Kemet Corporation (KEM) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Kemet Corporation (NYSE:KEM) announced its earnings results on Thursday. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02, Bloomberg Earnings reports. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The business had revenue of $301.47 million for the quarter, compared to analyst estimates of $298.51 million. During the same quarter last year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 60.9% compared to the same quarter last year.
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In other Kemet Corporation news, VP Stefano Vetralla sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $18.70, for a total transaction of $168,300.00. Following the sale, the vice president now directly owns 51,611 shares of the company’s stock, valued at approximately $965,125.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank G. Brandenberg sold 11,525 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $23.12, for a total transaction of $266,458.00. Following the sale, the director now directly owns 66,831 shares in the company, valued at $1,545,132.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,525 shares of company stock worth $1,433,168. 3.88% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on KEM shares. Zacks Investment Research raised shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Friday, October 6th. BidaskClub raised shares of Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reissued a “hold” rating and issued a $12.00 price target on shares of Kemet Corporation in a research note on Friday, July 14th. B. Riley reissued a “buy” rating and issued a $24.25 price target on shares of Kemet Corporation in a research note on Thursday, August 3rd. Finally, TheStreet raised shares of Kemet Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.50.
About Kemet Corporation
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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