KB Home (KBH) reported quarterly earnings results on Tuesday, Jun-21-2016. The company said it had a profit of $0.17 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.16. The company posted revenue of $811.10 million in the period, compared to analysts expectations of $750.43 million. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Many Wall Street Analysts have commented on KB Home. Shares were Downgraded by UBS on May 4, 2016 to ” Sell” and Lowered the Price Target to $ 11 from a previous price target of $13 .KB Home was Downgraded by FBN Securities to ” Sector Perform” on Apr 18, 2016. Company shares were Reiterated by Deutsche Bank on Apr 4, 2016 to “Hold”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .
KB Home opened for trading at $14.48 and hit $14.75 on the upside on Monday, eventually ending the session at $14.49, with a gain of 1.54% or 0.22 points. The heightened volatility saw the trading volume jump to 27,48,758 shares. Company has a market cap of $1,219 M.
In a different news, on Apr 28, 2015, Nicholas S Franklin (EVP, Strategic Operations) purchased 5,000 shares at $14.76 per share price.
KB Home is a homebuilding company that constructs and sells homes through its operating divisions under the name KB Home. The Company operates through five operating segments which includes four homebuilding segments and one financial services segment. The Company’s homebuilding operations are organized into four segments: West Coast Southwest Central and Southeast. The Company delivered approximately 7215 homes through its four homebuilding segments. The Company’s financial services segment offers property and casualty insurance and in certain instances earthquake flood and personal property insurance to its homebuyers. The Company also provides title services in the majority of its markets located within Central and Southeast homebuilding reporting segments. This segment also offers mortgage banking services including residential consumer mortgage loan originations to its homebuyers indirectly through Home Community Mortgage LLC (HCM).