Knoll, Inc. (KNL) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Knoll, Inc. (NYSE:KNL) released its earnings results on Monday. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04, Briefing.com reports. Knoll had a return on equity of 23.40% and a net margin of 6.43%. The firm had revenue of $291.26 million during the quarter, compared to analysts’ expectations of $277.40 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue was down .3% on a year-over-year basis.
Shares of Knoll (NYSE:KNL) traded up 16.35% during trading on Tuesday, reaching $23.27. The company had a trading volume of 788,420 shares. Knoll has a 52 week low of $16.57 and a 52 week high of $28.40. The company has a market capitalization of $1.13 billion, a PE ratio of 16.06 and a beta of 1.02. The stock’s 50-day moving average price is $19.19 and its 200-day moving average price is $20.45.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 14th. Knoll’s payout ratio is presently 41.38%.
In other Knoll news, Director Benjamin A. Pardo sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $19.45, for a total transaction of $42,790.00. Following the completion of the sale, the director now directly owns 23,773 shares in the company, valued at approximately $462,384.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.
KNL has been the subject of several research analyst reports. Sidoti initiated coverage on Knoll in a research report on Wednesday, August 16th. They set a “buy” rating and a $28.00 target price for the company. TheStreet cut Knoll from a “b-” rating to a “c+” rating in a research report on Thursday, September 7th. Zacks Investment Research upgraded Knoll from a “strong sell” rating to a “hold” rating in a research report on Monday, October 2nd. Raymond James Financial, Inc. upgraded Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Monday, August 28th. Finally, UBS AG upgraded Knoll from a “market perform” rating to an “outperform” rating in a research report on Monday, August 28th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $25.00.
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Knoll Company Profile
Knoll, Inc is a manufacturer of commercial and residential furniture, accessories and coverings. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes a range of workplace products that address workplace planning paradigms. These products include systems furniture, seating, storage, tables, desks and KnollExtra accessories, as well as the international sales of its North American Office products.
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