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Fly News Breaks for September 22, 2017
KBH
Sep 22, 2017 | 07:24 EDT
Wedbush analyst Jay McCanless says he expects KB Home to report Q3 earnings per share of 50c, above the consensus estimate of 46c. Since Hurricane Harvey struck near the end of the company's Q3 and Hurricane Irma struck after the quarter ended, most of KB's closings and orders in the affected areas occurred before the storms hit, McCanless tells investors in a pre-earnings research note. The analyst is comfortable being above consensus for Q3 but thinks his forward earnings estimates may be at risk from storm-related issues. He reiterates an Outperform rating on KB Home with a $26 price target.
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