Brokers Set Expectations for KB Home FY2024 Earnings

KB Home (NYSE:KBH) – Equities researchers at Seaport Res Ptn issued their FY2024 EPS estimates for KB Home in a research note issued on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener anticipates that the construction company will earn $8.42 per share for the year. The consensus estimate for KB Home’s current full-year earnings is $8.44 per share. Seaport Res Ptn also issued estimates for KB Home’s Q4 2024 earnings at $2.44 EPS.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $1.80 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis.

A number of other research analysts also recently issued reports on the company. Barclays upped their price objective on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company downgraded shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $80.00 to $83.00 in a research report on Monday, October 7th. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a report on Thursday, September 5th. Evercore ISI increased their price objective on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group boosted their target price on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, KB Home currently has a consensus rating of “Hold” and an average price target of $77.50.

KB Home Trading Down 2.6 %

Shares of KBH opened at $79.90 on Wednesday. The stock has a 50 day moving average of $82.22 and a 200 day moving average of $76.45. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 0.68 and a beta of 1.81. KB Home has a 12 month low of $50.08 and a 12 month high of $89.70.

Hedge Funds Weigh In On KB Home

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of KB Home by 0.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock valued at $1,842,000 after buying an additional 161 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in KB Home by 0.9% during the second quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock worth $1,304,000 after purchasing an additional 162 shares during the last quarter. CWM LLC boosted its holdings in shares of KB Home by 10.2% in the 3rd quarter. CWM LLC now owns 1,975 shares of the construction company’s stock worth $169,000 after purchasing an additional 183 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of KB Home by 3.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock valued at $353,000 after purchasing an additional 189 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of KB Home by 1.6% during the 1st quarter. US Bancorp DE now owns 12,317 shares of the construction company’s stock valued at $873,000 after buying an additional 191 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.52% of the company’s stock.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 14th. KB Home’s dividend payout ratio is presently 12.82%.

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.