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KB Home (NYSE:KBH) will report second-quarter earnings before the market opens on Tuesday, June 23.
According to Zacks Research, analysts expect profits of 45 cents per share on revenue of $1.09 billion.
KB Home has a weak post-earnings record, closing higher on only two of its last eight next-day sessions. The stock has also moved lower after its last five earnings reports.
Options traders are positioning for a larger-than-usual reaction, pricing in a next-day swing of 3.6%, compared with the stock’s historical earnings move of 3.7% over the last eight quarters.
KB Home shares have been rebounding since their May 19 two-year low of $44.02. Despite the rebound, the stock remains down 4.2% year to date.
Short interest remains elevated ahead of the event, at 12.16% of the stock’s available float. At the stock’s average trading pace, it would take six days to buy back all 7.26 million shares sold short.
