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Tag: KBH Stock

  • KB Home (KBH) stock Down After Hours on Missed Fiscal 2022 Q1 Results

    KB Home (KBH) stock Down After Hours on Missed Fiscal 2022 Q1 Results

    On March 23, KB Home (KBH) declared its financial results for the first quarter of fiscal 2022, which ended on February 28, 2022. Consequently, the stock plunged further deep in the after-hours session.

    In the prior regular session, the stock traded in the red with a day range of $35.86 to $37.55. KBH suffered a loss of 4.66% at its closing price of $36.03 per share. The volume of the shares exchanged during the session remained above the average at 5.12 million. Following the announcement, KBH continued its downtrend into the after-hours. Thus, the stock declined by a further 4.33% or $1.56 in the after-hours session. At the close of the session, the stock had a value of $34.47 while 1.38 million shares were exchanged in the session.

    The homes building company, KB Home was founded in 1957 and is based in Los Angeles, CA. Currently, the company’s 88.27 million outstanding shares trade at a market capitalization of $3.34 billion. KBH presently stands on a year-to-date loss of 19.45% while it declined by 16.96% last year.

    KBH’s Q1 2022 Financials

    In Q1 2022, the company’s revenues increased by 23% YOY to $1.40 billion while homes delivered remained unchanged at 2,868.

    Moreover, the company had a net income of $134.3 million in the quarter with an increase of 38% YOY. Subsequently, the quarter’s diluted EPS increased by 44% YOY to $1.47.

    KBH ended the quarter with cash and cash equivalents of $831.4 million while totally liquidity was $1.07 billion.

    Additionally, the ending backlog was $5.71 billion, which marks an increase of 55% YOY.

    Source: iStock

    Fiscal 2022 Guidance

    Furthermore, the company also provided guidance for fiscal 2022 with housing revenues between $7.20 and $7.60 billion.

    The expected average selling price for fiscal 2022 is $490,000-$500,000 while the housing gross profit margin is expected to be 25.5%-26.3%.

    KBH’s Latest Company News

    On March 22, the company announced being named to Newsweek®’s 2022 list of America’s Most Trusted Companies. Presented by Newsweek and Statista Inc., this prestigious award is based on a huge sample of 50,000 U.S. residents’ survey. The study encompassed all stock exchanged-listed companies with a 2020 revenue of over $500 million.

    On March 11, KBH announced the grand opening of The Enclaves at Desert Oasis’s new-home community in Surprise, Arizona. On the same day, the company also announced the opening of the new-home community Butte Vista at Cobbles stone, in Plumas Lake, California.

  • KB Home (KBH) Gains Further After Hours Following Q3 and FY2021 Financial Results

    KB Home (KBH) Gains Further After Hours Following Q3 and FY2021 Financial Results

    Following the announcement of Q3 and full-year 2021 financial results, KB Home (KBH) stock gained a further 5.53% in the after-hours.

    During the regular session on Wednesday, KBH traded between a high of $43.04 and a low of $42.20. The stock closed the session at $42.38, with a small gain of 0.55% at 3.52 million shares exchanging. After the emergence of the news, the stock gained momentum to reach $44.68 in the after hours.

    The Los Angeles-based home builder and seller, KB Home has a market capitalization of $3.69 billion. Currently, the company has 87.48 million shares outstanding in the market.

    Q4 and FY2021 Financial Report

    On January 12, the company declared its financial results for the fourth quarter and full-year 2021, which ended on November 30.

    Fourth Quarter 2021

    In the fourth quarter of 2021:

    • KBH’s revenues were $1.68 billion, an increase of 40% year over year.
    • The number of homes delivered was 3,679, an increase of 28% year over year.
    • The average selling price was $451,100, a 9% year-over-year increase.
    • Total pretax income was $223.9 million, 78% year-over-year growth.
    • Net income grew 64% year over year to $174.2 million.
    • Net income per diluted share grew 71% year over year to $1.91.

    The full Year 2021

    For the full year 2021, KBH reported:

    • 37% year-over-year growth in revenues to $5.72 billion.
    • The number of homes delivered rose 26% year over year to 13,472.
    • The average selling price was $422,700, an increase of 9% year over year.
    • Total pre-tax income of $695.3 million with a growth of 91% year over year.
    • Net income was $564.7 million, a 91% year-over-year increase.
    • Net income per diluted share grew 92% year over year to $6.01.

    Fiscal 2022 Guidance

    In addition, the company also issued guidance for its fiscal 2022. According to the issued guidance, KBH expects:

    • Housing revenues between $7.20 billion and $7.60 billion.
    • Average selling price between $480,000 and $490,000.
    • Homebuilding operating income between 15.7% and 16.5% of revenues with no inventory-related charges assumption.
    • Increase of 20% to 25% in ending community count.
    • Return on equity in excess of 26%.

    KBH’s Recent Developments

    On January 07, the company announced the opening of a new single-family homes community in Seffner, Florida called Williams Pointe. Moreover, the price of homes starts from $350,000 in the new community.

    Previously, KBH had announced the inauguration of Autumn Creek in the Riverside County neighborhood of Winchester, California.

  • Is KBH Stock Set to Rise Today?

