Kennedy-Wilson (NYSE:KW) Upgraded by JMP Securities to “Outperform”

Kennedy-Wilson (NYSE:KW) was upgraded by research analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a report released on Friday, March 9th, Marketbeat.com reports. The firm currently has a $22.00 price objective on the financial services provider’s stock. JMP Securities’ target price indicates a potential upside of 25.71% from the company’s current price.

Separately, ValuEngine cut Kennedy-Wilson from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.

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Shares of KW stock traded up $0.10 during trading on Friday, hitting $17.50. The company had a trading volume of 1,269,280 shares, compared to its average volume of 1,138,385. Kennedy-Wilson has a 52 week low of $15.95 and a 52 week high of $22.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 3.59. The stock has a market cap of $2,627.93, a price-to-earnings ratio of 38.89 and a beta of 1.28.

Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Kennedy-Wilson had a net margin of 12.40% and a return on equity of 4.01%. The business had revenue of $181.50 million for the quarter, compared to analysts’ expectations of $181.56 million. sell-side analysts forecast that Kennedy-Wilson will post -0.17 EPS for the current fiscal year.

Kennedy-Wilson declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 20th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In other Kennedy-Wilson news, CEO Mary Ricks sold 57,875 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $16.87, for a total value of $976,351.25. Following the completion of the sale, the chief executive officer now directly owns 1,732,608 shares in the company, valued at $29,229,096.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Justin Enbody sold 17,290 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $16.87, for a total value of $291,682.30. Following the completion of the sale, the chief financial officer now owns 300,116 shares of the company’s stock, valued at $5,062,956.92. The disclosure for this sale can be found here. Insiders sold a total of 231,950 shares of company stock worth $3,912,997 in the last ninety days. 17.07% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of KW. SG Americas Securities LLC purchased a new position in shares of Kennedy-Wilson in the third quarter valued at approximately $129,000. Ellington Management Group LLC purchased a new position in Kennedy-Wilson during the fourth quarter worth approximately $180,000. Wayne Hummer Investments L.L.C. purchased a new position in Kennedy-Wilson during the fourth quarter worth approximately $187,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Kennedy-Wilson by 160.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,952 shares of the financial services provider’s stock worth $190,000 after buying an additional 6,740 shares in the last quarter. Finally, ING Groep NV purchased a new position in Kennedy-Wilson during the fourth quarter worth approximately $201,000. Institutional investors own 84.61% of the company’s stock.

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Kennedy-Wilson Company Profile

Kennedy-Wilson Holdings, Inc operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.

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