KB Home (NYSE:KBH) – KeyCorp cut their Q3 2020 earnings per share (EPS) estimates for KB Home in a report issued on Wednesday, June 24th. KeyCorp analyst K. Zener now forecasts that the construction company will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.54. KeyCorp also issued estimates for KB Home’s FY2020 earnings at $2.45 EPS and FY2021 earnings at $2.50 EPS.
KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $913.97 million during the quarter, compared to analyst estimates of $1.08 billion. KB Home had a net margin of 6.43% and a return on equity of 12.82%. KB Home’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share.
A number of other analysts have also issued reports on the stock. Barclays reissued a “buy” rating on shares of KB Home in a research note on Sunday. Credit Suisse Group began coverage on shares of KB Home in a research note on Wednesday, May 27th. They set an “outperform” rating and a $36.00 target price for the company. Royal Bank of Canada lowered their target price on shares of KB Home from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. They noted that the move was a valuation call. TheStreet raised shares of KB Home from a “c+” rating to a “b-” rating in a research note on Wednesday, June 17th. Finally, Wells Fargo & Co upped their price objective on shares of KB Home from $24.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $33.72.
Shares of KBH opened at $29.96 on Monday. The firm has a market capitalization of $2.78 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.75 and a beta of 1.94. KB Home has a 12-month low of $9.82 and a 12-month high of $40.51. The firm has a fifty day moving average price of $31.49 and a 200-day moving average price of $30.35.
A number of institutional investors have recently made changes to their positions in KBH. First Mercantile Trust Co. bought a new position in KB Home in the first quarter worth about $26,000. Verus Capital Partners LLC bought a new position in KB Home in the first quarter worth about $27,000. Accurate Investment Solutions Inc. bought a new position in KB Home in the first quarter worth about $36,000. Eudaimonia Partners LLC bought a new position in KB Home in the first quarter worth about $42,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in KB Home by 286.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,683 shares of the construction company’s stock worth $49,000 after purchasing an additional 1,988 shares in the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.
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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