Brokerages Expect Kornit Digital Ltd (NASDAQ:KRNT) Will Announce Earnings of $0.16 Per Share

Brokerages expect Kornit Digital Ltd (NASDAQ:KRNT) to post $0.16 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kornit Digital’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.18. Kornit Digital posted earnings of $0.08 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 100%. The company is expected to announce its next earnings results on Tuesday, February 11th.

On average, analysts expect that Kornit Digital will report full-year earnings of $0.34 per share for the current financial year. For the next year, analysts forecast that the company will report earnings of $0.80 per share, with EPS estimates ranging from $0.75 to $0.84. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Monday, November 18th. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09). The firm had revenue of $49.70 million during the quarter, compared to analysts’ expectations of $48.68 million. Kornit Digital had a return on equity of 2.15% and a net margin of 4.75%. Kornit Digital’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share.

Several research firms have recently weighed in on KRNT. Zacks Investment Research upgraded Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 24th. William Blair reaffirmed an “outperform” rating on shares of Kornit Digital in a research report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective (up from $34.00) on shares of Kornit Digital in a report on Tuesday, November 19th. ValuEngine lowered Kornit Digital from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, BidaskClub upgraded shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $29.25.

KRNT traded down $0.40 during trading on Wednesday, hitting $32.09. 139,400 shares of the company’s stock traded hands, compared to its average volume of 304,342. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 133.71 and a beta of 1.09. The company’s 50 day simple moving average is $33.67 and its two-hundred day simple moving average is $30.57. Kornit Digital has a 12-month low of $16.10 and a 12-month high of $35.73. The company has a current ratio of 7.72, a quick ratio of 6.83 and a debt-to-equity ratio of 0.03.

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new position in shares of Kornit Digital in the 3rd quarter worth $50,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kornit Digital by 29.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,272 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 520 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Kornit Digital by 42.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,351 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 703 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Kornit Digital in the second quarter valued at about $103,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Kornit Digital in the third quarter worth about $114,000. 99.77% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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Earnings History and Estimates for Kornit Digital (NASDAQ:KRNT)

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