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KB Home (KBH) Unveils Two Communities in Patterson Ranch
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KB Home (KBH - Free Report) recently announced the opening of two new communities, North Grove and Laurel at Patterson Ranch, Fremont.
KB Home already has two communities in Patterson Ranch area, namely, Magnolia and Windrose. With the addition of Laurel and North Grove, KB Home now has four distinct styles of homes in the area.
Houses in these communities will be designed in an energy and water efficient way with KB Home-installed ENERGY STAR certification and WaterSense-labeled faucets and water fixtures. These features help owners reduce their monthly utility bills. Buyers can also personalize their homes at the KB Home Design Studio.
KB Home has been focusing on several strategic initiatives over the last few years to drive profit and revenues. One of its primary targets has been to increase community count.
The company regularly opens communities in highly favorable submarkets to drive growth. KB Home’s recently-opened communities include The Meadows in Castle Rock, The Villas at Sonoran Ridge, Westview Landing in Houston and Lotus in Orange County.
However, at the end of the last reported (first-quarter 2017), average community count was 238, down 2.5% year over year. The company anticipates second-quarter and fiscal 2017 average community count to be flat year over year. Nonetheless, these new communities are expected to drive community count in the quarters ahead.
The company actively invests in land acquisition and development, mainly in high-end locations, which is critical for community count as well as top-line growth. KB Home had put in $1.4 billion in land and development in fiscal 2016. It has already acquired land required for fiscal 2017, which is expected to generate a steady source of income in the days ahead. In the first quarter of fiscal 2017, the company invested $302 million in land, land development, and fees, with $133 million representing new land acquisitions.
Investors should note that KB Home’s shares gained 24.8% year to date, outperforming the Zacks categorized Building-Residential/Commercial industry’s 18% gain. A healthy housing industry and strong demand trends in the markets served by KB Home should drive the stock’s performance in the upcoming quarters as well.
Moreover, the company has an impressive earnings history, beating estimates in all of the past four quarters at an average of 7.3%. Earnings estimates, however, for this Zacks Rank #1 (Strong Buy) stock moved up 3.2% for the current year, over the last 60 days.
Upcoming Peer Releases
United Rentals, Inc (URI - Free Report) is slated to release its quarterly numbers on Apr 19, after market close.
PulteGroup Inc. (PHM - Free Report) is expected to release its quarterly numbers on Apr 25, before market opens.
D.R. Horton, Inc. (DHI - Free Report) is scheduled to release its quarterly numbers on Apr 20, before market opens.
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KB Home (KBH) Unveils Two Communities in Patterson Ranch
KB Home (KBH - Free Report) recently announced the opening of two new communities, North Grove and Laurel at Patterson Ranch, Fremont.
KB Home already has two communities in Patterson Ranch area, namely, Magnolia and Windrose. With the addition of Laurel and North Grove, KB Home now has four distinct styles of homes in the area.
Houses in these communities will be designed in an energy and water efficient way with KB Home-installed ENERGY STAR certification and WaterSense-labeled faucets and water fixtures. These features help owners reduce their monthly utility bills. Buyers can also personalize their homes at the KB Home Design Studio.
KB Home has been focusing on several strategic initiatives over the last few years to drive profit and revenues. One of its primary targets has been to increase community count.
The company regularly opens communities in highly favorable submarkets to drive growth. KB Home’s recently-opened communities include The Meadows in Castle Rock, The Villas at Sonoran Ridge, Westview Landing in Houston and Lotus in Orange County.
However, at the end of the last reported (first-quarter 2017), average community count was 238, down 2.5% year over year. The company anticipates second-quarter and fiscal 2017 average community count to be flat year over year. Nonetheless, these new communities are expected to drive community count in the quarters ahead.
The company actively invests in land acquisition and development, mainly in high-end locations, which is critical for community count as well as top-line growth. KB Home had put in $1.4 billion in land and development in fiscal 2016. It has already acquired land required for fiscal 2017, which is expected to generate a steady source of income in the days ahead. In the first quarter of fiscal 2017, the company invested $302 million in land, land development, and fees, with $133 million representing new land acquisitions.
Investors should note that KB Home’s shares gained 24.8% year to date, outperforming the Zacks categorized Building-Residential/Commercial industry’s 18% gain. A healthy housing industry and strong demand trends in the markets served by KB Home should drive the stock’s performance in the upcoming quarters as well.
Moreover, the company has an impressive earnings history, beating estimates in all of the past four quarters at an average of 7.3%. Earnings estimates, however, for this Zacks Rank #1 (Strong Buy) stock moved up 3.2% for the current year, over the last 60 days.
Upcoming Peer Releases
United Rentals, Inc (URI - Free Report) is slated to release its quarterly numbers on Apr 19, after market close.
PulteGroup Inc. (PHM - Free Report) is expected to release its quarterly numbers on Apr 25, before market opens.
D.R. Horton, Inc. (DHI - Free Report) is scheduled to release its quarterly numbers on Apr 20, before market opens.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>