Royal Bank of Canada Issues Pessimistic Forecast for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price target decreased by Royal Bank of Canada from $67.00 to $63.00 in a research note released on Tuesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

A number of other research analysts also recently issued reports on KBH. Evercore ISI upped their price objective on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Barclays reduced their price target on shares of KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their price objective on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a research report on Tuesday. Wedbush reiterated a “neutral” rating and issued a $75.00 target price on shares of KB Home in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.13.

KB Home Trading Down 5.2 %

Shares of KBH stock opened at $58.56 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 0.90 and a beta of 1.89. KB Home has a 52-week low of $56.41 and a 52-week high of $89.70. The company has a 50-day simple moving average of $63.99 and a two-hundred day simple moving average of $72.81.

KB Home (NYSE:KBH) last announced its earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. KB Home’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.76 EPS. Research analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. KB Home’s dividend payout ratio is 11.81%.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,370,708.21. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.89% of the company’s stock.

Institutional Investors Weigh In On KB Home

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. Principal Securities Inc. boosted its holdings in KB Home by 43.6% in the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after purchasing an additional 179 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of KB Home during the 3rd quarter valued at $59,000. Versant Capital Management Inc increased its holdings in shares of KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after purchasing an additional 557 shares during the period. Finally, Amundi raised its position in shares of KB Home by 29.6% in the fourth quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after buying an additional 201 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

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.