KB Home (NYSE:KBH) Sees Strong Trading Volume on Earnings Beat

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Shares of KB Home (NYSE:KBHGet Rating) saw strong trading volume on Thursday following a stronger than expected earnings report. 51,931 shares were traded during mid-day trading, a decline of 97% from the previous session’s volume of 1,819,310 shares.The stock last traded at $27.88 and had previously closed at $26.23.

The construction company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.35. KB Home had a return on equity of 20.40% and a net margin of 10.06%. During the same period in the prior year, the company posted $1.50 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Thursday, May 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Wednesday, May 4th. KB Home’s payout ratio is currently 9.26%.

Several equities analysts recently weighed in on the company. KeyCorp dropped their price objective on KB Home from $38.00 to $30.00 and set an “underweight” rating for the company in a research note on Tuesday, March 15th. The Goldman Sachs Group reduced their target price on KB Home from $55.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. TheStreet lowered KB Home from a “b-” rating to a “c+” rating in a research note on Friday, June 17th. UBS Group reduced their target price on KB Home from $66.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Finally, Barclays reduced their target price on KB Home from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, KB Home presently has an average rating of “Moderate Buy” and a consensus price target of $44.64.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in KB Home by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 7,970,899 shares of the construction company’s stock valued at $258,098,000 after purchasing an additional 108,191 shares in the last quarter. State Street Corp lifted its position in shares of KB Home by 5.4% during the first quarter. State Street Corp now owns 2,740,695 shares of the construction company’s stock worth $88,744,000 after purchasing an additional 139,643 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of KB Home by 125.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock worth $67,281,000 after purchasing an additional 1,156,233 shares during the last quarter. Balyasny Asset Management LLC lifted its position in shares of KB Home by 195.6% during the third quarter. Balyasny Asset Management LLC now owns 1,716,007 shares of the construction company’s stock worth $66,787,000 after purchasing an additional 1,135,484 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its holdings in KB Home by 1.0% in the first quarter. Copeland Capital Management LLC now owns 1,313,629 shares of the construction company’s stock worth $42,535,000 after acquiring an additional 13,373 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

The stock’s fifty day simple moving average is $32.18 and its 200-day simple moving average is $36.99. The stock has a market cap of $2.52 billion, a P/E ratio of 4.40, a PEG ratio of 1.30 and a beta of 1.59.

KB Home Company Profile (NYSE:KBH)

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.

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