KB Home (NYSE:KBH) – Research analysts at SunTrust Banks issued their Q3 2019 earnings per share estimates for shares of KB Home in a note issued to investors on Monday, August 12th. SunTrust Banks analyst R. Seth expects that the construction company will earn $0.64 per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $35.00 price objective on the stock. SunTrust Banks also issued estimates for KB Home’s Q4 2019 earnings at $1.17 EPS, FY2019 earnings at $2.63 EPS, Q1 2020 earnings at $0.38 EPS, Q2 2020 earnings at $0.58 EPS, Q3 2020 earnings at $0.85 EPS, Q4 2020 earnings at $1.32 EPS, FY2020 earnings at $3.13 EPS and FY2021 earnings at $3.39 EPS.
A number of other research analysts have also recently commented on KBH. Barclays upgraded shares of KB Home from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $24.00 to $29.00 in a research report on Monday, May 13th. BTIG Research upgraded shares of KB Home from a “sell” rating to a “neutral” rating and set a $25.73 price target on the stock in a research report on Monday, July 1st. Raymond James upgraded shares of KB Home from an “underperform” rating to a “market perform” rating and set a $25.39 price target on the stock in a research report on Friday, June 28th. Wedbush reiterated a “neutral” rating and set a $22.00 price target (down from $25.00) on shares of KB Home in a research report on Thursday, June 27th. Finally, Bank of America reiterated a “neutral” rating and set a $28.00 price target (up from $26.00) on shares of KB Home in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $26.82.
KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, June 26th. The construction company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $933.49 million. KB Home had a net margin of 5.94% and a return on equity of 12.43%. KB Home’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.09 dividend. This is a boost from KB Home’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, July 31st. This represents a $0.36 annualized dividend and a dividend yield of 1.36%. KB Home’s dividend payout ratio (DPR) is currently 12.77%.
In other news, Director Melissa Lora sold 3,291 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $26.86, for a total value of $88,396.26. Following the transaction, the director now owns 169,994 shares in the company, valued at $4,566,038.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.32% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC lifted its position in KB Home by 804.2% during the second quarter. Nuveen Asset Management LLC now owns 485,166 shares of the construction company’s stock valued at $12,483,000 after buying an additional 431,512 shares during the period. UBS Asset Management Americas Inc. lifted its position in KB Home by 3.7% during the second quarter. UBS Asset Management Americas Inc. now owns 90,962 shares of the construction company’s stock valued at $2,340,000 after buying an additional 3,260 shares during the period. Neo Ivy Capital Management purchased a new position in KB Home during the second quarter valued at $55,000. Point72 Hong Kong Ltd lifted its position in KB Home by 2,212.3% during the second quarter. Point72 Hong Kong Ltd now owns 11,700 shares of the construction company’s stock valued at $301,000 after buying an additional 11,194 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in KB Home by 469.5% during the second quarter. Cubist Systematic Strategies LLC now owns 143,787 shares of the construction company’s stock valued at $3,700,000 after buying an additional 118,538 shares during the period. Hedge funds and other institutional investors own 87.64% of the company’s stock.
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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