KB Home (NYSE:KBH) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

KB Home (NYSE:KBH) released its earnings results on Wednesday. The construction company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.77 by $0.14, RTT News reports. KB Home had a net margin of 9.47% and a return on equity of 17.97%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was up 40.3% compared to the same quarter last year.

Shares of NYSE KBH traded up $0.23 during mid-day trading on Wednesday, reaching $42.38. The company had a trading volume of 3,468,942 shares, compared to its average volume of 1,884,183. The stock’s 50-day moving average price is $42.88. The firm has a market cap of $3.71 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.14 and a beta of 1.76. KB Home has a 52 week low of $34.55 and a 52 week high of $52.48.

Several research firms have recently commented on KBH. Zelman & Associates raised shares of KB Home from a “hold” rating to a “buy” rating in a report on Monday, December 13th. Zacks Investment Research upgraded shares of KB Home from a “sell” rating to a “hold” rating and set a $43.00 price target on the stock in a research report on Tuesday, September 28th. Bank of America started coverage on shares of KB Home in a research report on Monday, November 8th. They issued a “neutral” rating on the stock. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of KB Home in a research report on Thursday, November 11th. Finally, Royal Bank of Canada upgraded shares of KB Home from a “sector perform” rating to an “outperform” rating and reduced their price target for the stock from $50.00 to $46.00 in a research report on Monday. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $52.00.

In related news, CEO Jeffrey T. Mezger sold 121,408 shares of the company’s stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $41.90, for a total value of $5,086,995.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Melissa Lora sold 24,393 shares of the company’s stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $40.83, for a total transaction of $995,966.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 387,254 shares of company stock worth $16,263,608. Company insiders own 4.40% of the company’s stock.

A hedge fund recently raised its stake in KB Home stock. Morgan Stanley raised its position in shares of KB Home (NYSE:KBH) by 254.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 548,339 shares of the construction company’s stock after buying an additional 393,836 shares during the quarter. Morgan Stanley owned about 0.60% of KB Home worth $22,328,000 at the end of the most recent reporting period. 90.11% of the stock is owned by institutional investors and hedge funds.

About KB Home

KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.

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Earnings History for KB Home (NYSE:KBH)

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