An issue of KB Home (NYSE:KBH) debt fell 0.7% against its face value during trading on Tuesday. The debt issue has a 7.5% coupon and is set to mature on September 15, 2022. The bonds in the issue are now trading at $108.75 and were trading at $108.38 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its stock price.
A number of analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $22.00 price target on shares of KB Home in a research report on Tuesday. Zacks Investment Research raised shares of KB Home from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Argus reissued a “hold” rating on shares of KB Home in a research report on Monday, July 18th. RBC Capital Markets reissued a “sector perform” rating and issued a $17.00 price target (up from $16.00) on shares of KB Home in a research report on Thursday, September 22nd. Finally, Buckingham Research lowered shares of KB Home from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.43.
Shares of KB Home (NYSE:KBH) opened at 15.93 on Wednesday. The stock has a 50 day moving average price of $15.65 and a 200-day moving average price of $14.95. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 13.79 and a beta of 1.99. KB Home has a 1-year low of $9.04 and a 1-year high of $16.76.
KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, September 20th. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The business had revenue of $913.30 million for the quarter. KB Home had a return on equity of 6.77% and a net margin of 3.31%. KB Home’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Equities research analysts forecast that KB Home will post $1.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.10 dividend on an annualized basis and a yield of 0.63%. KB Home’s dividend payout ratio is presently 8.62%.
In other news, insider Jeffrey T. Mezger sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $16.47, for a total transaction of $8,235,000.00. Following the completion of the transaction, the insider now owns 606,716 shares in the company, valued at $9,992,612.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey T. Mezger sold 230,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $16.43, for a total value of $3,778,900.00. Following the transaction, the chief executive officer now owns 606,716 shares of the company’s stock, valued at approximately $9,968,343.88. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of KB Home by 6.0% in the third quarter. Creative Planning now owns 9,409 shares of the company’s stock worth $152,000 after buying an additional 529 shares during the last quarter. Amalgamated Bank purchased a new position in shares of KB Home during the second quarter worth $161,000. Teacher Retirement System of Texas raised its position in shares of KB Home by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 10,689 shares of the company’s stock worth $163,000 after buying an additional 538 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of KB Home during the second quarter worth $166,000. Finally, Wedbush Securities Inc. purchased a new position in shares of KB Home during the second quarter worth $189,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.
KB Home Company Profile
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.