KBR Beats Analysts’ Expectations in Latest Earnings Report
On May 1, 2023, construction company KBR (NYSE:KBR) released its latest quarterly earnings report, exceeding analysts’ expectations with earnings per share of $0.67 for the quarter. This came in $0.09 higher than the expected figure of $0.58 per share. The company’s revenue for the quarter was reported at $1.70 billion, a slight increase from analysts’ predictions of $1.61 billion.
KBR’s return on equity for the quarter was reported at 26.13%, while net margin stood at 5.30%. The slight drop in quarterly revenue compared to the same period last year is worth noting.
Director Lester L. Lyles sold 17,000 shares of KBR stock on March 9th with an average price of $54.81 per share, according to filings submitted to the Securities & Exchange Commission (SEC). Following this sale, Mr. Lyles now owns a total of 60,462 shares valued at approximately $3,313,922.22.
Other insider trading took place recently as well when EVP Jennifer Myles sold 4,714 shares on February 21st for a total value of $256,865.86.
NYSE KBR opened at $58.50 on May 17th and has a market capitalization of around $7.94 billion with a P/E ratio standing at 25.66 and a beta rating of 1.14.
Over the past fifty-two weeks KBR’s stock has traded within the range of $41.96 – $59.99 per share and currently holds a quick ratio and current ratio both at .99 and debt-to-equity ratio of .83.
KBR seems to be performing better than anticipated by analysts in their recent earnings report but it will be interesting to see how the company sustains and grows its revenue moving forward.
[bs_forecast_slider ticker=”KBR”]
KBR, Inc. faces lower EPS estimates for Q2 2023 despite positive ratings and growth potential in the construction sector
On Monday, May 15th, equities research analysts at Zacks Research reduced their earnings per share (EPS) estimates for KBR, Inc. (NYSE:KBR) for Q2 2023. Analyst S. Mukherjee predicts that the construction company’s EPS will now be $0.67 per share for the quarter, which is down from their prior forecast of $0.72.
This comes after several other reports were released providing insight into KBR’s future growth. A research report from StockNews.com recently upgraded KBR to a “buy” rating while Cowen gave the company an “outperform” rating in a February report and upped their target price from $56 to $63. DA Davidson also upped their target price on KBR from $60 to $70 in a February report, while Citigroup increased theirs from $60 to $67.
Despite the lowered EPS estimates, Bloomberg data shows that six analysts have rated KBR stock as “buy,” with a “consensus rating” of “Buy” and a consensus price target of $66.33.
Several large investors have added or reduced their stakes in KBR recently as well. Belpointe Asset Management LLC bought a new stake worth $34k during Q4 2022; Fred Alger Management LLC purchased shares worth $36k during Q3 2022; Quadrant Capital Group LLC grew its stake by 113.7% and now owns shares worth $40k in Q4 2023; Van ECK Associates Corp invested in KBR shares worth $48k in Q1 2023 and WFA of San Diego LLC bought shares worth $53k during Q4 2022.
Overall, despite some fluctuations, industry experts predict that there is potential for growth within the construction sector as global demands continue to rise; with this in mind, investors may find it wise to keep a close eye on KBR and other construction companies in the years to come.
