$0.26 EPS Expected for Knowles Corporation (KN) This Quarter
Wall Street analysts forecast that Knowles Corporation (NYSE:KN) will announce earnings of $0.26 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Knowles Corporation’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.25. Knowles Corporation reported earnings of $0.37 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 29.7%. The firm is scheduled to report its next quarterly earnings results on Monday, October 23rd.
On average, analysts expect that Knowles Corporation will report full year earnings of $0.94 per share for the current year, with EPS estimates ranging from $0.85 to $1.00. For the next financial year, analysts expect that the business will post earnings of $1.12 per share, with EPS estimates ranging from $1.01 to $1.19. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Knowles Corporation.
Knowles Corporation (NYSE:KN) last announced its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the 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 business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $190.24 million. During the same period in the prior year, the company earned $0.13 EPS. Knowles Corporation’s revenue for the quarter was down .1% on a year-over-year basis.
A number of equities research analysts have recently weighed in on KN shares. Dougherty & Co started coverage on Knowles Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $22.00 target price for the company. BidaskClub downgraded Knowles Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Knowles Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $19.00.
Shares of Knowles Corporation (NYSE:KN) traded down 0.82% during mid-day trading on Friday, hitting $14.48. The company had a trading volume of 582,943 shares. The company’s 50-day moving average is $15.03 and its 200 day moving average is $17.27. Knowles Corporation has a one year low of $13.32 and a one year high of $19.90. The company’s market capitalization is $1.29 billion.
In other news, insider Michael S. Polacek bought 3,246 shares of Knowles Corporation stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $15.40 per share, for a total transaction of $49,988.40. Following the acquisition, the insider now owns 42,866 shares of the company’s stock, valued at $660,136.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new position in shares of Knowles Corporation during the 2nd quarter worth approximately $181,842,000. BlackRock Inc. grew its holdings in shares of Knowles Corporation by 16,850.3% during the 1st quarter. BlackRock Inc. now owns 9,107,540 shares of the communications equipment provider’s stock worth $172,588,000 after acquiring an additional 9,053,809 shares during the period. Vanguard Group Inc. grew its holdings in shares of Knowles Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,497,520 shares of the communications equipment provider’s stock worth $126,858,000 after acquiring an additional 170,687 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Knowles Corporation by 27.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,618,463 shares of the communications equipment provider’s stock worth $61,225,000 after acquiring an additional 781,379 shares during the period. Finally, State Street Corp grew its holdings in shares of Knowles Corporation by 4.3% during the 2nd quarter. State Street Corp now owns 2,879,505 shares of the communications equipment provider’s stock worth $48,729,000 after acquiring an additional 119,203 shares during the period.
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About Knowles Corporation
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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