Zacks reissued their neutral rating on shares of KB Home (NYSE:KBH) in a research report sent to investors on Monday morning, Analyst Ratings.Net reports. The firm currently has a $17.00 price target on the stock.
Zacks’ analyst wrote, “KB Home’s third-quarter fiscal 2013 earnings of 28 cents per share were a huge improvement over the year-ago adjusted loss of 10 cents. Earnings also beat the Zacks Consensus Estimate of 20 cents by 40% as price increases and margin improvements/cost discipline made up for the soft revenues and orders in the quarter. Revenues missed the estimate owing to weak net orders due to management s reduced focus on sales pace in lieu of margin improvement. The recent increases in mortgage rates and lack of overall economic recovery could also hurt demand in future quarters. Despite, the rising interest rates, KB Home expects further profitability in the future quarter on the back of strong land position, significant financial flexibility, rising ASPs, solid backlog position and SG&A leverage. However, KB Home’s needs to increase its volumes to boost long-term growth. We, therefore, have a Neutral recommendation on KB Home.”
KB Home (NYSE:KBH) traded up 0.82% during mid-day trading on Monday, hitting $15.98. 5,006,874 shares of the company’s stock traded hands. KB Home has a 52-week low of $13.09 and a 52-week high of $25.14. The stock has a 50-day moving average of $17.19 and a 200-day moving average of $18.94. The company has a market cap of $1.338 billion and a P/E ratio of 66.88.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.07. The company had revenue of $549.00 million for the quarter, compared to the consensus estimate of $569.30 million. During the same quarter last year, the company posted $0.04 earnings per share. KB Home’s revenue was up 29.3% compared to the same quarter last year. Analysts expect that KB Home will post $0.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.03 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Tuesday, November 5th.
A number of other analysts have also recently weighed in on KBH. Analysts at Thomson Reuters/Verus upgraded shares of KB Home from a sell rating to a hold rating in a research note to investors on Monday, November 4th. Finally, analysts at Raymond James downgraded shares of KB Home from a market perform rating to an underperform rating in a research note to investors on Thursday, October 17th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. KB Home currently has a consensus rating of Hold and an average target price of $19.52.
KB Home is a builder of single-family residential homes, townhomes and condominiums. It constructs and sells homes homes through its operating divisions under the name KB Home.
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