KB Home (NYSE:KBH – Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $44.03 and last traded at $44.7890, with a volume of 48035 shares traded. The stock had previously closed at $45.64.
Analyst Upgrades and Downgrades
KBH has been the subject of a number of research analyst reports. Seaport Research Partners reissued a “sell” rating and issued a $43.00 price target (down from $65.00) on shares of KB Home in a research report on Tuesday, April 7th. UBS Group reduced their price target on shares of KB Home from $71.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Barclays reduced their price target on shares of KB Home from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Weiss Ratings lowered shares of KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company reduced their price target on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.17.
Check Out Our Latest Research Report on KB Home
KB Home Stock Down 2.8%
KB Home (NYSE:KBH – Get Free Report) last issued its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. Analysts anticipate that KB Home will post 3.1 earnings per share for the current fiscal year.
KB Home Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is presently 25.38%.
Hedge Funds Weigh In On KB Home
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBH. Freestone Grove Partners LP acquired a new position in KB Home during the third quarter valued at approximately $111,050,000. Norges Bank acquired a new position in KB Home during the fourth quarter valued at approximately $48,418,000. Donald Smith & CO. Inc. grew its holdings in KB Home by 387.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock valued at $40,919,000 after purchasing an additional 576,694 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in KB Home by 102.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock valued at $52,584,000 after purchasing an additional 471,598 shares during the last quarter. Finally, Engineers Gate Manager LP grew its holdings in KB Home by 519.2% during the fourth quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock valued at $19,954,000 after purchasing an additional 296,615 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.
About KB Home
KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.
At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.
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