Zacks: Analysts Anticipate Kemet Corporation (KEM) Will Post Earnings of $0.45 Per Share
Equities analysts expect Kemet Corporation (NYSE:KEM) to announce $0.45 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Kemet Corporation’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.48. Kemet Corporation reported earnings of $0.13 per share during the same quarter last year, which would indicate a positive year over year growth rate of 246.2%. The firm is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Kemet Corporation will report full year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.69. For the next year, analysts expect that the company will report earnings of $1.68 per share, with EPS estimates ranging from $1.60 to $1.78. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Kemet Corporation.
Kemet Corporation (NYSE:KEM) last issued its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The firm had revenue of $274.00 million during the quarter, compared to the consensus estimate of $282.52 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year.
A number of research analysts have issued reports on KEM shares. Zacks Investment Research raised shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Friday. ValuEngine raised shares of Kemet Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. TheStreet raised shares of Kemet Corporation from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. BidaskClub raised shares of Kemet Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Kemet Corporation in a report on Monday, August 7th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.42.
In related news, insider Charles C. Meeks, Jr. sold 30,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $18.89, for a total transaction of $566,700.00. Following the sale, the insider now owns 259,781 shares in the company, valued at $4,907,263.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Ronald James Assaf sold 9,334 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $17.73, for a total transaction of $165,491.82. Following the sale, the senior vice president now owns 114,225 shares in the company, valued at approximately $2,025,209.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,859 shares of company stock valued at $1,598,660. 3.88% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in KEM. Globeflex Capital L P acquired a new stake in Kemet Corporation during the second quarter valued at $105,000. JPMorgan Chase & Co. acquired a new stake in Kemet Corporation during the second quarter valued at $125,000. UBS Asset Management Americas Inc. acquired a new stake in Kemet Corporation during the second quarter valued at $143,000. Legal & General Group Plc acquired a new stake in Kemet Corporation during the second quarter valued at $147,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Kemet Corporation during the second quarter valued at $177,000. Institutional investors own 67.27% of the company’s stock.
Shares of Kemet Corporation (NYSE:KEM) traded down 0.08% during midday trading on Friday, hitting $23.94. 1,389,287 shares of the stock were exchanged. The firm’s 50-day moving average is $21.29 and its 200-day moving average is $15.80. Kemet Corporation has a 12 month low of $3.45 and a 12 month high of $24.64. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 4.84 and a beta of 3.56.
Kemet Corporation 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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