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Home builder KB Home ( KBH ) on Friday posted a larger-than-expected second quarter loss, as net orders plunged 23% due to the expiration of the federal homeowner tax credit.

The Los Angeles-based company reported a second quarter net loss of $30.7 million, or 40 cents per share, compared with a loss of $83.6 million, or $1.03 per share, in the year-ago period. Revenue fell 3% from last year, to $374.1 million.

On average, Wall Street analysts expected a smaller loss of 30 cents per share in the quarter, albeit on slightly lower revenue of $373 million.

KB Home shares fell 56 cents, or -4.6%, in premarket trading Friday.

The Bottom Line
We recently removed shares of KBH from our "recommended" list back on Sept.25, when the stock was trading at $18.54. The company has a dividend yield of 2.05%, based on last night's closing stock price of $12.22. The stock has technical support in the $8 price area. If the shares can firm up, we see overhead resistance around the $14 price level. We would remain on the sidelines for now.

KB Home ( KBH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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