Core Viewpoint - KB Home reported strong Q2 fiscal 2024 earnings, with both earnings and revenues exceeding estimates, indicating resilience in a fluctuating housing market [2][3]. Earnings & Revenue Summary - Adjusted earnings per share were $2.15, surpassing the consensus estimate of $1.78 by 20.8% and increasing 11% year-over-year from $1.94 [3]. - Total revenues reached $1.71 billion, exceeding the consensus mark of $1.64 billion by 4.3%, but decreased 3.4% year-over-year [3]. Segment Performance - Homebuilding revenues were $1.7 billion, down 3.2% from the prior year, with 3,523 homes delivered, a decrease of 3.9% [4]. - The average selling price (ASP) increased by 0.7% year-over-year to $483,000 [4]. - Net orders rose 1.5% to 3,997 units, with the value of net orders increasing 6.8% to $2.03 billion, reflecting improved demand [4]. - The cancelation rate dropped to 13% from 22% in the previous year [4]. - The backlog totaled 6,270 homes, down 13.9% from the previous year, with potential housing revenues declining 9.8% to $3.12 billion [4]. Financial Position - Cash and cash equivalents were $643.5 million as of May 31, 2024, down from $727.1 million at the end of fiscal 2023 [6]. - Total liquidity stood at $1.73 billion, with a debt-to-capital ratio improving to 29.8% from 30.7% [6]. - The company repurchased approximately 0.76 million shares for $50 million in Q2 2024, with $950 million remaining under the repurchase authorization [6]. Fiscal 2024 Guidance - KB Home raised its housing revenue expectation to the range of $6.70-$6.90 billion, up from $6.50-$6.90 billion previously [7]. - The estimated ASP is now projected between $485,000 and $495,000, an increase from earlier estimates [7]. - The housing gross margin is expected to be between 21% and 21.5%, while the operating margin is projected to be in the range of 11% to 11.4% [7][8]. Market Position and Outlook - KB Home holds a Zacks Rank 1 (Strong Buy), indicating expectations for above-average returns in the coming months [11]. - The company has a subpar Growth Score of D but a better Momentum Score of C, with an aggregate VGM Score of C [10].

Have you been paying attention to shares of KB Home (KBH) ? Shares have been on the move with the stock up 11.3% over the past month. The stock hit a new 52-week high of $78.19 in the previous session. KB Home has gained 21.9% since the start of the year compared to the 10% move for the Zacks Construction sector and the 8.1% return for the Zacks Building Products - Home Builders industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't missed ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth po ...

After reaching an important support level, KB Home (KBH) could be a good stock pick from a technical perspective. KBH surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.Like other SMAs, if a s ...

Core Viewpoint - KB Home (KBH) has reached a significant support level and shows potential for investment based on technical analysis, with a recent bullish trend indicated by breaking through the 50-day moving average [1] Technical Analysis - KBH has experienced a price increase of 6.2% over the past four weeks, indicating positive momentum [1] - The 50-day simple moving average is highlighted as a critical indicator for establishing support and resistance levels, making it an important factor in assessing trends [1] Earnings Estimates - There have been 6 upward revisions in earnings estimates for KBH for the current fiscal year, with no downward revisions, reinforcing the bullish outlook [1] - The consensus earnings estimate has also increased, further supporting the positive sentiment around KBH [1][2]

For the transition period from [ ] to [ ]. Commission File No. 001-09195 KB HOME (Exact name of registrant as specified in its charter) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended May 31, 2024. or UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Delaware 95-3666267 (State of incorporation) (IRS employer iden ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, invest ...

photovs/iStock via Getty Images KB Home (NYSE:KBH) operates as a homebuilding company in the United States. We started coverage of the company in January 2023 with an initial neutral rating, which we have maintained since then. In this time frame, the firm's stock has performed exceptionally well, substantially outpacing the broader market. Analysis history (Author) In our previous article, we highlighted the firm's strong financial performance, while raising attention to the challenging housing market and ...

KB Home (KBH) benefits from its focus on the Build-to-Order approach, a strong pricing strategy and reduced cancellation rates, accompanied by land buyout initiatives.The company recently reported impressive results in second-quarter fiscal 2024 (ended May 31, 2024). Earnings and revenues beat the Zacks Consensus Estimate. The bottom line increased on a year-over-year basis amid a revenue decline. Despite the market experiencing volatility in the quarter due to increased mortgage rates, KBH observed a notab ...

Elevated mortgage rates are deterring many potential homebuyers, as rates remain around 7%. Homebuilders are not only dealing with high mortgage rates but also facing increased costs for construction and development loans. They are struggling with persistent labor shortages and a scarcity of buildable lots. These factors combined are dampening builder confidence, making it a challenging environment for the home building industry.Key TakeawaysBuilder confidence in newly built single-family homes declined by ...