1.09%XLF 19.94 2.92%QQQQ 47.01 1.24%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
NEW YORK - KB Home shares continued to decline Monday after several analysts cut their earnings targets for the troubled homebuilder.
| KBH | 17.01 |  -0.56 |
KB dropped 79 cents to $16.93 Monday. The stock fell sharply Friday after the Los Angeles homebuilder reported a quarterly loss on large charges to write down the value of unsold inventory.
Wachovia analyst Carl Reichardt more than doubled his loss estimate for the company in 2008 to $9.10 per share from a previous forecast of $4.50 per share.
"KB's very weak margins appear to be the result of both soft pricing and what we believe is difficulty in controlling indirect and selling costs," he wrote in a note to investors.
JMP Securities analyst James Wilson said he cut his estimates because KB's impairment charges were larger than expected. He nearly doubled his loss estimate in 2008 to $9 from $4.70 per share.
KB took a $176.5 million charge in the latest quarter, which Wilson called "significant," although he noted it was less than a year ago and will likely continue to decline.
The Euro continued climbeding significantly yesterday against the US Dollar from Tuesday's bottom 1.4634 to today's top 1.4802, which a...
"Harry Potter" star Daniel Radcliffe has revealed he suffers from dysp...
Shares of some top computers companies were down at the close of trading: Apple Inc fell $1.86 or 1.1 percent, to $173.53.
|
Professional Website Design For Corporate - Get a Free Quote Today
Partners  
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
