KEMET Co. (KEM) Expected to Post Quarterly Sales of $306.72 Million

Wall Street brokerages expect KEMET Co. (NYSE:KEM) to report $306.72 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for KEMET’s earnings. The lowest sales estimate is $305.46 million and the highest is $307.70 million. KEMET reported sales of $197.52 million during the same quarter last year, which indicates a positive year over year growth rate of 55.3%. The business is expected to announce its next earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that KEMET will report full year sales of $306.72 million for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $1.25 billion per share, with estimates ranging from $1.24 billion to $1.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover KEMET.

KEMET (NYSE:KEM) last released its quarterly 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. KEMET had a return on equity of 22.51% and a net margin of 28.33%. The business had revenue of $306.40 million during the quarter, compared to analysts’ expectations of $295.68 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 63.0% compared to the same quarter last year.

KEM has been the subject of several analyst reports. B. Riley restated a “buy” rating and set a $27.50 price target on shares of KEMET in a research note on Tuesday, October 31st. TheStreet cut KEMET from a “b” rating to a “c” rating in a research note on Thursday, November 2nd. Zacks Investment Research cut KEMET from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, ValuEngine cut KEMET from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.58.

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

A number of hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its holdings in KEMET by 14.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 17,027 shares of the electronics maker’s stock worth $360,000 after acquiring an additional 2,110 shares during the period. Cubist Systematic Strategies LLC grew its holdings in KEMET by 13.1% during the second quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock worth $317,000 after acquiring an additional 2,875 shares during the period. State of Tennessee Treasury Department acquired a new position in KEMET during the third quarter worth $108,000. UBS Asset Management Americas Inc. grew its holdings in KEMET by 46.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 16,400 shares of the electronics maker’s stock worth $247,000 after acquiring an additional 5,200 shares during the period. Finally, Denali Advisors LLC acquired a new position in KEMET during the third quarter worth $122,000. 69.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KEMET (KEM) opened at $17.69 on Tuesday. 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. The company has a market capitalization of $1,000.00, a P/E ratio of 3.54 and a beta of 3.63.

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KEMET Company Profile

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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