Zacks: Brokerages Anticipate Knowles Corp (KN) Will Announce Quarterly Sales of $195.32 Million

Analysts expect Knowles Corp (NYSE:KN) to post sales of $195.32 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Knowles’ earnings, with estimates ranging from $195.00 million to $196.27 million. Knowles reported sales of $188.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that Knowles will report full-year sales of $872.43 million for the current financial year, with estimates ranging from $851.90 million to $895.00 million. For the next financial year, analysts forecast that the firm will report sales of $945.74 million, with estimates ranging from $916.66 million to $980.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Knowles.

Knowles (NYSE:KN) last issued its earnings results on Wednesday, April 24th. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.05). Knowles had a net margin of 7.88% and a return on equity of 6.05%. The firm had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $175.00 million. During the same quarter last year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year.



A number of brokerages have commented on KN. Zacks Investment Research upgraded Knowles from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Saturday, April 27th. Craig Hallum restated a “buy” rating and issued a $22.00 target price (up previously from $18.00) on shares of Knowles in a research note on Thursday, April 25th. JPMorgan Chase & Co. set a $15.00 target price on Knowles and gave the company a “sell” rating in a research note on Tuesday, April 2nd. ValuEngine upgraded Knowles from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Finally, TheStreet upgraded Knowles from a “c” rating to a “b” rating in a research note on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.93.

In other news, CEO Jeffrey Niew sold 11,629 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $16.01, for a total transaction of $186,180.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John S. Anderson sold 7,500 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $18.11, for a total value of $135,825.00. Following the sale, the chief financial officer now owns 84,312 shares of the company’s stock, valued at approximately $1,526,890.32. The disclosure for this sale can be found here. In the last quarter, insiders have bought 2,578 shares of company stock valued at $45,079. 3.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Knowles by 1.4% during the 1st quarter. BlackRock Inc. now owns 13,016,940 shares of the communications equipment provider’s stock worth $229,488,000 after acquiring an additional 185,156 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Knowles by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 9,186,408 shares of the communications equipment provider’s stock worth $152,678,000 after acquiring an additional 164,175 shares in the last quarter. Falcon Edge Capital LP bought a new stake in shares of Knowles during the 1st quarter worth about $71,319,000. Northern Trust Corp boosted its stake in shares of Knowles by 2.3% during the 1st quarter. Northern Trust Corp now owns 2,051,125 shares of the communications equipment provider’s stock worth $36,162,000 after acquiring an additional 45,606 shares in the last quarter. Finally, Bernzott Capital Advisors boosted its stake in shares of Knowles by 1.1% during the 1st quarter. Bernzott Capital Advisors now owns 1,718,482 shares of the communications equipment provider’s stock worth $30,297,000 after acquiring an additional 18,095 shares in the last quarter.

NYSE KN traded down $0.59 on Thursday, reaching $17.27. The stock had a trading volume of 747,060 shares, compared to its average volume of 837,158. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 1.46. Knowles has a 1 year low of $12.20 and a 1 year high of $19.43. The company has a market capitalization of $1.57 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 1.91 and a beta of 1.12.

Knowles Company Profile

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medical, defense, aerospace, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.

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