Investment analysts at Seaport Res Ptn have raised their FY2023 earnings per share (EPS) estimates for KB Home, a construction company. The new forecast predicts that KB Home will earn $6.82 per share for the year, surpassing the prior estimate of $5.92. Seaport Res Ptn currently rates the stock as “Neutral.” The consensus estimate for KB Home’s full-year earnings in 2023 is $6.66 per share. Seaport Res Ptn has also provided estimates for Q4 2023 earnings at $1.60 per share and FY2024 earnings at $7.68 per share.
Other research analysts have also recently issued reports on KB Home. StockNews.com initiated coverage on the company with a “hold” rating. Wedbush reduced their price target on the stock from $64.00 to $55.00 and gave it an “outperform” rating. Bank of America raised their price objective from $52.00 to $53.00 and Credit Suisse Group upped their target price from $42.00 to $51.00. UBS Group also raised their price target from $65.00 to $68.00 and gave the stock a “buy” rating. Six investment analysts have rated the stock as “hold” and five have given it a “buy” rating. The average rating for KB Home is “Hold” with a consensus price target of $52.29.
KB Home opened at $46.20 on the New York Stock Exchange. The company has a 50-day moving average price of $51.25 and a 200-day moving average price of $46.77. With a market capitalization of $3.72 billion, a P/E ratio of 6.03, a PEG ratio of 1.02, and a beta of 1.68, KB Home has a 1-year low of $25.31 and a 1-year high of $55.37.
In its latest quarterly earnings results, KB Home reported EPS of $1.80, beating analysts’ consensus estimate of $1.43. The company’s revenue for the quarter was $1.59 billion, surpassing the consensus estimate of $1.47 billion. KB Home’s revenue for the quarter was down 14.0% compared to the same period last year.
Several hedge funds and institutional investors have recently increased or decreased their stakes in KB Home. Barclays PLC boosted its holdings by 76.4% in the second quarter, while Virginia Retirement Systems ET AL acquired a new position in the company. Osaic Holdings Inc. and Teachers Retirement System of The State of Kentucky also increased their holdings. Institutional investors and hedge funds now own 91.27% of the company’s stock.
Insider transactions include EVP Brian J. Woram selling 40,000 shares of KB Home stock, and CAO William R. Hollinger selling 4,529 shares. In the past 90 days, insiders have sold a total of 162,574 shares, valued at $8,399,080.
KB Home recently announced an increase in its quarterly dividend. The new dividend payout is $0.20 per share, up from the previous $0.15. The ex-dividend date was on August 2nd, and the dividend was paid on August 17th. KB Home’s annualized dividend is $0.80, with a yield of 1.73%. The company’s dividend payout ratio is 10.44%.
KB Home operates as a homebuilding company in the United States, with four main segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential properties.
– Seaport Res Ptn
– Bank of America
– Credit Suisse Group
– UBS Group
– EPS: Earnings Per Share, an indicator of a company’s profitability
– Hedge Fund: an investment partnership that pools capital from accredited investors and institutional investors and invests in a variety of assets
– Institutional Investor: an organization that invests large sums of money on behalf of its clients
– P/E Ratio: Price-to-Earnings Ratio, a valuation ratio calculated by dividing a company’s market price per share by its earnings per share
– PEG Ratio: Price/Earnings to Growth Ratio, a valuation ratio that takes into account a company’s expected future growth rate
– Beta: a measure of a stock’s volatility in relation to the overall market
– Dividend: a payment made by a corporation to its shareholders, usually as a distribution of profits