Knowles (NYSE:KN) Releases Earnings Results, Beats Expectations By $0.06 EPS

Knowles (NYSE:KN) announced its quarterly earnings results on Thursday. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06, Briefing.com reports. The company had revenue of $142.50 million for the quarter, compared to analysts’ expectations of $140.97 million. Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%. Knowles’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. Knowles updated its Q4 guidance to $0.26-0.30 EPS.

Knowles Trading Up 2.6 %

Shares of KN traded up $0.44 during trading hours on Friday, hitting $17.66. The company had a trading volume of 661,067 shares, compared to its average volume of 557,681. The firm has a market cap of $1.56 billion, a P/E ratio of -8.14 and a beta of 1.42. The stock’s 50 day moving average price is $17.59 and its 200 day moving average price is $17.36. The company has a quick ratio of 1.30, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. Knowles has a 52-week low of $12.78 and a 52-week high of $19.73.

Insider Transactions at Knowles

In other news, Director Cheryl L. Shavers sold 12,579 shares of Knowles stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $17.29, for a total value of $217,490.91. Following the transaction, the director now owns 48,933 shares in the company, valued at approximately $846,051.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO John S. Anderson sold 10,444 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $18.50, for a total value of $193,214.00. Following the sale, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cheryl L. Shavers sold 12,579 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $17.29, for a total value of $217,490.91. Following the completion of the sale, the director now directly owns 48,933 shares in the company, valued at $846,051.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,748 shares of company stock worth $530,948. Company insiders own 2.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KN shares. Susquehanna dropped their price target on shares of Knowles from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com cut shares of Knowles from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Craig Hallum upgraded shares of Knowles to a “strong-buy” rating in a research note on Wednesday, October 16th.

About Knowles

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).