Wedbush Analysts Lift Earnings Estimates for KB Home (NYSE:KBH)

KB Home (NYSE:KBH) – Stock analysts at Wedbush boosted their Q3 2020 earnings per share (EPS) estimates for shares of KB Home in a research report issued on Thursday, September 17th. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings of $0.53 per share for the quarter, up from their previous forecast of $0.43. Wedbush currently has a “Neutral” rating and a $38.00 price target on the stock.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $913.97 million for the quarter, compared to analysts’ expectations of $1.08 billion. KB Home had a return on equity of 12.65% and a net margin of 6.43%. KB Home’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS.

A number of other brokerages have also recently weighed in on KBH. Goldman Sachs Group cut KB Home from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $31.00 to $26.00 in a report on Thursday, July 16th. Zacks Investment Research raised KB Home from a “hold” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research note on Wednesday, August 26th. Barclays lifted their price target on KB Home from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, September 17th. Seaport Global Securities cut KB Home from a “buy” rating to a “neutral” rating in a research note on Thursday, August 13th. Finally, ValuEngine raised KB Home from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $36.33.

Shares of NYSE KBH opened at $38.93 on Monday. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.62 and a beta of 1.96. KB Home has a 1-year low of $9.82 and a 1-year high of $40.51. The stock’s 50-day moving average is $36.35 and its 200 day moving average is $29.50.

In related news, Director Melissa Lora sold 8,202 shares of KB Home stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of $31.70, for a total transaction of $260,003.40. Following the sale, the director now directly owns 177,193 shares in the company, valued at $5,617,018.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian J. Woram sold 49,967 shares of KB Home stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $36.50, for a total value of $1,823,795.50. Insiders own 5.36% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. bought a new stake in shares of KB Home during the first quarter valued at approximately $26,000. Verus Capital Partners LLC purchased a new position in KB Home during the first quarter valued at $27,000. Northwestern Mutual Wealth Management Co. raised its stake in KB Home by 286.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,683 shares of the construction company’s stock valued at $49,000 after buying an additional 1,988 shares during the last quarter. Citizens Financial Group Inc RI raised its stake in KB Home by 5,070.8% during the second quarter. Citizens Financial Group Inc RI now owns 3,361 shares of the construction company’s stock valued at $103,000 after buying an additional 3,296 shares during the last quarter. Finally, Advisor Group Holdings Inc. purchased a new position in KB Home during the first quarter valued at $91,000. Institutional investors own 90.38% of the company’s stock.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.

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Earnings History and Estimates for KB Home (NYSE:KBH)

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