KB Home (NYSE:KBH) on Tuesday reported upbeat financial results for the third quarter.
KB Home reported third-quarter revenue of $1.297 billion, beating analyst estimates of $1.294 billion, according to Benzinga Pro. The company reported third-quarter earnings of $1.05 per share, beating estimates of 89 cents per share.
"We are operating in a housing market that continues to be challenging, with conditions weakening since our June earnings report. Higher mortgage interest rates have further pressured affordability and, together with geopolitical uncertainty and broader economic headwinds, have caused many prospective buyers to be more cautious on purchasing a home," said Jeffrey Mezger, executive chairman of KB Home.
KB Home expects $1.45 billion to $1.65 billion in housing revenue in the fourth quarter. The company also guided for full-year 2026 housing revenue of $4.90 billion to $5.10 billion.
KB Home shares fell 1.9% to trade at $47.71 on Wednesday.
These analysts made changes to their price targets on KB Home following earnings announcement.
- B of A Securities analyst Rafe Jadrosich maintained the stock with a Neutral and lowered the price target from $56 to $54.
- Citizens analyst James McCanless maintained the stock with a Market Outperform and cut the price target from $77 to $70.
- Barclays analyst Matthew Bouley maintained the stock with an Overweight rating and lowered the price target from $57 to $49.
- RBC Capital analyst Mike Dahl maintained the stock with a Sector Perform and lowered the price target from $53 to $50.
- Evercore ISI Group analyst Stephen Kim maintained the stock with an In-Line rating and cut the price target from $62 to $59.
Considering buying KBH stock? Here’s what analysts think:
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