Seaport Res Ptn Comments on KB Home FY2024 Earnings

KB Home (NYSE:KBH - Free Report) - Equities researchers at Seaport Res Ptn issued their FY2024 earnings per share estimates for shares of KB Home in a report released on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener forecasts that the construction company will post earnings of $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 - Get Free Report) last released 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). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. KB Home's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.80 earnings per share.

Other analysts have also issued reports about the stock. Wells Fargo & Company lowered shares of KB Home from an "equal weight" rating to an "underweight" rating and boosted their target price for the company from $80.00 to $83.00 in a research report on Monday, October 7th. Evercore ISI lifted their price target on shares of KB Home from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 15th. The Goldman Sachs Group upped their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd. Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Finally, Barclays lifted their target price on KB Home from $78.00 to $99.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $77.50.

KB Home Stock Down 2.6 %

KBH traded down $2.12 during mid-day trading on Wednesday, reaching $79.90. 1,488,467 shares of the company traded hands, compared to its average volume of 1,025,541. The company's fifty day moving average price is $82.22 and its 200-day moving average price is $76.45. The stock has a market capitalization of $5.86 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.68 and a beta of 1.81. KB Home has a 52-week low of $50.08 and a 52-week high of $89.70.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.25%. KB Home's payout ratio is currently 12.82%.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the company's 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 completion of the sale, the chief financial officer now owns 34,473 shares of the company's stock, valued at approximately $2,737,156.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. American Century Companies Inc. increased its stake in KB Home by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company's stock valued at $118,244,000 after purchasing an additional 147,326 shares in the last quarter. LSV Asset Management increased its position in shares of KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company's stock valued at $74,138,000 after acquiring an additional 572,800 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in KB Home by 2.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company's stock worth $63,692,000 after acquiring an additional 18,981 shares during the last quarter. Bank of New York Mellon Corp lifted its position in KB Home by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company's stock worth $61,250,000 after acquiring an additional 3,993 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in KB Home by 10.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company's stock valued at $48,843,000 after purchasing an additional 67,628 shares during the last quarter. Institutional investors own 96.09% of the company's stock.

KB Home Company Profile

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.