Shares of KB Home (KBH) Continue to Fall; Homebuilder Stocks Down on Pending Home Sales Data
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Price: $55.52 +1.95%
Rating Summary:
4 Buy, 24 Hold, 7 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 24 Hold, 7 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of KB Home (NYSE: KBH) continue to fall, dropping another 5% in early trading. Shares were knocked down almost 10% last Friday after posting a wider-than-expected loss.
This morning, RBC Capital, said last week's earnings report was disappointing and the miss for orders lowered expectations across the board. Goldman cut FY13 EPS estimate from $0.20 to (0.52) and FY14 from $0.68 to $0.05.
Goldman Sachs is staying 'Neutral' on shares of KBH, but had the same 'disappointing' theme.
Wells Fargo maintained a 'Market Perform' rating, but analyst, Adam Rudiger, was a bit more positive.
Rudiger, said, "We believe new residential construction bottomed in 2011 and could see modest growth due in 2012 due to easy comparisons, lean new home inventory, pent-up household formations, an improving labor market, and attractive affordability. We rate KBH Market Perform because we see its week margins as an offset to its valuation as measured by normalized earnings or adjusted book value."
All of the major homebuilder stocks are down today on this morning's pending home sales data for February, which dropped 0.5% vs. economist estimate of a 1% rise.
To see more ratings on KBH, Click Here
This morning, RBC Capital, said last week's earnings report was disappointing and the miss for orders lowered expectations across the board. Goldman cut FY13 EPS estimate from $0.20 to (0.52) and FY14 from $0.68 to $0.05.
Goldman Sachs is staying 'Neutral' on shares of KBH, but had the same 'disappointing' theme.
Wells Fargo maintained a 'Market Perform' rating, but analyst, Adam Rudiger, was a bit more positive.
Rudiger, said, "We believe new residential construction bottomed in 2011 and could see modest growth due in 2012 due to easy comparisons, lean new home inventory, pent-up household formations, an improving labor market, and attractive affordability. We rate KBH Market Perform because we see its week margins as an offset to its valuation as measured by normalized earnings or adjusted book value."
All of the major homebuilder stocks are down today on this morning's pending home sales data for February, which dropped 0.5% vs. economist estimate of a 1% rise.
To see more ratings on KBH, Click Here
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