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Tag: KBH

  • 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.

  • Early Morning Vibes: Check Out These 4 hot Stocks Right Now

    On January 11, American stock markets closed in the red. The S & P500 index fell 0.66% to 3800 points, the Dow Jones lost 0.29%, the NASDAQ fell 1.25%. There were no new drivers for the movement, the correction was due to the fixation of positions after reaching historic highs the day before. The finance sector looked stronger than the broader market, climbing 0.43%. Investors are awaiting the release of positive quarterly reports from a number of major banks later this week.

    Corporate News

    Twitter (TWTR: -6.4%) permanently blocked Donald Trump’s account. Almost half of the active audience of the social network was subscribed to it.

    Pharmaceutical giant Ely Lilly (LLY: + 11.7%) has published positive results from a Phase II trial of an Alzheimer’s slowing drug.

    Electric car manufacturer NIO (NIO: + 6.4%) unveiled the new ET7 sedan and batteries. In addition, the company announced a collaboration with Nvidia (NVDA: + 2.6%) to develop autonomous driving technology.

    Today, global stock markets are showing mixed dynamics. The main topic of discussion remains the draft stimulus package that Joe Biden will present this Thursday. The volume of the program will exceed $ 1 trillion and may reach $ 2-3 trillion. Hope for its adoption determines the relative stability of the broad market index. Further dynamics of investor sentiment will depend on the details of Biden’s plan. There is no doubt that the President-elect will try to make the program comprehensive in order to meet the expectations of the electorate. Large-scale stimulation of the economy was the main point of Biden’s election program. Nevertheless, investors’ expectations are already quite high. The S&P 500 is at historic highs. Talk of excessive investor optimism is increasingly broadcast in the business media.

    Today there will be speeches by several representatives of the FRS, who can clarify the plan for changing the parameters of the quantitative easing program. The Fed’s inflation and unemployment expectations are also receiving increased attention, as they have a direct impact on Treasury yields.

    Sentiment Index

    The Freedom Finance Sentiment Index climbed to 60 out of 100. The index reflects market participants’ hope for a global economic recovery in 2021. Worries about the negative impact of the coronavirus pandemic continue to decline thanks to the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is showing a strong uptrend, but the risk of a correction is increasing. The broad market index tested the upper border of the equidistant channel in the 3825-3830 area yesterday, where it encountered strong resistance. The RSI indicator remains close to the overbought zone, which limits the upside potential from current levels. If a corrective movement develops, the first significant target will be the level of 3700 points.

    Today Top Movers

    Naked Brand Group Ltd (NAKD), an apparel manufacturing company, soared about 7.71% ‎at $0.44 in pre-market trading Tuesday.

    ‎US Well Services Inc (USWS) share price gained 75.02% to $0.91during early morning ‎trading session on Tuesday after declaring that it has finalized an extension of its contract to provide electric hydraulic fracturing services for Range Resources in the Appalachian Basin.

    ‎T2 Biosystms Inc (TTOO) stock ascended 43.12% at $2.29 in the pre-market trading today following the announcement from the company that its T2SARS-CoV-2™ Panel is capable of detecting the multiple variants of the SARS-CoV-2 virus most recently identified in the United Kingdom, South Africa, and the United States.‎

    ‎Lion Group Holding Ltd (LGHL) surged over 19.05% at $4.75 in pre-market ‎trading on Tuesday after the company revealed that Mr. Guandong Wang has been appointed as a director of the Board of Directors on January 6, 2021.‎

    Top Upgrades & Downgrades

    Citigroup turned bullish on NOV Inc. (NOV), upgrading the stock to “Buy” and assigning a $18.0 price target, representing potential upside of 17.23% from Monday’s close.

    Commvault Systems Inc. (CVLT) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $68.0, suggesting 20.5% additional upside for the stock.

    Oshkosh Corporation (OSK) received an upgrade from analysts at Credit Suisse, who also set their one-year price target on the stock to $117.0. They changed their rating on OSK to Outperform from Neutral in a recently issued research note.

    Earlier Tuesday KeyBanc reduced its rating on WEC Energy Group Inc. (WEC) stock to Sector Weight from Overweight.

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Schnitzer Steel Industries Inc. (SCHN) has been changed to Sector Weight from Overweight.

    Analysts at KeyBanc downgraded American Electric Power Company Inc. (AEP)’s stock to Sector Weight from Overweight Tuesday.

    Latest Insider Activity

    Marathon Patent Group Inc. (MARA) Chief Executive Officer OKAMOTO MERRICK D announced the sale of shares taking place on Jan 07 at $20.51 for some 632,000 shares. The total came to more than $12.96 million.

    Moderna Inc. (MRNA) Chief Executive Officer Bancel Stephane sold on Jan 08 a total 220,936 shares at $114.02 on average. The insider’s sale generated proceeds of almost $1.26 million.

    PBF Energy Inc. (PBF) Add’l Rep. Persons-see Ex.99-1 Control Empresarial de Capital declared the purchase of shares taking place on Dec 28 at $6.87 for some 40,000 shares. The transaction amount was around $0.27 million.

    Party City Holdco Inc. (PRTY) 10% Owner SOSIN CLIFFORD bought on Jan 05 a total 15,986,623 shares at $6.63 on average. The purchase cost the insider an estimated $2.1 million.

    Important Earnings

    Top US earnings releases scheduled for today include KB Home (NYSE:KBH). It will announce its Nov 2020 financial results. The company is expected to report earnings of $0.93 per share from revenues of $1.14B in the three-month period.

    Analysts expect BGC Partners Inc. (NASDAQ:BGCP) to report a net income (adjusted) of $0.11 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $460.45M.

    EXFO Inc. (EXFO), due to announce earnings after the market closes today, is expected to report earnings of $0.03 per share from revenues of $70.89M recently concluded three-month period.