Kornit Digital Ltd (KRNT) Expected to Announce Earnings of $0.13 Per Share

Wall Street brokerages expect that Kornit Digital Ltd (NASDAQ:KRNT) will report earnings of $0.13 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kornit Digital’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.12. Kornit Digital posted earnings per share of $0.04 during the same quarter last year, which would suggest a positive year over year growth rate of 225%. The company is expected to issue its next quarterly earnings report on Tuesday, February 12th.

According to Zacks, analysts expect that Kornit Digital will report full-year earnings of $0.41 per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.65 to $0.66. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Monday, November 12th. The industrial products company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Kornit Digital had a net margin of 3.78% and a return on equity of 4.53%. The company had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $37.65 million. During the same quarter in the previous year, the firm posted $0.05 EPS. Kornit Digital’s revenue was up 32.4% on a year-over-year basis.

KRNT has been the topic of a number of analyst reports. Needham & Company LLC boosted their target price on shares of Kornit Digital from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Barclays restated a “buy” rating and set a $22.00 price target on shares of Kornit Digital in a research report on Wednesday, August 8th. BidaskClub lowered shares of Kornit Digital from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. ValuEngine upgraded shares of Kornit Digital from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, Stifel Nicolaus boosted their price target on shares of Kornit Digital from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Kornit Digital has an average rating of “Buy” and an average target price of $22.60.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRNT. Eqis Capital Management Inc. purchased a new position in shares of Kornit Digital during the 2nd quarter valued at $313,000. Wasatch Advisors Inc. grew its position in Kornit Digital by 19.6% in the second quarter. Wasatch Advisors Inc. now owns 505,345 shares of the industrial products company’s stock worth $8,995,000 after acquiring an additional 82,708 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Kornit Digital in the second quarter worth $201,000. Clal Insurance Enterprises Holdings Ltd grew its position in Kornit Digital by 17.3% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,133,522 shares of the industrial products company’s stock worth $37,977,000 after acquiring an additional 314,805 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Kornit Digital by 55.5% in the second quarter. Russell Investments Group Ltd. now owns 495,143 shares of the industrial products company’s stock worth $8,813,000 after acquiring an additional 176,684 shares in the last quarter. Hedge funds and other institutional investors own 88.47% of the company’s stock.

Shares of KRNT stock opened at $23.02 on Monday. Kornit Digital has a 1 year low of $11.70 and a 1 year high of $23.90. The firm has a market cap of $789.75 million, a price-to-earnings ratio of 115.10 and a beta of 0.67.

About Kornit Digital

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

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