KB Home (NYSE:KBH) Posts Quarterly Earnings Results

KB Home (NYSE:KBH) announced its earnings results on Wednesday. The construction company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.57 by $0.19, Briefing.com reports. KB Home had a net margin of 9.29% and a return on equity of 15.87%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $1.45 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis.

KB Home Stock Down 0.3 %

KB Home stock traded down $0.20 during midday trading on Friday, hitting $68.42. 238,018 shares of the stock were exchanged, compared to its average volume of 1,203,204. The company has a fifty day simple moving average of $63.45 and a two-hundred day simple moving average of $55.91. KB Home has a 52 week low of $38.26 and a 52 week high of $72.00. The stock has a market capitalization of $5.18 billion, a PE ratio of 9.28, a P/E/G ratio of 0.85 and a beta of 1.73.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.17%. The ex-dividend date was Wednesday, February 7th. KB Home’s payout ratio is 10.88%.

Insiders Place Their Bets

In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the sale, the chief executive officer now directly owns 1,491,298 shares in the company, valued at approximately $88,583,101.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of KB Home stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the completion of the transaction, the chief executive officer now directly owns 1,491,298 shares of the company’s stock, valued at $88,583,101.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian J. Woram sold 10,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $59.55, for a total transaction of $595,500.00. Following the completion of the sale, the executive vice president now directly owns 156,119 shares of the company’s stock, valued at approximately $9,296,886.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 373,635 shares of company stock worth $22,400,005. Company insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its stake in KB Home by 2.9% during the fourth quarter. Voya Investment Management LLC now owns 149,138 shares of the construction company’s stock worth $9,315,000 after buying an additional 4,235 shares during the last quarter. Prelude Capital Management LLC increased its position in shares of KB Home by 76.2% during the fourth quarter. Prelude Capital Management LLC now owns 11,741 shares of the construction company’s stock worth $733,000 after acquiring an additional 5,078 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of KB Home during the fourth quarter worth about $252,000. Brevan Howard Capital Management LP bought a new stake in shares of KB Home during the fourth quarter worth about $243,000. Finally, Royal Bank of Canada increased its position in shares of KB Home by 3.9% during the fourth quarter. Royal Bank of Canada now owns 226,282 shares of the construction company’s stock worth $14,133,000 after acquiring an additional 8,472 shares in the last quarter. Institutional investors own 91.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on KBH. Evercore ISI decreased their target price on shares of KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Barclays lifted their target price on shares of KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, UBS Group lifted their price target on shares of KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, KB Home has a consensus rating of “Hold” and a consensus target price of $61.96.

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.