Key Tronic (NASDAQ:KTCC) Releases Q3 2023 Earnings Guidance

Key Tronic (NASDAQ:KTCC – Get Rating) updated its third quarter 2023 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.15-$0.25 for the period. The company issued revenue guidance of $160.00 million-$170.00 million. Key Tronic also updated its Q2 2023 guidance to $0.04-$0.07 EPS.

Analyst Upgrades and Downgrades

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

Key Tronic Stock Performance

KTCC stock opened at $4.70 on Tuesday. The firm has a market cap of $50.57 million, a price-to-earnings ratio of 13.82 and a beta of 1.54. The firm has a 50-day simple moving average of $4.68 and a two-hundred day simple moving average of $4.63. Key Tronic has a one year low of $4.00 and a one year high of $6.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.10 and a current ratio of 2.07.

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

Institutional Investors Weigh In On Key Tronic

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp acquired a new stake in Key Tronic during the 1st quarter worth $66,000. Ancora Advisors LLC raised its holdings in Key Tronic by 20.3% in the 1st quarter. Ancora Advisors LLC now owns 119,073 shares of the technology company’s stock valued at $918,000 after buying an additional 20,100 shares during the period. Vanguard Group Inc. raised its holdings in 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 buying an additional 24,521 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Key Tronic by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 808,358 shares of the technology company’s stock valued at $3,266,000 after buying an additional 3,476 shares during the period. Institutional investors and hedge funds own 42.77% of the company’s stock.

About Key Tronic

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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.