Knowles Corp (KN) Expected to Announce Quarterly Sales of $190 Million
Wall Street analysts predict that Knowles Corp (NYSE:KN) will post $190 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Knowles Corp’s earnings. The highest sales estimate is $190.01 million and the lowest is $190 million. Knowles Corp posted sales of $190.3 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.2%. The firm is scheduled to announce its next earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that Knowles Corp will report full year sales of $190 million for the current year, with estimates ranging from $887.6 million to $898.7 million. For the next year, analysts forecast that the company will post sales of $946.92 million per share, with estimates ranging from $933.9 million to $960 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Knowles Corp.
Knowles Corp (NYSE:KN) last issued its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.03. Knowles Corp had a positive return on equity of 6.44% and a negative net margin of 4.92%. The firm had revenue of $193.70 million during the quarter, compared to analysts’ expectations of $190 million. During the same period in the previous year, the firm earned $0.08 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis.
Separately, Zacks Investment Research lowered shares of Knowles Corp from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Knowles Corp has a consensus rating of “Hold” and a consensus target price of $17.17.
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Shares of Knowles Corp (NYSE:KN) traded down 2.47% on Friday, hitting $16.98. 553,965 shares of the stock were exchanged. The company’s 50 day moving average is $18.23 and its 200-day moving average is $17.74. Knowles Corp has a 52-week low of $12.57 and a 52-week high of $19.90. The stock’s market cap is $1.52 billion.
In other Knowles Corp news, VP Thomas G. Jackson sold 5,756 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $18.34, for a total value of $105,565.04. Following the transaction, the vice president now directly owns 36,768 shares in the company, valued at $674,325.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Niew sold 3,217 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $18.34, for a total transaction of $58,999.78. Following the completion of the transaction, the chief executive officer now owns 362,946 shares in the company, valued at $6,656,429.64. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.
A number of institutional investors have recently made changes to their positions in KN. State Treasurer State of Michigan raised its position in shares of Knowles Corp by 0.8% in the first quarter. State Treasurer State of Michigan now owns 36,011 shares of the communications equipment provider’s stock valued at $682,000 after buying an additional 300 shares in the last quarter. Advantus Capital Management Inc raised its position in shares of Knowles Corp by 3.0% in the first quarter. Advantus Capital Management Inc now owns 11,356 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 329 shares in the last quarter. Marathon Capital Management raised its position in shares of Knowles Corp by 0.7% in the first quarter. Marathon Capital Management now owns 53,750 shares of the communications equipment provider’s stock valued at $1,019,000 after buying an additional 350 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in shares of Knowles Corp by 1.0% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 40,446 shares of the communications equipment provider’s stock valued at $766,000 after buying an additional 386 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Knowles Corp by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 30,471 shares of the communications equipment provider’s stock valued at $577,000 after buying an additional 400 shares in the last quarter.
Knowles Corp 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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