.73%. KB Home’s payout ratio is presently 10.44%.
Insiders Place Their Bets
In other KB Home news, CFO Jeff Kaminski sold 108,396 shares of KB Home stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $51.15, for a total value of $5,544,455.40. Following the sale, the chief financial officer now owns 152,626 shares of the company’s stock, valued at approximately $7,806,819.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO William R. Hollinger sold 4,529 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $50.65, for a total transaction of $229,393.85. Following the transaction, the chief accounting officer now owns 155,769 shares of the company’s stock, valued at approximately $7,889,699.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeff Kaminski sold 108,396 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $51.15, for a total value of $5,544,455.40. Following the transaction, the chief financial officer now directly owns 152,626 shares in the company, valued at approximately $7,806,819.90. The disclosure for this sale can be found here. Insiders have sold a total of 162,574 shares of company stock valued at $8,399,080 in the last quarter. 4.44% of the stock is currently owned by insiders.
Hedge Funds Weigh In On KB Home
Several large investors have recently modified their holdings of KBH. FMR LLC increased its position in shares of KB Home by 24.7% during the 1st quarter. FMR LLC now owns 6,188,991 shares of the construction company’s stock valued at $248,674,000 after purchasing an additional 1,225,187 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of KB Home by 125.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock valued at $67,281,000 after purchasing an additional 1,156,233 shares during the last quarter. Norges Bank bought a new position in shares of KB Home during the 4th quarter valued at approximately $29,141,000. AQR Capital Management LLC boosted its holdings in KB Home by 90.9% during the 4th quarter. AQR Capital Management LLC now owns 1,436,592 shares of the construction company’s stock valued at $45,655,000 after acquiring an additional 684,199 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in KB Home by 1,871.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 615,588 shares of the construction company’s stock valued at $24,734,000 after acquiring an additional 584,363 shares during the period. Institutional investors own 91.27% of the company’s stock.
About KB Home
KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.
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