KB Home (NYSE:KBH) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

KB Home (NYSE:KBH) posted its quarterly earnings results on Tuesday. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01), FiscalAI reports. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. KB Home had a net margin of 5.96% and a return on equity of 9.63%.

KB Home Stock Up 0.1%

Shares of KBH traded up $0.07 during mid-day trading on Tuesday, hitting $52.59. 2,574,139 shares of the company’s stock were exchanged, compared to its average volume of 1,181,125. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 9.57 and a beta of 1.37. The firm has a fifty day moving average of $51.22 and a two-hundred day moving average of $56.12. KB Home has a twelve month low of $44.03 and a twelve month high of $68.71.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. KB Home’s dividend payout ratio is 25.38%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Seaport Research Partners restated a “sell” rating and set a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Citigroup reissued a “market outperform” rating on shares of KB Home in a research note on Wednesday, June 17th. Citizens Jmp assumed coverage on shares of KB Home in a report on Tuesday, March 24th. They set an “outperform” rating and a $77.00 price target on the stock. Truist Financial dropped their price target on shares of KB Home from $54.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Finally, The Goldman Sachs Group cut their price objective on KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.17.

Hedge Funds Weigh In On KB Home

Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its position in shares of KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock worth $33,000 after buying an additional 250 shares during the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of KB Home during the 3rd quarter valued at about $36,000. Sunbelt Securities Inc. acquired a new position in shares of KB Home during the 3rd quarter valued at about $64,000. CIBC Private Wealth Group LLC raised its stake in shares of KB Home by 78.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,228 shares of the construction company’s stock valued at $142,000 after acquiring an additional 977 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of KB Home in the 3rd quarter valued at approximately $154,000. 96.09% of the stock is owned by institutional investors and hedge funds.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.