KB Home (NYSE:KBH) announced its earnings results on Tuesday. The construction company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33, MarketWatch Earnings reports. The business had revenue of $999.01 million for the quarter, compared to analyst estimates of $885.54 million. KB Home had a return on equity of 12.65% and a net margin of 6.43%. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS.
Shares of KBH traded down $1.49 on Wednesday, reaching $39.01. The stock had a trading volume of 27,363 shares, compared to its average volume of 2,243,092. The company has a 50-day simple moving average of $36.46 and a 200-day simple moving average of $29.52. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.62 and a beta of 1.96. KB Home has a 12-month low of $9.82 and a 12-month high of $40.86.
Several equities analysts have recently commented on KBH shares. Wedbush increased their price objective on KB Home from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Investment Research upgraded KB Home from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a research report on Wednesday, August 26th. Bank of America increased their price objective on KB Home from $42.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays reiterated an “overweight” rating and set a $45.00 price objective (up from $42.00) on shares of KB Home in a research report on Wednesday. Finally, Goldman Sachs Group lowered KB Home from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $31.00 to $26.00 in a research report on Thursday, July 16th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $39.47.
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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