Compass Point Reiterates a 'Sell' on KB Home (KBH); Making Aggressive Moves, But Profitability Still Out of Grasp
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Price: $23.11 -1.24%
Rating Summary:
7 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
7 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade KBH Now!
Compass Point reiterates a 'Sell' on KB Home (NYSE: KBH) price target of $8.00 (from $6.50).
Analyst, Wilkes Graham, said, KBH's Q2 loss (0.31) topped estimates (0.38) on higher average home prices ($233K) which pushed revenue growth and cut non-recurring items. Graham feels the recent strategy of aggressive growth by KBH in the current market environment is positive, as the company continues using cash on hand to make land acquisitions and development and pay impending debt maturities. However, with the lack of continued profitability, the firm remains at a Sell.
Graham raises FY12 EPS from (1.19) to (1.08). FY13 maintained at $0.01.
For an analyst ratings summary and ratings history on KB Home click here. For more ratings news on KB Home click here.
Shares of KB Home closed at $9.81 yesterday, with a 52 week range of $5.02-$13.12.
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Analyst, Wilkes Graham, said, KBH's Q2 loss (0.31) topped estimates (0.38) on higher average home prices ($233K) which pushed revenue growth and cut non-recurring items. Graham feels the recent strategy of aggressive growth by KBH in the current market environment is positive, as the company continues using cash on hand to make land acquisitions and development and pay impending debt maturities. However, with the lack of continued profitability, the firm remains at a Sell.
Graham raises FY12 EPS from (1.19) to (1.08). FY13 maintained at $0.01.
For an analyst ratings summary and ratings history on KB Home click here. For more ratings news on KB Home click here.
Shares of KB Home closed at $9.81 yesterday, with a 52 week range of $5.02-$13.12.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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