JPMorgan Chase & Co. upgraded shares of KB Home (NYSE:KBH) from an underweight rating to a neutral rating in a research note released on Wednesday morning, Benzinga reports. They currently have $23.00 target price on the construction company’s stock, up from their previous target price of $20.50.
KBH has been the topic of a number of other research reports. Credit Suisse Group reaffirmed a sell rating and issued a $17.00 price target on shares of KB Home in a research note on Thursday, January 10th. Buckingham Research began coverage on shares of KB Home in a research report on Friday, January 11th. They issued a neutral rating on the stock. Zacks Investment Research lowered shares of KB Home from a hold rating to a strong sell rating in a research report on Monday, January 14th. Wedbush reissued a neutral rating and issued a $22.00 price objective on shares of KB Home in a research report on Thursday, March 21st. Finally, Barclays set a $20.00 price objective on shares of KB Home and gave the stock a hold rating in a research report on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $24.92.
Shares of KBH opened at $25.64 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 5.37. KB Home has a twelve month low of $16.82 and a twelve month high of $29.46. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 1.17 and a beta of 1.57.
KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, March 26th. The construction company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. KB Home had a net margin of 6.05% and a return on equity of 13.34%. The firm had revenue of $811.50 million for the quarter, compared to analyst estimates of $828.56 million. During the same quarter in the previous year, the firm posted $2.12 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis. Analysts anticipate that KB Home will post 2.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, May 1st. KB Home’s dividend payout ratio is presently 35.46%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ETF Managers Group LLC raised its position in KB Home by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 4,536 shares of the construction company’s stock worth $87,000 after acquiring an additional 618 shares in the last quarter. Financial Architects Inc raised its position in KB Home by 97.8% during the fourth quarter. Financial Architects Inc now owns 1,622 shares of the construction company’s stock worth $31,000 after acquiring an additional 802 shares in the last quarter. Comerica Bank raised its position in KB Home by 1.8% during the fourth quarter. Comerica Bank now owns 55,276 shares of the construction company’s stock worth $1,128,000 after acquiring an additional 961 shares in the last quarter. Arizona State Retirement System raised its position in KB Home by 1.8% during the fourth quarter. Arizona State Retirement System now owns 61,865 shares of the construction company’s stock worth $1,182,000 after acquiring an additional 1,104 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in KB Home by 1.1% during the fourth quarter. Retirement Systems of Alabama now owns 111,749 shares of the construction company’s stock worth $2,134,000 after acquiring an additional 1,162 shares in the last quarter. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.
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