KB Home (NYSE:KBH) Announces Earnings Results, Beats Expectations By $0.13 EPS

KB Home (NYSE:KBH) announced its earnings results on Thursday. The construction company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.13, Zacks reports. KB Home had a net margin of 7.92% and a return on equity of 12.91%.

KB Home Trading Down 0.3%

KBH stock traded down $0.16 during trading on Thursday, reaching $62.78. 2,707,287 shares of the stock were exchanged, compared to its average volume of 1,385,968. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 5.20 and a beta of 1.40. The business has a 50 day moving average price of $62.03 and a 200-day moving average price of $59.94. KB Home has a 1 year low of $48.90 and a 1 year high of $72.64.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, November 13th. KB Home’s dividend payout ratio (DPR) is presently 13.25%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KBH. Weiss Ratings restated a “hold (c+)” rating on shares of KB Home in a research note on Wednesday, October 8th. Raymond James Financial increased their price objective on shares of KB Home from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. cut their price target on KB Home from $63.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. UBS Group reaffirmed a “buy” rating and set a $83.00 target price on shares of KB Home in a report on Thursday, September 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of KB Home from $58.00 to $59.00 and gave the company a “sector perform” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.36.

Insider Buying and Selling

In other news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total value of $1,218,662.72. Following the transaction, the executive vice president owned 104,062 shares of the company’s stock, valued at $6,252,044.96. This represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fulcrum Asset Management LLP acquired a new stake in shares of KB Home in the third quarter valued at $36,000. Sunbelt Securities Inc. purchased a new stake in shares of KB Home during the 3rd quarter worth $64,000. CIBC Private Wealth Group LLC raised its position in shares of KB Home by 78.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,228 shares of the construction company’s stock worth $142,000 after acquiring an additional 977 shares in the last quarter. Advisory Services Network LLC purchased a new position in KB Home during the 3rd quarter worth approximately $154,000. Finally, EverSource Wealth Advisors LLC increased its stake in KB Home by 23.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company’s stock valued at $134,000 after purchasing an additional 482 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Company Profile

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.