Zacks: Brokerages Expect KB Home (NYSE:KBH) Will Announce Quarterly Sales of $1.60 Billion

Equities research analysts forecast that KB Home (NYSE:KBH) will report sales of $1.60 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for KB Home’s earnings, with the lowest sales estimate coming in at $1.56 billion and the highest estimate coming in at $1.63 billion. KB Home reported sales of $1.35 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.5%. The firm is scheduled to announce its next earnings results on Wednesday, January 8th.

According to Zacks, analysts expect that KB Home will report full-year sales of $4.59 billion for the current fiscal year, with estimates ranging from $4.56 billion to $4.62 billion. For the next financial year, analysts anticipate that the company will report sales of $5.19 billion, with estimates ranging from $5.10 billion to $5.33 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for KB Home.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Wednesday, September 25th. The construction company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. KB Home had a net margin of 5.58% and a return on equity of 11.18%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share.

A number of brokerages recently commented on KBH. SunTrust Banks began coverage on shares of KB Home in a research note on Monday, August 12th. They set a “buy” rating and a $35.00 target price for the company. KeyCorp boosted their target price on shares of KB Home from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Buckingham Research boosted their target price on shares of KB Home from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wedbush reiterated a “neutral” rating and set a $32.00 target price (up previously from $25.00) on shares of KB Home in a research note on Thursday, September 26th. Finally, Zacks Investment Research downgraded shares of KB Home from a “strong-buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $32.78.

In related news, EVP Brian J. Woram sold 41,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $30.09, for a total value of $1,233,690.00. Following the completion of the sale, the executive vice president now directly owns 182,770 shares of the company’s stock, valued at $5,499,549.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brian J. Woram sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $31.07, for a total transaction of $1,242,800.00. Following the completion of the sale, the executive vice president now directly owns 181,770 shares of the company’s stock, valued at $5,647,593.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 470,643 shares of company stock valued at $16,120,743. 7.32% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in KBH. Strs Ohio purchased a new stake in shares of KB Home in the second quarter valued at about $25,000. Pearl River Capital LLC purchased a new stake in shares of KB Home in the second quarter valued at about $34,000. Advisory Services Network LLC raised its holdings in shares of KB Home by 37.5% in the second quarter. Advisory Services Network LLC now owns 1,650 shares of the construction company’s stock valued at $42,000 after buying an additional 450 shares during the last quarter. Certified Advisory Corp purchased a new stake in shares of KB Home in the second quarter valued at about $50,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of KB Home in the second quarter valued at about $55,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Shares of KBH stock traded up $0.18 on Friday, reaching $34.52. 833,707 shares of the stock were exchanged, compared to its average volume of 1,729,912. The company has a current ratio of 4.82, a quick ratio of 0.52 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average price is $34.95 and its 200 day moving average price is $29.63. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.31 and a beta of 1.27. KB Home has a twelve month low of $18.24 and a twelve month high of $37.40.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 7th were given a $0.09 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.04%. KB Home’s dividend payout ratio (DPR) is presently 12.77%.

About KB Home

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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