Zacks: Analysts Anticipate Knowles Corporation (KN) Will Post Quarterly Sales of $221.25 Million
Analysts expect Knowles Corporation (NYSE:KN) to announce sales of $221.25 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Knowles Corporation’s earnings. The highest sales estimate is $225.00 million and the lowest is $219.98 million. Knowles Corporation posted sales of $243.10 million during the same quarter last year, which would indicate a negative year over year growth rate of 9%. The firm is scheduled to issue its next earnings results on Monday, October 23rd.
On average, analysts expect that Knowles Corporation will report full year sales of $221.25 million for the current financial year, with estimates ranging from $850.30 million to $880.90 million. For the next year, analysts expect that the company will report sales of $914.64 million per share, with estimates ranging from $896.30 million to $927.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Knowles Corporation.
Knowles Corporation (NYSE:KN) last posted its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. Knowles Corporation had a positive return on equity of 6.98% and a negative net margin of 2.44%. The firm had revenue of $190.20 million during the quarter, compared to analyst estimates of $190.24 million. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis.
Several brokerages have issued reports on KN. Zacks Investment Research lowered Knowles Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Dougherty & Co began coverage on Knowles Corporation in a report on Thursday, June 8th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, BidaskClub lowered Knowles Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.33.
In other Knowles Corporation news, insider Michael S. Polacek purchased 3,246 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $15.40 per share, with a total value of $49,988.40. Following the completion of the transaction, the insider now owns 42,866 shares of the company’s stock, valued at approximately $660,136.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently modified their holdings of KN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Knowles Corporation by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,022 shares of the communications equipment provider’s stock worth $220,000 after buying an additional 66 shares during the last quarter. Amalgamated Bank increased its stake in shares of Knowles Corporation by 0.9% in the second quarter. Amalgamated Bank now owns 12,533 shares of the communications equipment provider’s stock worth $212,000 after buying an additional 117 shares during the last quarter. Atria Investments LLC increased its stake in shares of Knowles Corporation by 1.5% in the second quarter. Atria Investments LLC now owns 12,485 shares of the communications equipment provider’s stock worth $211,000 after buying an additional 180 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Knowles Corporation by 0.8% in the first quarter. State Treasurer State of Michigan now owns 36,011 shares of the communications equipment provider’s stock worth $682,000 after buying an additional 300 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in shares of Knowles Corporation by 3.0% in the first quarter. Advantus Capital Management Inc now owns 11,356 shares of the communications equipment provider’s stock worth $215,000 after buying an additional 329 shares during the last quarter.
Knowles Corporation (NYSE:KN) traded down 0.95% during trading on Friday, hitting $14.59. The stock had a trading volume of 693,776 shares. Knowles Corporation has a 52-week low of $13.32 and a 52-week high of $19.90. The company has a 50-day moving average price of $15.49 and a 200-day moving average price of $17.55. The company’s market cap is $1.30 billion.
Knowles Corporation Company Profile
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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