Zacks: Brokerages Expect KB Home (NYSE:KBH) Will Announce Quarterly Sales of $1.09 Billion

Wall Street analysts forecast that KB Home (NYSE:KBH) will report sales of $1.09 billion for the current quarter, Zacks reports. Three analysts have made estimates for KB Home’s earnings, with estimates ranging from $1.06 billion to $1.12 billion. KB Home posted sales of $1.16 billion during the same quarter last year, which would indicate a negative year over year growth rate of 6%. The company is scheduled to issue its next earnings report on Wednesday, September 23rd.

According to Zacks, analysts expect that KB Home will report full-year sales of $4.32 billion for the current year, with estimates ranging from $3.85 billion to $4.66 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.73 billion, with estimates ranging from $4.48 billion to $5.09 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover KB Home.

KB Home (NYSE:KBH) last released its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. KB Home had a return on equity of 12.82% and a net margin of 6.43%. The business had revenue of $913.97 million during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year.

A number of research firms recently issued reports on KBH. TheStreet upgraded KB Home from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. lowered KB Home from a “neutral” rating to an “underweight” rating and set a $32.00 price objective for the company. in a research report on Thursday, June 11th. Raymond James reduced their price target on KB Home from $42.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Monday, March 30th. Wells Fargo & Co boosted their price target on KB Home from $24.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Credit Suisse Group initiated coverage on KB Home in a research report on Wednesday, May 27th. They set an “outperform” rating and a $36.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $33.72.

Institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in KB Home by 38.6% in the 4th quarter. US Bancorp DE now owns 5,097 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,419 shares in the last quarter. Swiss National Bank grew its stake in KB Home by 3.0% in the 4th quarter. Swiss National Bank now owns 152,000 shares of the construction company’s stock valued at $5,209,000 after acquiring an additional 4,400 shares during the period. Victory Capital Management Inc. grew its stake in KB Home by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 160,075 shares of the construction company’s stock valued at $5,486,000 after acquiring an additional 11,151 shares during the period. Acadian Asset Management LLC grew its stake in KB Home by 105.0% in the 4th quarter. Acadian Asset Management LLC now owns 26,534 shares of the construction company’s stock valued at $909,000 after acquiring an additional 13,590 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in KB Home by 161.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,731 shares of the construction company’s stock valued at $402,000 after acquiring an additional 7,242 shares during the period. 89.52% of the stock is currently owned by institutional investors.

NYSE:KBH traded down $0.80 during midday trading on Monday, reaching $28.58. 4,247,100 shares of the company traded hands, compared to its average volume of 2,588,021. KB Home has a twelve month low of $9.82 and a twelve month high of $40.51. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 1.75 and a beta of 1.94. The company has a fifty day moving average price of $31.49 and a 200 day moving average price of $30.38.

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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