KB Home (NYSE:KBH) Announces Quarterly Dividend of $0.25

KB Home (NYSE:KBH) declared a quarterly dividend on Thursday, October 10th,Wall Street Journal reports. Investors of record on Thursday, November 14th will be given a dividend of 0.25 per share by the construction company on Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, November 14th.

KB Home has raised its dividend by an average of 18.6% annually over the last three years. KB Home has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect KB Home to earn $9.15 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 10.9%.

KB Home Price Performance

Shares of KBH stock opened at $81.18 on Wednesday. The company has a market cap of $5.95 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.71 and a beta of 1.81. KB Home has a 1 year low of $51.53 and a 1 year high of $89.70. The stock’s 50 day simple moving average is $82.11 and its two-hundred day simple moving average is $76.90.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 EPS. Equities research analysts expect that KB Home will post 8.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $80.00 to $83.00 in a research note on Monday, October 7th. Bank of America increased their price objective on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a research report on Thursday, September 5th. The Goldman Sachs Group increased their price target on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, Wedbush boosted their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, KB Home currently has an average rating of “Hold” and an average price target of $77.50.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.52% 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.