Brokers Offer Predictions for KB Home’s Q1 2024 Earnings (NYSE:KBH)

KB Home (NYSE:KBH) – Research analysts at Wedbush decreased their Q1 2024 EPS estimates for KB Home in a research report issued on Monday, November 20th. Wedbush analyst J. Mccanless now expects that the construction company will earn $1.46 per share for the quarter, down from their previous estimate 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.

KB Home (NYSE:KBH) last released its quarterly earnings results on Wednesday, September 20th. The construction company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company earned $2.86 EPS. KB Home’s revenue for the quarter was down 14.0% on a year-over-year basis.

A number of other equities research analysts have also commented on KBH. StockNews.com started coverage on shares of KB Home in a report on Thursday, October 5th. They set a “hold” rating on the stock. Wells Fargo & Company raised their price target on shares of KB Home from $49.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, November 8th. UBS Group upped 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 target price on shares of KB Home in a research note on Thursday, September 21st. Finally, The Goldman Sachs Group cut KB Home from a “buy” rating to a “neutral” rating and decreased their price target for the company from $54.00 to $48.00 in a report on Monday, October 16th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $53.35.

KB Home Stock Performance

Shares of KBH stock opened at $53.41 on Tuesday. KB Home has a 52 week low of $29.42 and a 52 week high of $55.37. The stock has a market capitalization of $4.24 billion, a PE ratio of 6.97 and a beta of 1.66. The stock’s fifty day moving average is $47.00 and its 200-day moving average is $48.86.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.80 annualized dividend and a yield of 1.50%. KB Home’s dividend payout ratio (DPR) is presently 10.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBH. Jacobs Levy Equity Management Inc. lifted its position in KB Home by 225.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock valued at $41,435,000 after acquiring an additional 620,238 shares in the last quarter. Creative Planning boosted its holdings in shares of KB Home by 7.5% in the 3rd quarter. Creative Planning now owns 10,869 shares of the construction company’s stock valued at $503,000 after buying an additional 761 shares during the last quarter. Harbour Investments Inc. increased its holdings in KB Home by 159.7% during the third quarter. Harbour Investments Inc. now owns 1,314 shares of the construction company’s stock worth $61,000 after buying an additional 808 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in KB Home during the third quarter worth $1,952,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of KB Home during the 3rd quarter worth about $208,000. 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.