$951.27 Million in Sales Expected for KB Home (NYSE:KBH) This Quarter

Brokerages expect that KB Home (NYSE:KBH) will announce $951.27 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for KB Home’s earnings. The highest sales estimate is $960.00 million and the lowest is $937.40 million. KB Home posted sales of $811.48 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.2%. The firm is scheduled to report its next earnings report on Tuesday, March 24th.

On average, analysts expect that KB Home will report full-year sales of $5.21 billion for the current fiscal year, with estimates ranging from $5.09 billion to $5.31 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.53 billion, with estimates ranging from $5.40 billion to $5.68 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover KB Home.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Thursday, January 9th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.02. KB Home had a return on equity of 11.99% and a net margin of 5.90%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year.

Several equities analysts have weighed in on the company. Evercore ISI reissued a “buy” rating on shares of KB Home in a research note on Wednesday, December 18th. ValuEngine lowered KB Home from a “sell” rating to a “strong sell” rating in a research note on Friday, January 3rd. Royal Bank of Canada increased their target price on KB Home from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Zacks Investment Research raised KB Home from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 target price (up previously from $25.00) on shares of KB Home in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. KB Home currently has an average rating of “Hold” and an average price target of $33.79.

NYSE:KBH traded down $0.40 during mid-day trading on Monday, hitting $36.33. The company had a trading volume of 328,800 shares, compared to its average volume of 1,721,443. KB Home has a fifty-two week low of $19.25 and a fifty-two week high of $37.59. The business’s fifty day moving average is $34.70 and its two-hundred day moving average is $31.51. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 1.68. The firm has a market cap of $3.25 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.92 and a beta of 1.24.

In other KB Home news, CFO Jeff Kaminski sold 13,657 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $36.26, for a total value of $495,202.82. Following the completion of the transaction, the chief financial officer now directly owns 112,033 shares in the company, valued at $4,062,316.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey T. Mezger sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $36.00, for a total value of $111,600.00. Following the completion of the transaction, the chief executive officer now owns 1,061,326 shares of the company’s stock, valued at $38,207,736. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 284,743 shares of company stock valued at $10,311,459. Corporate insiders own 7.32% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KBH. Vanguard Group Inc. lifted its holdings in KB Home by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,244,962 shares of the construction company’s stock worth $212,142,000 after purchasing an additional 169,523 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in KB Home by 666.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,881,172 shares of the construction company’s stock worth $74,133,000 after purchasing an additional 2,505,382 shares during the last quarter. Northern Trust Corp lifted its holdings in KB Home by 10.8% during the 2nd quarter. Northern Trust Corp now owns 1,759,883 shares of the construction company’s stock worth $45,282,000 after purchasing an additional 171,242 shares during the last quarter. Millennium Management LLC lifted its holdings in KB Home by 68.1% during the 3rd quarter. Millennium Management LLC now owns 929,694 shares of the construction company’s stock worth $31,609,000 after purchasing an additional 376,477 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in KB Home by 804.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 485,166 shares of the construction company’s stock worth $12,483,000 after purchasing an additional 431,512 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

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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