KBH - KB Home's Surging Demand Sparks Optimism Analyst Elevates Forecast Amid Sales And Marketing Boost | Benzinga
Several analysts raised the price target of KB Home (NYSE:KBH) following the first-quarter FY24 results reported yesterday.
The company beat analyst estimates on the top and bottom lines, with revenue of $1.47 billion, beating the consensus of $1.46 billion, and EPS of $1.76, exceeding the estimates of $1.57.
KB Home sees FY24 housing revenues in the range of $6.5 billion to $6.9 billion and average selling prices are expected to settle between $480,000 and $490,000.
RBC Capital raised the price target to $69 from $63, reaffirming the Sector Perform rating.
The analyst Mike Dahl increased the FY24 EPS estimate by +6% to $7.66, driven by the first-quarter beat and stronger FY deliveries.
Dahl raised EPS estimates to $7.66 (from $7.20) for FY24 and $7.78 (from ...