$0.38 EPS Expected for Knowles Corp (NYSE:KN) This Quarter
Brokerages expect Knowles Corp (NYSE:KN) to post earnings per share of $0.38 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Knowles’ earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.34. Knowles posted earnings per share of $0.34 during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.8%. The business is scheduled to report its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Knowles will report full-year earnings of $1.15 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.20. For the next year, analysts anticipate that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.25 to $1.42. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Knowles.
Knowles (NYSE:KN) last issued its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Knowles had a return on equity of 6.27% and a net margin of 7.88%. The business had revenue of $205.20 million for the quarter, compared to the consensus estimate of $195.06 million. During the same period last year, the business posted $0.18 EPS. The company’s revenue was up 8.9% compared to the same quarter last year.
KN traded up $0.34 during trading on Monday, hitting $20.01. 2,019,504 shares of the company’s stock traded hands, compared to its average volume of 752,763. The business’s 50 day moving average is $17.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.85 and a quick ratio of 1.46. Knowles has a 12-month low of $12.20 and a 12-month high of $20.06. The firm has a market cap of $1.79 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.18 and a beta of 1.28.
In other news, CEO Jeffrey Niew sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the chief executive officer now directly owns 313,839 shares in the company, valued at approximately $6,276,780. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John S. Anderson sold 7,500 shares of the firm’s 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 transaction, the chief financial officer now owns 84,312 shares in the company, valued at $1,526,890.32. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan bought a new position in Knowles in the 4th quarter worth $427,000. United Services Automobile Association raised its holdings in Knowles by 42.4% in the 4th quarter. United Services Automobile Association now owns 24,520 shares of the communications equipment provider’s stock worth $326,000 after purchasing an additional 7,297 shares during the period. Bank of New York Mellon Corp raised its holdings in Knowles by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,224,664 shares of the communications equipment provider’s stock worth $16,300,000 after purchasing an additional 44,259 shares during the period. Norges Bank bought a new stake in Knowles during the fourth quarter valued at about $9,771,000. Finally, CWM LLC raised its holdings in Knowles by 6.4% during the first quarter. CWM LLC now owns 578,015 shares of the communications equipment provider’s stock valued at $10,190,000 after acquiring an additional 34,540 shares during the period.
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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