KB Home (KBH) Trading 12.3% Higher on Earnings Beat

KB Home (NYSE:KBH) shares traded up 12.3% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $38.80 and last traded at $38.58. 13,242,714 shares traded hands during trading, an increase of 239% from the average session volume of 3,910,114 shares. The stock had previously closed at $34.35.

The construction company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of KB Home from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. Credit Suisse Group reiterated a “neutral” rating and issued a $31.00 target price (up previously from $25.00) on shares of KB Home in a research note on Thursday. Mizuho upgraded shares of KB Home from an “underperform” rating to a “neutral” rating and set a $21.00 target price for the company in a research note on Friday, September 29th. Wedbush cut shares of KB Home from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 19th. Finally, UBS Group assumed coverage on shares of KB Home in a research note on Wednesday, October 25th. They issued a “sell” rating and a $24.00 target price for the company. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.82.

A number of hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC raised its position in KB Home by 0.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 14,426 shares of the construction company’s stock worth $219,000 after purchasing an additional 94 shares during the last quarter. Amalgamated Bank raised its position in KB Home by 2.5% in the 2nd quarter. Amalgamated Bank now owns 11,945 shares of the construction company’s stock worth $286,000 after purchasing an additional 289 shares during the last quarter. Comerica Bank raised its position in KB Home by 0.6% in the 2nd quarter. Comerica Bank now owns 64,359 shares of the construction company’s stock worth $1,506,000 after purchasing an additional 396 shares during the last quarter. Victory Capital Management Inc. raised its position in KB Home by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 8,288 shares of the construction company’s stock worth $199,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in KB Home by 1.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 69,000 shares of the construction company’s stock worth $1,654,000 after purchasing an additional 1,319 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

The firm has a market cap of $3,300.00, a PE ratio of 27.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.69.

WARNING: “KB Home (KBH) Trading 12.3% Higher on Earnings Beat” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/01/11/kb-home-kbh-trading-12-3-higher-on-earnings-beat.html.

KB Home Company Profile

KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.

Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply