KeyCorp Cuts KBR (NYSE:KBR) Price Target to $59.00

KBR (NYSE:KBR) had its price target reduced by KeyCorp from $67.00 to $59.00 in a report issued on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Several other brokerages also recently weighed in on KBR. Truist Financial dropped their target price on KBR from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Citigroup cut their price objective on shares of KBR from $82.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. TD Cowen decreased their target price on KBR from $72.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered their price target on KBR from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, KBR has an average rating of “Moderate Buy” and an average price target of $71.13.

KBR Price Performance

Shares of KBR stock opened at $50.47 on Wednesday. The firm has a market capitalization of $6.55 billion, a P/E ratio of 21.20, a P/E/G ratio of 0.86 and a beta of 0.73. KBR has a 52-week low of $43.89 and a 52-week high of $72.60. The stock has a 50 day moving average price of $50.27 and a 200 day moving average price of $57.63. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.07 and a current ratio of 1.07.

KBR (NYSE:KBR) last issued its earnings results on Monday, February 24th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2 billion. KBR had a net margin of 4.35% and a return on equity of 28.87%. As a group, sell-side analysts predict that KBR will post 3.26 earnings per share for the current year.

KBR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from KBR’s previous quarterly dividend of $0.15. KBR’s dividend payout ratio (DPR) is 23.57%.

Insider Buying and Selling

In related news, insider Gregory Sean Conlon sold 19,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $50.59, for a total transaction of $961,210.00. Following the completion of the transaction, the insider now owns 63,533 shares in the company, valued at approximately $3,214,134.47. The trade was a 23.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KBR. Sowell Financial Services LLC purchased a new stake in KBR in the first quarter valued at approximately $518,000. Janney Montgomery Scott LLC lifted its stake in shares of KBR by 476.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,858 shares of the construction company’s stock worth $3,280,000 after acquiring an additional 54,429 shares during the period. Fifth Third Bancorp increased its stake in shares of KBR by 25.2% during the first quarter. Fifth Third Bancorp now owns 1,365 shares of the construction company’s stock worth $68,000 after acquiring an additional 275 shares during the period. GAMMA Investing LLC boosted its holdings in KBR by 295.5% in the 1st quarter. GAMMA Investing LLC now owns 795 shares of the construction company’s stock valued at $40,000 after purchasing an additional 594 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of KBR during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 97.02% of the company’s stock.

KBR Company Profile

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.