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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.
KBH has a dismal post-earnings history, closing only two of its last eight next-day sessions higher. In fact, the stock moved lower after its last five reports. Options traders are bracing for a larger-than-usual post-earnings reaction, pricing in a next-day swing of 3.6%, compared to the stock's historical earnings move of 3.7% over the last eight quarters.
On the charts, KB Home stock has been rebounding since its May 19 two-year low of $44.02. The shares are still down 4.2% since the start of the year, however.
Short interest remains elevated ahead of the event, representing 12.16% of the stock's available float. At the stock's average pace of trading, it would take six days to buy back all 7.26 million shares sold short.
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