KB Home (KBH) announced its most recent quarterly financial results on Tuesday, Sep-20-2016. KBH said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.39. The company posted revenue of $913.30 million in the period, compared to analysts expectations of $942.87 million. KBH’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.
Many Wall Street Analysts have commented on KB Home. Wedbush Initiated KB Home on Sep 20, 2016 to “Outperform”, Price Target of the shares are set at $22.KB Home was Upgraded by Buckingham Research to ” Buy” on Sep 19, 2016. KB Home was Downgraded by Buckingham Research to ” Neutral” on Jul 18, 2016.
KB Home closed down -0.31 points or -2.04% at $14.88 with 3,312,576 shares getting traded on Friday. Post opening the session at $15.08, the shares hit an intraday low of $14.82 and an intraday high of $15.13 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 27, 2016, Jeffrey T Mezger (President and CEO) sold 500,000 shares at $16.47 per share price. According to the SEC, 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).