Wall Street brokerages forecast that KB Home (NYSE:KBH) will post sales of $1.56 billion for the current fiscal quarter, Zacks reports. Five analysts have made estimates for KB Home's earnings. The lowest sales estimate is $1.54 billion and the highest is $1.57 billion. KB Home reported sales of $999.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 56.2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, September 28th.
On average, analysts expect that KB Home will report full year sales of $6.03 billion for the current financial year, with estimates ranging from $5.98 billion to $6.08 billion. For the next financial year, analysts expect that the company will post sales of $7.04 billion, with estimates ranging from $6.53 billion to $7.52 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research firms that follow KB Home.
KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, June 22nd. The construction company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.31 by $0.19. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.48 billion. KB Home had a return on equity of 15.64% and a net margin of 8.90%. The business's quarterly revenue was up 57.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share.
Several brokerages recently issued reports on KBH. Wells Fargo & Company began coverage on KB Home in a report on Wednesday, April 21st. They set an "overweight" rating and a $55.00 price target for the company. Raymond James increased their price objective on KB Home from $48.00 to $55.00 and gave the stock a "strong-buy" rating in a report on Friday, March 26th. Royal Bank of Canada raised their price target on KB Home from $46.00 to $47.00 and gave the company a "sector perform" rating in a report on Thursday, June 24th. Seaport Global Securities upgraded KB Home from a "neutral" rating to a "buy" rating and set a $50.00 price objective on the stock in a research report on Monday. Finally, Seaport Res Ptn upgraded KB Home from a "neutral" rating to a "buy" rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. KB Home has a consensus rating of "Buy" and a consensus price target of $48.79.
Shares of KBH opened at $41.02 on Thursday. KB Home has a 52-week low of $30.25 and a 52-week high of $52.48. The firm has a 50 day simple moving average of $42.89. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 9.18 and a beta of 1.81.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 19th. Shareholders of record on Thursday, August 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.46%. KB Home's dividend payout ratio is currently 19.17%.
Several institutional investors and hedge funds have recently modified their holdings of KBH. Eudaimonia Partners LLC lifted its stake in KB Home by 9.9% in the 1st quarter. Eudaimonia Partners LLC now owns 2,527 shares of the construction company's stock worth $118,000 after purchasing an additional 227 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of KB Home by 0.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,680 shares of the construction company's stock worth $1,381,000 after acquiring an additional 268 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of KB Home by 0.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 100,275 shares of the construction company's stock worth $3,361,000 after acquiring an additional 311 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of KB Home by 4.0% in the first quarter. First Horizon Advisors Inc. now owns 9,075 shares of the construction company's stock worth $422,000 after acquiring an additional 350 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of KB Home by 0.8% in the first quarter. US Bancorp DE now owns 43,919 shares of the construction company's stock worth $2,044,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company's stock.
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.
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