KB Home (KBH) Rises Higher Than Market: Key Facts
The latest trading session saw KB Home (KBH) ending at $63.07, denoting a +0.46% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.16%.
The the stock of homebuilder has risen by 20.38% in the past month, leading the Construction sector's gain of 14.08% and the S&P 500's gain of 4.89%.
Analysts and investors alike will be keeping a close eye on the performance of KB Home in its upcoming earnings disclosure. The company's earnings report is set to go public on January 10, 2024. The company's earnings per share (EPS) are projected to be $1.67, reflecting a 32.39% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.61 billion, down 17.11% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for KB Home. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.56% lower within the past month. KB Home is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, KB Home is holding a Forward P/E ratio of 8.7. This represents a discount compared to its industry's average Forward P/E of 10.31.
The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KBH in the coming trading sessions, be sure to utilize Zacks.com.
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KB Home (KBH) : Free Stock Analysis Report
