KB Home (NYSE:KBH – Free Report) – Research analysts at Zacks Research lifted their FY2023 earnings per share (EPS) estimates for KB Home in a report released on Wednesday, October 4th. Zacks Research analyst S. Mukherjee now expects that the construction company will post earnings of $6.77 per share for the year, up from their prior estimate of $6.19. The consensus estimate for KB Home’s current full-year earnings is $6.92 per share. Zacks Research also issued estimates for KB Home’s Q4 2023 earnings at $1.58 EPS, Q1 2024 earnings at $1.52 EPS, Q2 2024 earnings at $1.76 EPS, Q3 2024 earnings at $2.00 EPS, Q4 2024 earnings at $1.92 EPS, FY2024 earnings at $7.20 EPS, Q1 2025 earnings at $1.64 EPS, Q2 2025 earnings at $1.80 EPS, Q3 2025 earnings at $2.14 EPS and FY2025 earnings at $7.82 EPS.
Other equities research analysts also recently issued research reports about the company. Wedbush decreased their target price on KB Home from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, September 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 price target on shares of KB Home in a report on Thursday, September 21st. Credit Suisse Group increased their price target on KB Home from $42.00 to $51.00 in a report on Thursday, June 22nd. Deutsche Bank Aktiengesellschaft increased their price target on KB Home from $49.00 to $61.00 in a report on Monday, June 26th. Finally, Raymond James raised KB Home from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a report on Friday, July 14th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.29.
KB Home Price Performance
Shares of NYSE KBH opened at $44.24 on Monday. KB Home has a 1-year low of $25.92 and a 1-year high of $55.37. The business has a 50-day moving average of $49.58 and a 200-day moving average of $47.46. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 0.91 and a beta of 1.68.
KB Home (NYSE:KBH – Get Free Report) last issued its earnings results on Wednesday, September 20th. The construction company reported $1.80 earnings per share 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 company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the business earned $2.86 earnings per share. The company’s revenue was down 14.0% compared to the same quarter last year.
Institutional Trading of KB Home
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of KB Home by 0.9% during the 2nd quarter. BlackRock Inc. now owns 10,306,480 shares of the construction company’s stock worth $532,948,000 after purchasing an additional 87,274 shares during the period. Vanguard Group Inc. raised its position in shares of KB Home by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 7,970,899 shares of the construction company’s stock worth $258,098,000 after purchasing an additional 108,191 shares during the period. FMR LLC raised 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 worth $248,674,000 after purchasing an additional 1,225,187 shares during the period. Macquarie Group Ltd. raised its position in shares of KB Home by 2.2% during the 2nd quarter. Macquarie Group Ltd. now owns 3,980,992 shares of the construction company’s stock worth $113,299,000 after purchasing an additional 85,582 shares during the period. Finally, State Street Corp increased its position in KB Home by 0.3% in the 1st quarter. State Street Corp now owns 2,793,847 shares of the construction company’s stock valued at $112,257,000 after acquiring an additional 7,935 shares during the period. 91.27% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at KB Home
In other KB Home news, CAO William R. Hollinger sold 4,529 shares of the company’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 sale, the chief accounting officer now owns 155,769 shares in the company, valued at $7,889,699.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Jeff Kaminski sold 108,396 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $51.15, for a total transaction of $5,544,455.40. Following the sale, the chief financial officer now directly owns 152,626 shares in the company, valued at approximately $7,806,819.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William R. Hollinger sold 4,529 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $50.65, for a total value of $229,393.85. Following the sale, the chief accounting officer now owns 155,769 shares in the company, valued at $7,889,699.85. The disclosure for this sale can be found here. Insiders have sold 162,574 shares of company stock worth $8,399,080 over the last quarter. 4.44% of the stock is owned by corporate insiders.
KB Home Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, November 8th. KB Home’s payout ratio is currently 10.44%.
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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