Kennedy-Wilson (NYSE:KW) Posts 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) announced 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 negative net margin of 9.11% and a positive return on equity of 12.90%. The firm had revenue of $135.70 million during the quarter, compared to the consensus estimate of $229.98 million.

Kennedy-Wilson Stock Up 1.8%

KW stock traded up $0.13 during trading on Friday, hitting $7.59. 1,399,805 shares of the company's stock traded hands, compared to its average volume of 803,842. The firm has a market capitalization of $1.05 billion, a P/E ratio of -11.33, a PEG ratio of 26.55 and a beta of 1.10. The business has a fifty day simple moving average of $7.09 and a two-hundred day simple moving average of $7.61. The company has a quick ratio of 1.05, a current ratio of 0.97 and a debt-to-equity ratio of 5.73. Kennedy-Wilson has a 1 year low of $5.98 and a 1 year high of $11.88.

Kennedy-Wilson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Kennedy-Wilson's payout ratio is currently -71.64%.

Insider Transactions at Kennedy-Wilson

In other Kennedy-Wilson news, CEO William J. Mcmorrow acquired 200,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average cost of $6.36 per share, with a total value of $1,272,000.00. Following the completion of the acquisition, the chief executive officer directly owned 8,049,517 shares in the company, valued at $51,194,928.12. This represents a 2.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kennedy-Wilson

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kennedy-Wilson by 3.6% in the first 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 worth $7,635,000 after purchasing an additional 30,176 shares during the last quarter. Jane Street Group LLC grew its holdings in Kennedy-Wilson by 756.4% in the first quarter. Jane Street Group LLC now owns 209,553 shares of the financial services provider's stock worth $1,819,000 after purchasing an additional 185,083 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Kennedy-Wilson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,577 shares of the financial services provider's stock worth $587,000 after purchasing an additional 2,952 shares during the last quarter. AQR Capital Management LLC grew its holdings in Kennedy-Wilson by 19.5% in the first quarter. AQR Capital Management LLC now owns 23,868 shares of the financial services provider's stock worth $207,000 after purchasing an additional 3,899 shares during the last quarter. Finally, Strs Ohio purchased a new position in Kennedy-Wilson in the first quarter worth $186,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Kennedy-Wilson

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.