Knoll Inc (KNL) Expected to Post Quarterly Sales of $327.75 Million

Equities analysts forecast that Knoll Inc (NYSE:KNL) will post sales of $327.75 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Knoll’s earnings. The highest sales estimate is $329.10 million and the lowest is $326.40 million. Knoll reported sales of $291.26 million during the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The firm is expected to issue its next earnings report on Monday, October 22nd.

On average, analysts expect that Knoll will report full year sales of $1.31 billion for the current year, with estimates ranging from $1.30 billion to $1.31 billion. For the next financial year, analysts expect that the firm will report sales of $1.37 billion per share, with estimates ranging from $1.37 billion to $1.38 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Knoll.

Knoll (NYSE:KNL) last released its quarterly earnings data on Monday, July 30th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Knoll had a net margin of 6.54% and a return on equity of 20.90%. The company had revenue of $323.40 million during the quarter, compared to the consensus estimate of $307.70 million. During the same period in the previous year, the firm earned $0.30 earnings per share. Knoll’s revenue for the quarter was up 20.4% on a year-over-year basis.

KNL has been the subject of several research reports. Zacks Investment Research upgraded shares of Knoll from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, June 27th. ValuEngine upgraded shares of Knoll from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $25.50.

In other Knoll news, Chairman Andrew B. Cogan sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $23.00, for a total transaction of $414,000.00. Following the completion of the sale, the chairman now directly owns 520,613 shares in the company, valued at $11,974,099. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Roxanne B. Klein sold 1,835 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $22.90, for a total transaction of $42,021.50. Following the sale, the senior vice president now owns 16,592 shares of the company’s stock, valued at $379,956.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,835 shares of company stock valued at $571,572. 1.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Knoll by 5.9% during the second quarter. BlackRock Inc. now owns 3,213,773 shares of the business services provider’s stock worth $66,879,000 after purchasing an additional 179,407 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Knoll by 0.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 3,178,481 shares of the business services provider’s stock worth $64,173,000 after purchasing an additional 17,602 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Knoll by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,119,876 shares of the business services provider’s stock worth $44,114,000 after purchasing an additional 9,166 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Knoll during the first quarter worth $36,503,000. Finally, Voya Investment Management LLC lifted its position in shares of Knoll by 1.2% during the second quarter. Voya Investment Management LLC now owns 1,674,532 shares of the business services provider’s stock worth $34,847,000 after purchasing an additional 20,664 shares in the last quarter. 89.72% of the stock is currently owned by institutional investors and hedge funds.

KNL traded up $0.21 during trading on Monday, hitting $23.53. 167,600 shares of the company’s stock were exchanged, compared to its average volume of 217,052. The company has a quick ratio of 0.61, a current ratio of 1.30 and a debt-to-equity ratio of 1.28. Knoll has a 1 year low of $17.56 and a 1 year high of $24.00. The company has a market cap of $1.15 billion, a P/E ratio of 17.05 and a beta of 0.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.60 annualized dividend and a yield of 2.55%. Knoll’s dividend payout ratio is currently 43.48%.

About Knoll

Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, textiles, fine leathers, and felt for the workplace and residential markets in the United States, Canada, and Europe. The company operates through three segments: Office, Studio, and Coverings.

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