$219.24 Million in Sales Expected for Knowles Corp (KN) This Quarter

Equities research analysts forecast that Knowles Corp (NYSE:KN) will announce sales of $219.24 million for the current quarter, according to Zacks. Four analysts have provided estimates for Knowles’ earnings, with the highest sales estimate coming in at $221.22 million and the lowest estimate coming in at $215.00 million. Knowles posted sales of $221.70 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.1%. The company is expected to issue its next earnings report on Wednesday, October 24th.

On average, analysts expect that Knowles will report full-year sales of $811.14 million for the current fiscal year, with estimates ranging from $810.40 million to $812.47 million. For the next fiscal year, analysts forecast that the company will post sales of $865.99 million per share, with estimates ranging from $847.50 million to $880.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Knowles.

Knowles (NYSE:KN) last posted its quarterly earnings results on Tuesday, July 24th. The communications equipment provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. Knowles had a net margin of 13.12% and a return on equity of 6.08%. The business had revenue of $188.40 million for the quarter, compared to analysts’ expectations of $179.86 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis.

A number of equities analysts have recently weighed in on KN shares. JPMorgan Chase & Co. cut shares of Knowles from a “neutral” rating to an “underweight” rating and set a $13.50 price target on the stock. in a research note on Friday, August 3rd. Craig Hallum upped their price target on shares of Knowles from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Dougherty & Co cut shares of Knowles from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 25th. ValuEngine raised shares of Knowles from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $19.00 price target (up from $17.00) on shares of Knowles in a research note on Wednesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.50.

In other Knowles news, insider Michael S. Polacek acquired 1,634 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were purchased at an average cost of $18.30 per share, with a total value of $29,902.20. Following the purchase, the insider now owns 65,878 shares in the company, valued at $1,205,567.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas G. Jackson sold 2,756 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $18.23, for a total transaction of $50,241.88. Following the completion of the sale, the vice president now directly owns 31,375 shares in the company, valued at $571,966.25. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP grew its stake in Knowles by 9.4% in the 2nd quarter. Royce & Associates LP now owns 1,277,850 shares of the communications equipment provider’s stock valued at $19,551,000 after acquiring an additional 109,500 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Knowles in the 2nd quarter valued at about $304,000. United Services Automobile Association grew its stake in Knowles by 1,394.2% in the 2nd quarter. United Services Automobile Association now owns 263,176 shares of the communications equipment provider’s stock valued at $9,072,000 after acquiring an additional 245,563 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Knowles by 71.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 40,300 shares of the communications equipment provider’s stock worth $617,000 after purchasing an additional 16,800 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Knowles during the 2nd quarter worth about $320,000.

Shares of NYSE:KN traded up $0.06 on Friday, reaching $16.12. 815,285 shares of the company were exchanged, compared to its average volume of 887,095. The company has a quick ratio of 1.43, a current ratio of 2.56 and a debt-to-equity ratio of 0.17. Knowles has a 1-year low of $10.94 and a 1-year high of $18.32. The stock has a market cap of $1.47 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.01.

About Knowles

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.

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