KB Home (NYSE:KBH) shares dropped 7.6% during mid-day trading on Thursday . The company traded as low as $26.63 and last traded at $26.85. Approximately 3,908,668 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 2,406,882 shares. The stock had previously closed at $29.05.
KBH has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 price target on shares of KB Home in a research report on Friday, December 22nd. Wedbush boosted their price target on shares of KB Home from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, December 29th. ValuEngine upgraded shares of KB Home from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Citigroup downgraded shares of KB Home from a “neutral” rating to a “sell” rating and set a $27.00 price target on the stock. in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded shares of KB Home from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research report on Tuesday, January 9th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.25.
The stock has a market cap of $2,329.56, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43.
KB Home (NYSE:KBH) last released its earnings results on Thursday, March 22nd. The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.11. KB Home had a net margin of 2.15% and a return on equity of 11.16%. The company had revenue of $871.60 million for the quarter, compared to the consensus estimate of $878.77 million. During the same quarter in the previous year, the company earned $0.15 EPS. KB Home’s quarterly revenue was up 6.5% compared to the same quarter last year. analysts forecast that KB Home will post 2.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 17th. Investors of record on Thursday, May 3rd will be given a dividend of $0.025 per share. The ex-dividend date is Wednesday, May 2nd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.38%. KB Home’s payout ratio is presently 5.41%.
In other KB Home news, CFO Jeff Kaminski sold 125,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.53, for a total transaction of $4,066,250.00. Following the transaction, the chief financial officer now owns 237,775 shares in the company, valued at $7,734,820.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Thomas F. Norton sold 47,179 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $30.32, for a total transaction of $1,430,467.28. Following the transaction, the senior vice president now owns 103,562 shares in the company, valued at approximately $3,139,999.84. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in KB Home by 83.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,284 shares of the construction company’s stock worth $137,000 after buying an additional 1,947 shares during the last quarter. Strs Ohio acquired a new position in KB Home during the fourth quarter worth $162,000. Suntrust Banks Inc. acquired a new position in KB Home during the fourth quarter worth $208,000. DAVENPORT & Co LLC acquired a new position in KB Home during the fourth quarter worth $244,000. Finally, Xact Kapitalforvaltning AB acquired a new position in KB Home during the fourth quarter worth $245,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.
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About KB Home
KB Home operates as a homebuilding company in the United States. It 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. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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