Key Tronic (NASDAQ:KTCC) Releases Q2 2023 Earnings Guidance

Key Tronic (NASDAQ:KTCC – Get Rating) updated its second quarter 2023 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.04-$0.07 for the period. The company issued revenue guidance of $123.50 million-$123.50 million. Key Tronic also updated its Q3 2023 guidance to $0.15-$0.25 EPS.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Key Tronic in a report on Tuesday. They issued a hold rating for the company.

Key Tronic Stock Performance

Shares of NASDAQ KTCC opened at $4.70 on Tuesday. The firm has a market capitalization of $50.57 million, a price-to-earnings ratio of 13.82 and a beta of 1.54. Key Tronic has a 12-month low of $4.00 and a 12-month high of $6.54. The firm has a 50 day moving average of $4.68 and a 200 day moving average of $4.63. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.92.

Key Tronic (NASDAQ:KTCC – Get Rating) last released its earnings results on Tuesday, November 1st. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $137.26 million for the quarter. Key Tronic had a net margin of 0.69% and a return on equity of 2.98%.

Institutional Trading of Key Tronic

Several hedge funds have recently modified their holdings of KTCC. Vanguard Group Inc. raised its position in shares of Key Tronic by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 436,002 shares of the technology company’s stock valued at $2,463,000 after purchasing an additional 24,521 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Key Tronic by 20.3% during the 1st quarter. Ancora Advisors LLC now owns 119,073 shares of the technology company’s stock worth $918,000 after purchasing an additional 20,100 shares during the period. State Street Corp acquired a new stake in shares of Key Tronic during the 1st quarter worth approximately $66,000. Finally, Dimensional Fund Advisors LP grew its stake in Key Tronic by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 797,145 shares of the technology company’s stock valued at $4,504,000 after acquiring an additional 7,277 shares during the period. 42.77% of the stock is owned by hedge funds and other institutional investors.

Key Tronic Company Profile

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Key Tronic Corp. engages in the provision of electronic and mechanical engineering, assembly, sourcing and procurement, logistics, and new product testing. The company was founded by Lewis G. Zirkle in 1969 and is headquartered in Spokane Valley, WA.