Equities research analysts expect that Knowles Corp (NYSE:KN) will announce sales of $235.49 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Knowles’ earnings, with estimates ranging from $235.00 million to $236.49 million. Knowles reported sales of $236.20 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The firm is expected to issue its next quarterly earnings results on Wednesday, October 23rd.
On average, analysts expect that Knowles will report full year sales of $857.57 million for the current fiscal year, with estimates ranging from $853.71 million to $862.36 million. For the next fiscal year, analysts expect that the business will post sales of $900.16 million, with estimates ranging from $872.10 million to $920.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Knowles.
Knowles (NYSE:KN) last posted its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $205.20 million during the quarter, compared to analyst estimates of $195.06 million. Knowles had a return on equity of 6.27% and a net margin of 7.88%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS.
Several research firms have recently weighed in on KN. Zacks Investment Research cut Knowles from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird set a $22.00 price objective on Knowles and gave the company a “buy” rating in a report on Friday, July 26th. Susquehanna Bancshares upgraded Knowles from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $20.00 to $22.00 in a report on Thursday, July 25th. ValuEngine upgraded Knowles from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Finally, Craig Hallum reiterated a “buy” rating and set a $23.00 price objective (up previously from $22.00) on shares of Knowles in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $19.71.
Shares of Knowles stock traded down $0.70 during trading on Friday, hitting $20.03. 815,636 shares of the company were exchanged, compared to its average volume of 883,789. The firm has a market capitalization of $1.85 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 2.46 and a beta of 1.28. Knowles has a 1-year low of $12.20 and a 1-year high of $20.99. The firm’s fifty day moving average price is $19.07 and its 200 day moving average price is $17.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.85 and a quick ratio of 1.59.
In other Knowles news, CEO Jeffrey Niew sold 4,866 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $20.75, for a total value of $100,969.50. Following the sale, the chief executive officer now owns 336,864 shares in the company, valued at approximately $6,989,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ye Jane Li sold 9,256 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $18.86, for a total value of $174,568.16. Following the completion of the sale, the director now owns 24,258 shares in the company, valued at approximately $457,505.88. The disclosure for this sale can be found here. Insiders sold a total of 72,086 shares of company stock worth $1,440,538 in the last 90 days. Company insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KN. Marshall Wace North America L.P. acquired a new position in shares of Knowles during the 1st quarter worth approximately $25,000. Point72 Asset Management L.P. acquired a new position in shares of Knowles during the 2nd quarter worth approximately $59,000. Quantamental Technologies LLC acquired a new position in shares of Knowles during the 2nd quarter worth approximately $99,000. AdvisorNet Financial Inc increased its position in shares of Knowles by 32.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,697 shares of the communications equipment provider’s stock worth $123,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Adirondack Research & Management Inc. acquired a new position in shares of Knowles during the 1st quarter worth approximately $167,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.
Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medical, defense, aerospace, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.
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