Zacks: Brokerages Anticipate Knowles Corp (NYSE:KN) to Post $0.19 Earnings Per Share

Wall Street analysts predict that Knowles Corp (NYSE:KN) will announce earnings of $0.19 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Knowles’ earnings, with estimates ranging from $0.18 to $0.20. Knowles posted earnings per share of $0.18 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The company is scheduled to issue its next earnings results on Tuesday, July 23rd.

On average, analysts expect that Knowles will report full year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.05 to $1.20. For the next fiscal year, analysts expect that the company will report earnings of $1.32 per share, with EPS estimates ranging from $1.22 to $1.42. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Knowles.

Knowles (NYSE:KN) last announced its quarterly earnings results on Wednesday, April 24th. The communications equipment provider reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.05). Knowles had a net margin of 7.88% and a return on equity of 6.05%. The firm had revenue of $179.80 million during the quarter, compared to the consensus estimate of $175.00 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The firm’s revenue was up .7% on a year-over-year basis.

A number of research analysts have recently commented on KN shares. Zacks Investment Research upgraded Knowles from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Saturday, April 27th. ValuEngine upgraded Knowles from a “hold” rating to a “buy” rating in a research note on Friday. Craig Hallum reiterated a “buy” rating and issued a $22.00 price target (up from $18.00) on shares of Knowles in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. set a $15.00 price target on Knowles and gave the company a “sell” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.93.

Shares of KN traded up $0.67 during trading hours on Friday, reaching $18.31. The stock had a trading volume of 1,804,692 shares, compared to its average volume of 635,715. Knowles has a 12 month low of $12.20 and a 12 month high of $19.43. The company has a market cap of $1.66 billion, a PE ratio of 22.89, a PEG ratio of 1.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 1.46. The stock has a 50-day moving average price of $16.98.

In related news, CFO John S. Anderson sold 7,500 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $18.11, for a total value of $135,825.00. Following the completion of the sale, the chief financial officer now directly owns 84,312 shares in the company, valued at $1,526,890.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 2,617 shares of company stock valued at $45,289 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan acquired a new stake in Knowles during the 4th quarter worth about $427,000. BlackRock Inc. grew its holdings in Knowles by 1.3% during the 4th quarter. BlackRock Inc. now owns 12,831,784 shares of the communications equipment provider’s stock worth $170,793,000 after acquiring an additional 164,736 shares during the period. United Services Automobile Association grew its stake in shares of Knowles by 42.4% in the 4th quarter. United Services Automobile Association now owns 24,520 shares of the communications equipment provider’s stock valued at $326,000 after buying an additional 7,297 shares during the period. California Public Employees Retirement System grew its stake in shares of Knowles by 7.1% in the 4th quarter. California Public Employees Retirement System now owns 262,115 shares of the communications equipment provider’s stock valued at $3,489,000 after buying an additional 17,482 shares during the period. Finally, Permanens Capital L.P. acquired a new stake in shares of Knowles in the 4th quarter valued at about $1,122,000.

Knowles Company Profile

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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