$1.09 Billion in Sales Expected for KB Home (NYSE:KBH) This Quarter

Wall Street analysts expect KB Home (NYSE:KBH) to post $1.09 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for KB Home’s earnings, with the highest sales estimate coming in at $1.12 billion and the lowest estimate coming in at $1.06 billion. KB Home posted sales of $1.16 billion in the same quarter last year, which suggests a negative year over year growth rate of 6%. The firm is scheduled to issue its next earnings report on Wednesday, September 23rd.

According to Zacks, analysts expect that KB Home will report full-year sales of $4.32 billion for the current financial year, with estimates ranging from $3.85 billion to $4.66 billion. For the next year, analysts anticipate that the company will post sales of $4.73 billion, with estimates ranging from $4.48 billion to $5.09 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover KB Home.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Wednesday, June 24th. The construction company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $913.97 million for the quarter, compared to the consensus estimate of $1.08 billion. KB Home had a net margin of 6.43% and a return on equity of 12.82%. The firm’s revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS.

Several research analysts have issued reports on KBH shares. Wells Fargo & Co increased their target price on shares of KB Home from $24.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada dropped their target price on shares of KB Home from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Thursday. They noted that the move was a valuation call. Credit Suisse Group started coverage on shares of KB Home in a report on Wednesday, May 27th. They set an “outperform” rating and a $36.00 target price on the stock. Susquehanna Bancshares cut shares of KB Home from a “positive” rating to a “neutral” rating and set a $24.00 target price on the stock. in a report on Monday, April 13th. Finally, TheStreet upgraded shares of KB Home from a “c+” rating to a “b-” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. KB Home presently has an average rating of “Hold” and a consensus price target of $33.72.

Several institutional investors have recently made changes to their positions in KBH. First Mercantile Trust Co. purchased a new position in KB Home during the 1st quarter worth approximately $26,000. Verus Capital Partners LLC purchased a new position in KB Home during the 1st quarter worth approximately $27,000. Accurate Investment Solutions Inc. purchased a new position in KB Home during the 1st quarter worth approximately $36,000. Eudaimonia Partners LLC purchased a new position in KB Home during the 1st quarter worth approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in KB Home by 286.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,683 shares of the construction company’s stock worth $49,000 after buying an additional 1,988 shares during the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

KB Home stock traded down $0.80 during midday trading on Monday, hitting $28.58. 4,247,100 shares of the company’s stock were exchanged, compared to its average volume of 2,588,021. KB Home has a 12 month low of $9.82 and a 12 month high of $40.51. The firm has a 50-day moving average of $31.49 and a two-hundred day moving average of $30.38. The company has a market cap of $2.59 billion, a PE ratio of 8.88, a P/E/G ratio of 1.75 and a beta of 1.94.

About KB Home

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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Earnings History and Estimates for KB Home (NYSE:KBH)

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