Brokerages forecast that Kemet Corporation (NYSE:KEM) will report $294.24 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Kemet’s earnings, with estimates ranging from $293.50 million to $295.30 million. Kemet reported sales of $188.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 56.5%. The business is scheduled to report its next earnings report on Thursday, February 1st.
On average, analysts expect that Kemet will report full year sales of $294.24 million for the current year. For the next year, analysts anticipate that the company will post sales of $1.22 billion per share, with estimates ranging from $1.21 billion to $1.22 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Kemet.
Kemet (NYSE:KEM) last issued its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $301.47 million for the quarter, compared to analysts’ expectations of $298.51 million. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The business’s revenue was up 60.9% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS.
KEM has been the subject of several research analyst reports. BidaskClub cut Kemet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research cut Kemet from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. TheStreet cut Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. ValuEngine upgraded Kemet from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, B. Riley reiterated a “buy” rating and issued a $27.50 price objective on shares of Kemet in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $22.50.
In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total value of $352,200.24. Following the sale, the chief financial officer now owns 523,038 shares of the company’s stock, valued at $8,410,451.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.88% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Kemet in the third quarter worth about $656,000. GSA Capital Partners LLP acquired a new position in shares of Kemet during the 3rd quarter worth about $737,000. Sterling Capital Management LLC acquired a new position in shares of Kemet during the 3rd quarter worth about $761,000. Piedmont Investment Advisors LLC acquired a new position in shares of Kemet during the 3rd quarter worth about $225,000. Finally, California Public Employees Retirement System lifted its position in shares of Kemet by 12.9% during the 3rd quarter. California Public Employees Retirement System now owns 141,211 shares of the electronics maker’s stock worth $2,984,000 after purchasing an additional 16,111 shares during the last quarter. 69.90% of the stock is currently owned by institutional investors.
Kemet (NYSE KEM) traded down $0.15 during trading hours on Thursday, reaching $14.20. The company’s stock had a trading volume of 2,677,200 shares, compared to its average volume of 1,481,514. The stock has a market capitalization of $809.08, a PE ratio of 14.79 and a beta of 3.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.51 and a quick ratio of 1.73. Kemet has a 1 year low of $5.78 and a 1 year high of $27.35.
Kemet Company Profile
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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