Kennedy-Wilson (NYSE:KW) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• Kennedy-Wilson reported a quarterly earnings per share (EPS) of $0.17, exceeding expectations by $0.10, despite a negative net margin of 9.11%.
• The company declared a quarterly dividend of $0.12 per share, resulting in an annualized dividend of $0.48 and a yield of 6.5%.
• CEO William J. Mcmorrow acquired 200,000 shares at an average cost of $6.36 per share, raising his ownership stake by 2.55%.

Kennedy-Wilson (NYSE:KW - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.10, Zacks reports. Kennedy-Wilson had a positive return on equity of 12.90% and a negative net margin of 9.11%. The company had revenue of $135.70 million during the quarter, compared to the consensus estimate of $229.98 million.

Kennedy-Wilson Trading Up 1.1%

Shares of KW traded up $0.09 during trading hours on Tuesday, hitting $7.70. The company had a trading volume of 323,591 shares, compared to its average volume of 888,082. The firm has a market cap of $1.06 billion, a P/E ratio of -11.48, a P/E/G ratio of 26.55 and a beta of 1.10. The stock's 50 day moving average price is $7.12 and its 200 day moving average price is $7.60. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 5.73. Kennedy-Wilson has a 52-week low of $5.98 and a 52-week high of $11.88.

Kennedy-Wilson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.48 annualized dividend and a yield of 6.2%. Kennedy-Wilson's payout ratio is -71.64%.

Insider Activity at Kennedy-Wilson

In related news, CEO William J. Mcmorrow acquired 200,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $6.36 per share, for a total transaction of $1,272,000.00. Following the completion of the acquisition, the chief executive officer owned 8,049,517 shares in the company, valued at approximately $51,194,928.12. This represents a 2.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 22.73% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Kennedy-Wilson by 19.5% in the 1st quarter. AQR Capital Management LLC now owns 23,868 shares of the financial services provider's stock valued at $207,000 after acquiring an additional 3,899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Kennedy-Wilson by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,577 shares of the financial services provider's stock valued at $587,000 after buying an additional 2,952 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Kennedy-Wilson during the 1st quarter valued at $92,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Kennedy-Wilson by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 879,644 shares of the financial services provider's stock valued at $7,635,000 after buying an additional 30,176 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Kennedy-Wilson by 756.4% during the 1st quarter. Jane Street Group LLC now owns 209,553 shares of the financial services provider's stock valued at $1,819,000 after buying an additional 185,083 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Kennedy-Wilson from a "sell" rating to a "buy" rating in a research report on Saturday.

Kennedy-Wilson Company Profile

Kennedy-Wilson Holdings, Inc, together with its subsidiaries, operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and office properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.