Kennedy-Wilson (NYSE:KW) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

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Kennedy-Wilson (NYSE:KW) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08, Briefing.com reports. Kennedy-Wilson had a return on equity of 13.24% and a net margin of 13.61%. The firm had revenue of $143.70 million during the quarter, compared to analysts’ expectations of $160.05 million. During the same period last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was down 34.0% compared to the same quarter last year.

KW traded down $0.04 during trading on Friday, hitting $22.37. The company’s stock had a trading volume of 386,329 shares, compared to its average volume of 282,018. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 4.19. Kennedy-Wilson has a twelve month low of $17.25 and a twelve month high of $22.63. The business’s fifty day moving average price is $20.91. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 16.55 and a beta of 1.16.

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.76%. The ex-dividend date was Thursday, June 27th.

In other Kennedy-Wilson news, General Counsel Kent Y. Mouton sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $20.56, for a total value of $616,800.00. Following the sale, the general counsel now directly owns 474,956 shares of the company’s stock, valued at $9,765,095.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 14.70% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on KW. Evercore ISI began coverage on Kennedy-Wilson in a research note on Thursday, April 18th. They issued an “outperform” rating and a $21.52 price objective for the company. ValuEngine upgraded Kennedy-Wilson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Kennedy-Wilson currently has an average rating of “Buy” and an average price target of $26.13.

About Kennedy-Wilson

Kennedy-Wilson Holdings, Inc is a global real estate investment company, which engages in the ownership, operation, and investment in real estate through its investment platform. It operates through the following business segments: KW Investments, and KW Investment Management and Real Estate Services (IMRES).

Further Reading: What is Green Investing?

Earnings History for Kennedy-Wilson (NYSE:KW)

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