The Goldman Sachs Group Cuts KBR (NYSE:KBR) Price Target to $64.00

KBR (NYSE:KBR) had its price target reduced by The Goldman Sachs Group from $75.00 to $64.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other analysts have also issued research reports about the company. TD Cowen cut their price target on KBR from $72.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Citigroup cut their price target on KBR from $82.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. KeyCorp cut their price target on KBR from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group boosted their price objective on KBR from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, DA Davidson restated a “buy” rating and issued a $84.00 price objective on shares of KBR in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.88.

KBR Stock Performance

NYSE:KBR opened at $49.02 on Wednesday. The stock has a 50-day simple moving average of $55.33 and a two-hundred day simple moving average of $61.40. KBR has a 52-week low of $47.16 and a 52-week high of $72.60. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $6.53 billion, a PE ratio of 20.60, a P/E/G ratio of 0.86 and a beta of 0.83.

KBR (NYSE:KBR) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. KBR had a return on equity of 28.87% and a net margin of 4.35%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2 billion. Analysts forecast that KBR will post 3.26 EPS for the current year.

KBR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.165 dividend. This is an increase from KBR’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, March 14th. KBR’s payout ratio is currently 23.57%.

Institutional Investors Weigh In On KBR

A number of hedge funds have recently made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of KBR by 49.2% in the fourth quarter. UMB Bank n.a. now owns 531 shares of the construction company’s stock worth $31,000 after buying an additional 175 shares in the last quarter. Utah Retirement Systems lifted its position in shares of KBR by 2.9% in the fourth quarter. Utah Retirement Systems now owns 7,200 shares of the construction company’s stock worth $417,000 after buying an additional 200 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of KBR by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,122 shares of the construction company’s stock worth $239,000 after buying an additional 203 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of KBR by 1.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 19,700 shares of the construction company’s stock worth $1,283,000 after buying an additional 300 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of KBR by 2.9% in the third quarter. Janney Montgomery Scott LLC now owns 11,764 shares of the construction company’s stock worth $766,000 after buying an additional 335 shares in the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

About KBR

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.