KB Home (KBH) Trading 12.3% Higher Following Earnings Beat

KB Home (NYSE:KBH) traded up 12.3% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $38.80 and last traded at $38.58. 13,242,714 shares changed hands during mid-day trading, an increase of 239% from the average session volume of 3,910,114 shares. The stock had previously closed at $34.35.

The construction company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.07. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis.

Several equities research analysts have commented on the stock. Buckingham Research downgraded shares of KB Home from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a research note on Friday. Credit Suisse Group reaffirmed a “neutral” rating and issued a $31.00 target price (up previously from $25.00) on shares of KB Home in a research note on Thursday. Zacks Investment Research raised shares of KB Home from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Tuesday. Citigroup downgraded shares of KB Home from a “neutral” rating to a “sell” rating and set a $27.00 target price for the company. in a research note on Tuesday, January 2nd. Finally, ValuEngine raised shares of KB Home from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Seven equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.25.

Several hedge funds have recently modified their holdings of KBH. Northwestern Mutual Investment Management Company LLC boosted its holdings in KB Home by 0.7% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,426 shares of the construction company’s stock worth $219,000 after purchasing an additional 94 shares during the last quarter. Amalgamated Bank boosted its holdings in KB Home by 2.5% during the second quarter. Amalgamated Bank now owns 11,945 shares of the construction company’s stock worth $286,000 after purchasing an additional 289 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in KB Home by 17.6% during the second quarter. Victory Capital Management Inc. now owns 8,288 shares of the construction company’s stock worth $199,000 after purchasing an additional 1,241 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in KB Home by 1.9% during the second quarter. Mutual of America Capital Management LLC now owns 69,000 shares of the construction company’s stock worth $1,654,000 after purchasing an additional 1,319 shares during the last quarter. Finally, Stevens First Principles Investment Advisors boosted its holdings in KB Home by 24.4% during the third quarter. Stevens First Principles Investment Advisors now owns 9,880 shares of the construction company’s stock worth $238,000 after purchasing an additional 1,940 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

The company has a market cap of $3,200.00, a price-to-earnings ratio of 26.60, a P/E/G ratio of 0.77 and a beta of 1.69.

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KB Home Company Profile

KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.

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