Knoll Inc (KNL) Expected to Post Quarterly Sales of $327.75 Million
Analysts expect Knoll Inc (NYSE:KNL) to report sales of $327.75 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Knoll’s earnings. The lowest sales estimate is $326.40 million and the highest is $329.10 million. Knoll reported sales of $291.26 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The business is expected to announce its next earnings results on Monday, October 22nd.
According to Zacks, analysts expect that Knoll will report full year sales of $1.31 billion for the current year, with estimates ranging from $1.30 billion to $1.31 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.37 billion per share, with estimates ranging from $1.37 billion to $1.38 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Knoll.
Knoll (NYSE:KNL) last announced its earnings results on Monday, July 30th. The business services provider reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. Knoll had a return on equity of 20.90% and a net margin of 6.54%. The company had revenue of $323.40 million during the quarter, compared to analyst estimates of $307.70 million. During the same period last year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year.
In related news, Director Kathleen G. Bradley sold 12,481 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $23.37, for a total value of $291,680.97. Following the transaction, the director now owns 120,523 shares in the company, valued at $2,816,622.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Andrew B. Cogan sold 18,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $23.00, for a total value of $414,000.00. Following the completion of the transaction, the chairman now owns 520,613 shares in the company, valued at approximately $11,974,099. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,835 shares of company stock worth $1,040,175. 1.90% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. boosted its holdings in Knoll by 118.9% during the first quarter. Citigroup Inc. now owns 25,127 shares of the business services provider’s stock worth $507,000 after buying an additional 13,648 shares during the last quarter. Greenwich Wealth Management LLC boosted its holdings in Knoll by 16.3% during the second quarter. Greenwich Wealth Management LLC now owns 19,984 shares of the business services provider’s stock worth $416,000 after buying an additional 2,801 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Knoll by 5.3% during the first quarter. Wells Fargo & Company MN now owns 830,227 shares of the business services provider’s stock worth $16,762,000 after buying an additional 41,717 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in Knoll by 7.5% during the second quarter. Epoch Investment Partners Inc. now owns 1,067,076 shares of the business services provider’s stock worth $22,206,000 after buying an additional 74,005 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Knoll by 12.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 361,554 shares of the business services provider’s stock worth $7,300,000 after buying an additional 38,843 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.
Knoll stock traded up $0.07 during mid-day trading on Thursday, hitting $22.90. The stock had a trading volume of 90,300 shares, compared to its average volume of 213,449. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 16.59 and a beta of 0.91. Knoll has a 12 month low of $18.01 and a 12 month high of $24.00. The company has a quick ratio of 0.61, a current ratio of 1.30 and a debt-to-equity ratio of 1.28.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, September 13th. Knoll’s dividend payout ratio is 43.48%.
Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, textiles, fine leathers, and felt for the workplace and residential markets in the United States, Canada, and Europe. The company operates through three segments: Office, Studio, and Coverings.
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