KB
Home is a homebuilding company. The Company constructs and sells homes through
its operating divisions under the name KB Home. The Company operates in nine
states and 32 markets, including California, Arizona, Nevada, Colorado, Texas,
Florida, Maryland, North Carolina and Virginia. The Company organizes its
homebuilding operations into four segments: West Coast, Southwest, Central and
Southeast. In July 2012, it acquired land within the Elworthy Ranch property in
the town of Danville. In September 2012, it acquired Mason Ranch, which is a
330-acre land asset in Cedar Park/Leander West, submarkets in metropolitan
Austin. KB Home Common St (NYSE:KBH) is +2.15 - +16.40% from the previous close
of $13.11. It traded between $13.25 - 15.65 with total traded volume of
33219164 shares. At Current Market Price, KBH is in distance
of +34.25% from its 50-day Moving Average price of $11.3671 and +59.94% from
its 200-day Moving Average price of $9.5413.
KB Home, the house building company, posted an unexpected
quarterly profit on Friday and said its backlog of revenue from houses under
construction rose to its highest level since the peak of the financial crisis.
KB Home earned $3.3 million, or 4 cents a share, on sales of $425 million, in
the third quarter. Analysts on average expected a loss of 16 cents a share,
according to Thomson Reuters. A year earlier, KB Home lost $9.6 million, or $13
cents a share, on sales of $367 million. The company said potential future
housing revenue in its backlog as of Aug. 31 rose 33 percent, to $744.7
million. Net orders at KB Home increased 3 percent for the second consecutive
quarter, to 1,900 homes in the three months ended in August, and rose 16
percent in value to $493.3 million. Stock in KB Home, which is based in Los
Angeles, rose $2.15, or 16 percent, to $15.26 a share. The company's shares
rose as much as 14 percent to a 19-month high on the New York Stock Exchange on
Friday afternoon. The stock was one of the top percentage gainers on the
exchange.
The housing market recovery, which has been patchy, is likely to
get a boost with mortgage rates falling to record lows in the wake of the
Federal Reserve's decision to bolster the economy by buying housing-related
debt.
