KB Home (NYSE:KBH) Reaches New 52-Week Low – What’s Next?

KB Home (NYSE:KBH)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $47.82 and last traded at $47.8640, with a volume of 705754 shares. The stock had previously closed at $49.52.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group reduced their price target on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Seaport Research Partners restated a “sell” rating and issued a $43.00 price target (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Citizens Jmp assumed coverage on shares of KB Home in a report on Tuesday, March 24th. They issued an “outperform” rating and a $77.00 price target for the company. Bank of America reduced their price target on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Finally, Truist Financial reduced their price target on shares of KB Home from $54.00 to $50.00 and set a “hold” rating for the company in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.17.

KB Home Price Performance

The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 8.74 and a beta of 1.42. The business’s fifty day moving average price is $54.03 and its 200-day moving average price is $58.73.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The business’s revenue was down 22.6% on a year-over-year basis. During the same period last year, the company earned $1.49 earnings per share. Equities research analysts predict that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is currently 25.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KBH. Freestone Grove Partners LP acquired a new position in shares of KB Home during the third quarter valued at about $111,050,000. Norges Bank acquired a new position in shares of KB Home during the fourth quarter valued at about $48,418,000. Donald Smith & CO. Inc. grew its holdings in shares of KB Home by 387.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock valued at $40,919,000 after buying an additional 576,694 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in KB Home by 102.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock worth $52,584,000 after purchasing an additional 471,598 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in KB Home by 519.2% during the fourth quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock worth $19,954,000 after purchasing an additional 296,615 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.