Zacks: Analysts Anticipate KEMET Co. (KEM) Will Announce Earnings of $0.41 Per Share

Analysts expect that KEMET Co. (NYSE:KEM) will report earnings of $0.41 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for KEMET’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.44. KEMET reported earnings of $0.14 per share in the same quarter last year, which would suggest a positive year over year growth rate of 192.9%. The firm is scheduled to announce its next earnings results on Wednesday, May 9th.

On average, analysts expect that KEMET will report full-year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.75. For the next fiscal year, analysts forecast that the business will report earnings of $1.86 per share, with EPS estimates ranging from $1.68 to $2.06. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow KEMET.

KEMET (NYSE:KEM) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.16. The company had revenue of $306.40 million during the quarter, compared to the consensus estimate of $295.68 million. KEMET had a return on equity of 22.51% and a net margin of 28.33%. The firm’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS.

KEM has been the subject of a number of recent analyst reports. B. Riley lifted their price objective on shares of KEMET from $22.50 to $24.75 and gave the company a “buy” rating in a report on Friday, February 2nd. ValuEngine raised shares of KEMET from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. TheStreet lowered shares of KEMET from a “b” rating to a “c” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research lowered shares of KEMET from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. KEMET has a consensus rating of “Buy” and a consensus target price of $19.58.

Shares of KEMET (NYSE KEM) traded up $0.32 on Friday, reaching $17.34. 2,166,354 shares of the company’s stock traded hands, compared to its average volume of 2,130,000. The firm has a market capitalization of $981.54, a P/E ratio of 3.47 and a beta of 3.63. KEMET has a 52 week low of $7.80 and a 52 week high of $27.35. The company has a current ratio of 2.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.70.

In related news, Director Joseph Vincent Borruso sold 20,332 shares of KEMET stock in a transaction on Friday, January 19th. The shares were sold at an average price of $20.00, for a total value of $406,640.00. Following the completion of the sale, the director now owns 70,134 shares in the company, valued at $1,402,680. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William M. Lowe, Jr. sold 24,700 shares of KEMET stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $16.93, for a total transaction of $418,171.00. Following the completion of the sale, the chief financial officer now owns 461,570 shares of the company’s stock, valued at approximately $7,814,380.10. The disclosure for this sale can be found here. 3.88% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of KEM. NJ State Employees Deferred Compensation Plan bought a new stake in KEMET during the third quarter valued at $845,000. Teachers Advisors LLC acquired a new position in shares of KEMET in the 2nd quarter valued at about $1,039,000. JPMorgan Chase & Co. increased its holdings in shares of KEMET by 4,743.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 471,288 shares of the electronics maker’s stock valued at $10,265,000 after purchasing an additional 461,558 shares during the period. Alliancebernstein L.P. acquired a new position in shares of KEMET in the 2nd quarter valued at about $694,000. Finally, IFP Advisors Inc acquired a new position in shares of KEMET in the 3rd quarter valued at about $459,000. Institutional investors and hedge funds own 69.01% of the company’s stock.

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About KEMET

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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