$1.61 Billion in Sales Expected for KB Home (NYSE:KBH) This Quarter

Wall Street analysts expect that KB Home (NYSE:KBH – Get Rating) will post sales of $1.61 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for KB Home’s earnings, with the highest sales estimate coming in at $1.61 billion and the lowest estimate coming in at $1.60 billion. KB Home posted sales of $1.44 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.8%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that KB Home will report full-year sales of $7.40 billion for the current fiscal year, with estimates ranging from $7.30 billion to $7.46 billion. For the next year, analysts anticipate that the business will post sales of $8.38 billion, with estimates ranging from $8.14 billion to $8.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow KB Home.

KB Home (NYSE:KBH – Get Rating) last announced its quarterly earnings data on Wednesday, March 23rd. The construction company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.05). KB Home had a net margin of 10.06% and a return on equity of 20.40%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company earned $1.02 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year.

KBH has been the topic of several research reports. Zacks Investment Research cut KB Home from a “buy” rating to a “hold” rating and set a $39.00 price objective on the stock. in a research note on Wednesday, March 16th. Wedbush restated an “outperform” rating and set a $73.00 price objective on shares of KB Home in a research note on Friday, March 18th. Royal Bank of Canada cut their price objective on KB Home from $55.00 to $51.00 and set an “outperform” rating on the stock in a research note on Thursday, March 24th. Credit Suisse Group assumed coverage on KB Home in a report on Tuesday, April 5th. They set an “outperform” rating and a $42.00 target price for the company. Finally, Wolfe Research cut KB Home from a “market perform” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Friday, May 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, KB Home presently has a consensus rating of “Buy” and a consensus target price of $47.77.

Shares of NYSE KBH opened at $33.36 on Tuesday. The stock’s 50 day moving average price is $33.14 and its two-hundred day moving average price is $38.22. KB Home has a 52-week low of $30.13 and a 52-week high of $50.20. The stock has a market capitalization of $2.96 billion, a P/E ratio of 5.15, a PEG ratio of 0.34 and a beta of 1.59.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, May 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.80%. KB Home’s dividend payout ratio (DPR) is 9.26%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in shares of KB Home in the 1st quarter worth approximately $248,000. Quinn Opportunity Partners LLC bought a new stake in shares of KB Home in the 1st quarter worth approximately $1,417,000. Salem Investment Counselors Inc. increased its position in shares of KB Home by 2.9% in the first quarter. Salem Investment Counselors Inc. now owns 270,539 shares of the construction company’s stock worth $8,760,000 after acquiring an additional 7,627 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in shares of KB Home in the first quarter worth approximately $201,000. Finally, Guggenheim Capital LLC increased its position in shares of KB Home by 42.3% in the first quarter. Guggenheim Capital LLC now owns 16,875 shares of the construction company’s stock worth $546,000 after acquiring an additional 5,013 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

About KB Home (Get Rating)

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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