KB Home (
) reported that its backlog rose to a four-year high, helping to
return the homebuilder to profitability after consecutive quarterly
losses. The company reported quarterly net income of $3.3 million,
or 4 cents per share, compared to a loss of $9.6 million a year
earlier. Revenue for the quarter jumped 16% to nearly $425
Net orders rose 3% to about 1,900 homes in the third quarter,
while the company's potential future revenue in backlog jumped by
more than 30% to $744.7 million. "It is clear that the recovery in
housing is gaining momentum across the country as inventory levels
are declining and home prices are on the rise," KB Home Chief
Executive Jeffrey Mezger said.
KB Home is the nation's fifth largest homebuilder, and is known
for building eco-friendly or green homes. KBH closed Thursday at
$13.11, within 5% of its 52 week high and more than 100% above its
52 week low of $5.02.
Shares of KB Home are up 95% YTD, following years of slumping
The Bottom Line
Shares of KB Home (
) have a .76% dividend yield, based on last night's closing stock
price of $13.11. The stock has technical support in the $10-$11
price area. If the shares can firm up, we see overhead resistance
around the $15-$16 price levels.
KB Home (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 2.9 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
Created by Dividend.com