Dougherty & Co Comments on Knowles Corporation’s FY2017 Earnings (KN)
Knowles Corporation (NYSE:KN) – Research analysts at Dougherty & Co lowered their FY2017 earnings per share (EPS) estimates for Knowles Corporation in a note issued to investors on Monday. Dougherty & Co analyst C. Anderson now expects that the communications equipment provider will post earnings per share of $0.65 for the year, down from their prior forecast of $0.69. Dougherty & Co also issued estimates for Knowles Corporation’s Q4 2017 earnings at $0.31 EPS and FY2018 earnings at $0.89 EPS.
Knowles Corporation (NYSE:KN) last issued its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.09. The business had revenue of $221.70 million for the quarter, compared to analyst estimates of $220.62 million. Knowles Corporation had a return on equity of 6.13% and a net margin of 0.25%. Knowles Corporation’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. COPYRIGHT VIOLATION WARNING: This piece was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/01/dougherty-co-comments-on-knowles-corporations-fy2017-earnings-kn.html.
Several other brokerages also recently commented on KN. Zacks Investment Research downgraded Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub downgraded Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Robert W. Baird reiterated a “buy” rating and set a $20.00 target price on shares of Knowles Corporation in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.75.
Shares of Knowles Corporation (NYSE KN) opened at 16.56 on Wednesday. Knowles Corporation has a one year low of $14.08 and a one year high of $19.90. The company’s 50-day moving average price is $15.53 and its 200-day moving average price is $16.40. The company’s market capitalization is $1.48 billion.
Several hedge funds have recently added to or reduced their stakes in KN. UBS Asset Management Americas Inc. boosted its stake in shares of Knowles Corporation by 35.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 49,709 shares of the communications equipment provider’s stock worth $942,000 after buying an additional 13,082 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Knowles Corporation by 7.3% in the 1st quarter. Prudential Financial Inc. now owns 57,838 shares of the communications equipment provider’s stock worth $1,096,000 after buying an additional 3,960 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Knowles Corporation by 16.6% in the 1st quarter. OppenheimerFunds Inc. now owns 13,460 shares of the communications equipment provider’s stock worth $255,000 after buying an additional 1,919 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Knowles Corporation by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 358,178 shares of the communications equipment provider’s stock worth $6,787,000 after buying an additional 7,520 shares during the last quarter. Finally, FMR LLC purchased a new position in shares of Knowles Corporation in the 1st quarter worth $4,989,000.
In other news, insider Michael S. Polacek purchased 3,246 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average cost of $15.40 per share, for a total transaction of $49,988.40. Following the purchase, the insider now directly owns 42,866 shares in the company, valued at approximately $660,136.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.
Knowles Corporation 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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