Zacks Research Analysts Increase Earnings Estimates for KB Home (NYSE:KBH)

KB Home (NYSE:KBH - Free Report) - Equities researchers at Zacks Research boosted their Q2 2024 earnings per share (EPS) estimates for KB Home in a research report issued on Monday, April 1st. Zacks Research analyst S. Mukherjee now expects that the construction company will post earnings of $1.80 per share for the quarter, up from their previous forecast of $1.73. The consensus estimate for KB Home's current full-year earnings is $7.82 per share. Zacks Research also issued estimates for KB Home's Q3 2024 earnings at $2.04 EPS, Q4 2024 earnings at $2.31 EPS, FY2024 earnings at $7.91 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $2.04 EPS, Q3 2025 earnings at $2.26 EPS, FY2025 earnings at $8.44 EPS, Q1 2026 earnings at $1.82 EPS and FY2026 earnings at $8.93 EPS.

KB Home (NYSE:KBH - Get Free Report) last posted its earnings results on Wednesday, March 20th. The construction company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the previous year, the business earned $1.45 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut KB Home from a "hold" rating to a "sell" rating and cut their price objective for the stock from $55.00 to $46.00 in a report on Friday, December 8th. The Goldman Sachs Group boosted their target price on KB Home from $61.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, March 22nd. Keefe, Bruyette & Woods boosted their target price on KB Home from $67.00 to $77.00 and gave the company a "market perform" rating in a research note on Thursday, March 28th. Royal Bank of Canada boosted their target price on KB Home from $63.00 to $69.00 and gave the company a "sector perform" rating in a research note on Thursday, March 21st. Finally, Raymond James boosted their target price on KB Home from $61.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, KB Home currently has a consensus rating of "Hold" and a consensus price target of $66.11.

KB Home Trading Down 3.2 %

Shares of KBH traded down $2.22 during midday trading on Tuesday, reaching $67.65. The stock had a trading volume of 1,207,647 shares, compared to its average volume of 1,207,580. The company's 50-day moving average is $64.80 and its 200 day moving average is $57.08. KB Home has a 12-month low of $38.26 and a 12-month high of $72.00. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.82 and a beta of 1.73.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KBH. Citigroup Inc. grew its position in shares of KB Home by 20.9% during the first quarter. Citigroup Inc. now owns 109,019 shares of the construction company's stock valued at $3,530,000 after purchasing an additional 18,818 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of KB Home by 35.5% during the first quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company's stock valued at $69,000 after purchasing an additional 568 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of KB Home by 39.7% during the first quarter. MetLife Investment Management LLC now owns 96,105 shares of the construction company's stock valued at $3,112,000 after purchasing an additional 27,327 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of KB Home by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,411 shares of the construction company's stock valued at $1,017,000 after purchasing an additional 2,995 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of KB Home by 7.1% during the first quarter. Great West Life Assurance Co. Can now owns 47,231 shares of the construction company's stock valued at $1,571,000 after purchasing an additional 3,140 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

Insider Transactions at KB Home

In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the firm's stock in a transaction dated Thursday, January 25th. The stock was 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 of the company's stock, valued at $88,583,101.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other KB Home news, Director Arthur Reginald Collins sold 5,500 shares of the firm's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $60.12, for a total transaction of $330,660.00. Following the sale, the director now directly owns 9,098 shares of the company's stock, valued at $546,971.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey T. Mezger sold 165,307 shares of the firm's stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $59.40, for a total value of $9,819,235.80. Following the sale, the chief executive officer now directly owns 1,491,298 shares in the company, valued at $88,583,101.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 373,635 shares of company stock valued at $22,400,005. Corporate insiders own 3.52% of the company's stock.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, February 7th. KB Home's dividend payout ratio is currently 10.88%.

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.