Kennedy-Wilson (NYSE:KW) Downgraded by ValuEngine

Kennedy-Wilson (NYSE:KW) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

Separately, BTIG Research reissued a “buy” rating and issued a $33.00 target price on shares of Kennedy-Wilson in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.51.

KW stock opened at $22.49 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 4.02. Kennedy-Wilson has a fifty-two week low of $17.25 and a fifty-two week high of $22.75. The business has a 50 day moving average price of $21.26 and a 200 day moving average price of $21.17. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 16.91 and a beta of 1.13.

Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.08. Kennedy-Wilson had a return on equity of 13.49% and a net margin of 13.61%. The company had revenue of $143.70 million during the quarter, compared to analysts’ expectations of $160.05 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was down 34.0% on a year-over-year basis.

In related news, General Counsel Kent Y. Mouton sold 30,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $20.56, for a total transaction of $616,800.00. Following the transaction, the general counsel now owns 474,956 shares of the company’s stock, valued at $9,765,095.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in KW. Nuveen Asset Management LLC bought a new stake in Kennedy-Wilson during the 2nd quarter valued at $21,014,000. Cutter & CO Brokerage Inc. bought a new position in shares of Kennedy-Wilson in the 2nd quarter worth $8,434,000. Victory Capital Management Inc. bought a new position in shares of Kennedy-Wilson in the 1st quarter worth $8,506,000. Schroder Investment Management Group increased its holdings in shares of Kennedy-Wilson by 72.8% in the 2nd quarter. Schroder Investment Management Group now owns 931,224 shares of the financial services provider’s stock worth $19,155,000 after buying an additional 392,355 shares during the last quarter. Finally, Copeland Capital Management LLC increased its holdings in shares of Kennedy-Wilson by 27.0% in the 2nd quarter. Copeland Capital Management LLC now owns 1,379,201 shares of the financial services provider’s stock worth $28,370,000 after buying an additional 293,603 shares during the last quarter. 81.31% of the stock is currently owned by hedge funds and other institutional investors.

About Kennedy-Wilson

Kennedy-Wilson Holdings, Inc is a global real estate investment company, which engages in the ownership, operation, and investment in real estate through its investment platform. It operates through the following business segments: KW Investments, and KW Investment Management and Real Estate Services (IMRES).

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