KB Home (NYSE:KBH – Free Report) – Stock analysts at Wedbush dropped their Q1 2024 earnings estimates for KB Home in a note issued to investors on Monday, November 20th. Wedbush analyst J. Mccanless now expects that the construction company will post earnings of $1.46 per share for the quarter, down from their prior forecast of $1.66. Wedbush has a “Neutral” rating and a $55.00 price objective on the stock. The consensus estimate for KB Home’s current full-year earnings is $6.92 per share. Wedbush also issued estimates for KB Home’s Q2 2024 earnings at $1.52 EPS and Q4 2024 earnings at $2.25 EPS.
Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group downgraded shares of KB Home from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $54.00 to $48.00 in a research note on Monday, October 16th. Barclays reduced their price objective on shares of KB Home from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, October 12th. StockNews.com began coverage on KB Home in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.00 price target on shares of KB Home in a research report on Thursday, September 21st. Finally, UBS Group increased their price objective on KB Home from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.35.
KB Home Stock Performance
KBH stock opened at $53.41 on Tuesday. The stock has a fifty day moving average of $47.00 and a 200-day moving average of $48.86. KB Home has a fifty-two week low of $29.42 and a fifty-two week high of $55.37. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 6.97 and a beta of 1.66.
KB Home (NYSE:KBH – Get Free Report) last announced its quarterly earnings data on Wednesday, September 20th. The construction company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.37. KB Home had a return on equity of 17.56% and a net margin of 9.83%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company earned $2.86 earnings per share. KB Home’s revenue was down 14.0% compared to the same quarter last year.
KB Home Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, November 8th. KB Home’s dividend payout ratio is currently 10.44%.
Institutional Investors Weigh In On KB Home
Several hedge funds have recently bought and sold shares of the stock. Citigroup Inc. raised its position in shares of KB Home by 20.9% during the 1st quarter. Citigroup Inc. now owns 109,019 shares of the construction company’s stock valued at $3,530,000 after buying an additional 18,818 shares in the last quarter. Acadian Asset Management LLC lifted its stake in KB Home by 35.5% during the first quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company’s stock worth $69,000 after purchasing an additional 568 shares during the last quarter. MetLife Investment Management LLC lifted its stake in KB Home by 39.7% during the first quarter. MetLife Investment Management LLC now owns 96,105 shares of the construction company’s stock worth $3,112,000 after purchasing an additional 27,327 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of KB Home by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,411 shares of the construction company’s stock worth $1,017,000 after purchasing an additional 2,995 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of KB Home by 7.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 47,231 shares of the construction company’s stock valued at $1,571,000 after purchasing an additional 3,140 shares during the last quarter. 91.27% of the stock is currently owned by institutional investors.
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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