Kennedy-Wilson Receives a Buy from BTIG

By George MacDonald

BTIG analyst Mark Palmer maintained a Buy rating on Kennedy-Wilson (NYSE: KW) today and set a price target of $33. The company’s shares opened today at $24.68.

Palmer commented, “Improved Disclosure; Raising PT to $33 (from $32) While investors in shares of Kennedy-Wilson Holdings (KW) have expressed frustration about how KW’s reporting conventions have sometimes obscured the company’s progress, KW’s 3Q15 results were so much better than expectations that there was no question about form trumping substance.”

Kennedy-Wilson has an analyst consensus of Strong Buy, with a price target consensus of $37.

Based on Kennedy-Wilson`s latest earnings report from June 30, the company posted quarterly revenue of $140.5M and quarterly net profit of $31.8M. In comparison, last year the company earned revenue of $113.7M and had a net profit of -$200k.

Like BTIG`s latest rating, based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KW in relation to earlier this year. Most recently, in September 2012, Kent Mouton, a the General Counsel of KW sold 10,000 shares for a total of $144,500.

According to TipRanks.com, Palmer is ranked 0 out of 5 stars with an average return of -5.5% and a 37.8% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Mgic Investment Corp., and Assured Guaranty Ltd.

Kennedy-Wilson Holdings Inc is a vertically integrated real estate investment and services company. It acquires, renovates and holds yields or resells commercial and residential real estate, and invests in loan pools and discounted loan portfolios.