Seaport Res Ptn Forecasts KB Home FY2024 Earnings

KB Home (NYSE:KBH) – Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for KB Home in a note issued to investors on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener forecasts that the construction company will post earnings per share of $8.42 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.

Several other brokerages have also recently issued reports on KBH. The Goldman Sachs Group lifted their target price on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Bank of America lifted their target price on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. 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. Finally, Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a report on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, KB Home presently has an average rating of “Hold” and a consensus target price of $77.50.

KB Home Trading Up 0.6 %

Shares of KBH stock opened at $80.39 on Wednesday. KB Home has a 12-month low of $50.08 and a 12-month high of $89.70. The stock’s 50-day moving average price is $82.16 and its 200-day moving average price is $76.47. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.68 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. KB Home’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 earnings per share.

Institutional Investors Weigh In On KB Home

Large investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. purchased a new stake in shares of KB Home during the third quarter valued at $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in KB Home in the third quarter valued at $43,000. Fidelis Capital Partners LLC purchased a new stake in KB Home in the first quarter valued at $60,000. Plato Investment Management Ltd boosted its holdings in KB Home by 72.0% in the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock valued at $77,000 after purchasing an additional 452 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its holdings in KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.52% of the company’s stock.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio (DPR) is presently 12.82%.

About KB Home

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.