Zacks: Brokerages Expect Kemet Corporation (KEM) Will Announce Quarterly Sales of $294.24 Million

Equities analysts predict that Kemet Corporation (NYSE:KEM) will report sales of $294.24 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Kemet’s earnings. The lowest sales estimate is $293.50 million and the highest is $295.30 million. Kemet posted sales of $188.03 million in the same quarter last year, which suggests a positive year-over-year growth rate of 56.5%. The business is expected to announce its next earnings report on Thursday, February 1st.

On average, analysts expect that Kemet will report full year sales of $294.24 million for the current fiscal year. For the next fiscal year, analysts expect that the business will post sales of $1.22 billion per share, with estimates ranging from $1.21 billion to $1.22 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Kemet.

Kemet (NYSE:KEM) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $301.47 million for the quarter, compared to analyst estimates of $298.51 million. Kemet had a return on equity of 21.07% and a net margin of 31.16%. The company’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share.

A number of brokerages have weighed in on KEM. B. Riley reissued a “buy” rating and set a $27.50 price target on shares of Kemet in a research report on Tuesday, October 31st. TheStreet downgraded Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. ValuEngine downgraded Kemet from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded Kemet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Kemet currently has a consensus rating of “Hold” and a consensus price target of $22.50.

In other news, CFO William M. Lowe, Jr. sold 21,903 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total value of $352,200.24. Following the transaction, the chief financial officer now owns 523,038 shares of the company’s stock, valued at $8,410,451.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEM. Russell Investments Group Ltd. lifted its stake in Kemet by 34.5% during the second quarter. Russell Investments Group Ltd. now owns 81,639 shares of the electronics maker’s stock worth $1,044,000 after purchasing an additional 20,949 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Kemet in the 2nd quarter valued at $982,000. Rhumbline Advisers bought a new position in shares of Kemet in the 2nd quarter valued at $634,000. Bank of New York Mellon Corp lifted its stake in shares of Kemet by 373.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,049 shares of the electronics maker’s stock valued at $2,061,000 after acquiring an additional 127,012 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Kemet in the 2nd quarter valued at $147,000. Hedge funds and other institutional investors own 69.79% of the company’s stock.

Shares of Kemet (NYSE KEM) traded down $0.12 during trading on Wednesday, hitting $16.16. The stock had a trading volume of 883,400 shares, compared to its average volume of 1,103,750. Kemet has a 12 month low of $6.29 and a 12 month high of $27.35. The company has a market capitalization of $922.97, a price-to-earnings ratio of 3.29 and a beta of 3.45. The company has a current ratio of 2.51, a quick ratio of 1.73 and a debt-to-equity ratio of 0.75.

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Kemet Company Profile

KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.

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