    At the last check, KB Home (KBH) was up 2.06% to $44.12 in premarket trading today. A share of KB Home stock rose nearly 0.42% to close the day at $43.23, up from $43.05 the previous day. The volume of KBH stock traded was 1.43 million, which is in line with the volume average for the past three months of 1.33 million.

    KBH stock fluctuated between $42.45 and $43.35 during the trading session. KBH stock increased despite a lack of current news, so current developments will help explain KBH’s rise.

    What has been happening at KBH lately?

    KB Home has been building quality homes for over 60 years and is one of the largest and most recognized homebuilders in the United States. Currently, KBH serves a variety of buyer groups in 45 markets from eight states. The unique thing about KBH is that it gives customers the ability to personalize their homes from the site to the floorplan, from the cabinets to the countertops, at a price that fits their budget. As the first builder who offers ENERGY STAR-certified homes, KBH is a pioneer in this field.

    KB A new single-family home community has recently been announced by KB Home in Menifee called Indigo at Shadow Mountain.

    • KBH’s new development features four unique one-story floor plans, each with their own unique design.
    • A dedicated home office is also available at Indigo at Shadow Mountain, which buyers can customize to fit their needs.
    • KBH offers exceptional choice and control to its customers, which sets it apart from other homebuilders.
    • Offering a wide variety of homes at an affordable price is the first step for KB Home.
    • In the building process, a buyer can choose the floor plan, exterior elevation, design options, and the location of the home.
    • Each step of the way, the team at KB Home works closely with the homeowner so they have a true partner.
    • The Environmental Protection Agency’s (EPA) indoor airPLUS standards guide the design of new KB homes to deliver an enhanced indoor environment.
    • KBH’s homes include high-performance ventilation systems, low- or zero-VOC products and other features.

    KBH’s marketing strategy:

    Visitors may tour the KB Home (KBH)’s Indigo at Shadow Mountain sales office and model homes by appointment with a sales associate, and they are also welcome to stop by without an appointment. KBH also made a sales counselor available to arrange a live video tour for homebuyers. Like its other communities, Indigo at Shadow Mountain by KB Home (KBH) offers home shoppers the option to create a home that fits their lifestyle and meets their individual needs.

  • 8 Best Stocks Look For in Residential Construction Sector

    Flipping is defined as the act of purchasing and selling a house within the same 12-month period. According to the report, the number of flips during the quarter dropped to 5.1% of all home sales, down from 6.7% during the second quarter of the year and from 5.5% during the third quarter of the year.

    Before the pandemic, home flipping profits were declining due to shrinking home price gains. There was a surge in home sales in May due to the pent-up demand from early spring when home sales nearly stalled cold. More people wanted larger homes in suburbs for school and work due to the stay-at-home culture created by the pandemic.

    As a result of record-low mortgage rates, many more people are coming into the market and have augmented the competition between the flippers. More than half (57%) of flippers use cash-only, but they cannot always outbid those with financing.

    D.R. Horton Inc. (NYSE:DHI) shares were trading up 3.22% at $73.47 at the time of writing on Thursday.

    D.R. Horton Inc. (NYSE:DHI) share price went from a low point around $25.51 to briefly over $81.21 in past 52 weeks, though shares have since pulled back to $73.47. DHI market cap has remained high, hitting $26.79B at the time of writing, giving it price-to-sales ratio of more than 1.

    If we look at the recent analyst rating DHI, UBS initiated coverage on DHI shares with a Buy rating and a $88.35 price target, which implies room for 14.88% upside momentum this year.

    KB Home (KBH) last closed at $35.60, in a 52-week range of $9.82 to $42.20. KB Home recently declared that Jeff Ferguson has been named as its Dallas/Fort Worth division president. Analysts have a consensus price target of $43.63.

    Lennar Corporation (LEN) stock soar by 7.62% to $79.95 after releasing results for its fourth quarter and fiscal year ended November 30, 2020. The most recent rating by UBS, on December 09, 2020, is at a Neutral.

    Meritage Homes Corporation (NYSE:MTH) Shares headed rising, higher as much as 3.93% following the announcement from the company that it has donated $750,000 in 2020 to non-profits across the country. The most recent rating by JP Morgan, on October 08, 2020, is at a Neutral.

    PulteGroup Inc. (NYSE:PHM) rose 5.36% after gaining more than $2.28 on Thursday. The company recently revealed Bob O’Shaughnessy, Executive Vice President and Chief Financial Officer, as the recipient of the 2020 CFO of the Year Award presented by CFO Roundtable of Atlanta.

    Taylor Morrison Home Corporation (TMHC) last closed at $26.81, in a 52-week range of $6.39 to $28.47. The company on December 8,2020 declared that its Board of Directors has authorized a renewal of its stock repurchase program until December 31, 2021. Analysts have a consensus price target of $31.88.

    Toll Brothers Inc. (TOL) stock soar by 1.74% to $46.12. The firm recently reported the closing of $160 million in construction financing through a newly formed joint venture between its Toll Brothers Apartment Living® rental subsidiary and GSLM Capital Partners. The most recent rating by UBS, on December 09, 2020, is at a Buy.

    TRI Pointe Group Inc. (NYSE:TPH) Shares headed rising, higher as much as 4.51%. The most recent rating by B. Riley Securities, on October 23, 2020, is at a Buy.