KB Home (NYSE:KBH) Issues Quarterly Earnings Results

KB Home (NYSE:KBH) issued its earnings results on Monday. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08, Briefing.com reports. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business earned $1.85 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis.

KB Home Stock Performance

KBH traded up $0.88 on Monday, reaching $64.07. The company had a trading volume of 2,531,616 shares, compared to its average volume of 1,256,301. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 0.57 and a beta of 1.86. The business has a 50 day simple moving average of $74.16 and a 200 day simple moving average of $78.05.

Analyst Upgrades and Downgrades

KBH has been the subject of several analyst reports. Barclays downgraded shares of KB Home from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $99.00 to $85.00 in a report on Wednesday, December 11th. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and decreased their price objective for the company from $70.00 to $67.00 in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, Wells Fargo & Company reduced their target price on KB Home from $74.00 to $65.00 and set an “underweight” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus target price of $79.25.

KB Home Company Profile

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.