Kimball Electronics (NASDAQ:KE) Announces Earnings Results, Meets Expectations

Kimball Electronics (NASDAQ:KE) released its earnings results on Wednesday. The electronics maker reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28, FiscalAI reports. The firm had revenue of $341.28 million during the quarter, compared to analysts’ expectations of $339.34 million. Kimball Electronics had a net margin of 1.65% and a return on equity of 6.13%.

Kimball Electronics Trading Down 23.3%

Shares of KE stock opened at $23.55 on Friday. The stock has a market cap of $573.21 million, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 2.21 and a debt-to-equity ratio of 0.23. Kimball Electronics has a fifty-two week low of $12.41 and a fifty-two week high of $33.19. The firm’s 50 day moving average price is $29.44 and its two-hundred day moving average price is $27.95.

Hedge Funds Weigh In On Kimball Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc acquired a new stake in Kimball Electronics in the 3rd quarter valued at $48,000. Caxton Associates LLP acquired a new stake in shares of Kimball Electronics in the third quarter valued at about $688,000. XTX Topco Ltd acquired a new stake in shares of Kimball Electronics in the third quarter valued at about $514,000. Virtus Advisers LLC purchased a new stake in shares of Kimball Electronics during the 3rd quarter valued at about $215,000. Finally, Quarry LP purchased a new position in Kimball Electronics in the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KE shares. Lake Street Capital reiterated a “buy” rating and set a $32.00 target price on shares of Kimball Electronics in a research report on Friday, November 7th. B. Riley reaffirmed a “buy” rating on shares of Kimball Electronics in a research note on Thursday, October 9th. Wall Street Zen raised shares of Kimball Electronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Kimball Electronics in a report on Friday, January 9th. Finally, Zacks Research downgraded shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Kimball Electronics Company Profile

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.