Kimball Electronics (NASDAQ:KE) Releases Quarterly Earnings Results, Misses Estimates By $0.40 EPS

Kimball Electronics (NASDAQ:KE) posted its quarterly earnings results on Wednesday. The electronics maker reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40), FiscalAI reports. Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%.The firm had revenue of $371.57 million during the quarter, compared to analyst estimates of $373.36 million.

Kimball Electronics Stock Performance

Shares of KE opened at $22.84 on Thursday. The firm has a market capitalization of $549.23 million, a PE ratio of 21.84, a P/E/G ratio of 1.12 and a beta of 1.23. The company has a quick ratio of 1.29, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $25.13 and a 200 day moving average price of $25.41. Kimball Electronics has a 52-week low of $21.01 and a 52-week high of $33.19.

Wall Street Analyst Weigh In

KE has been the subject of several research reports. Wall Street Zen lowered Kimball Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Zacks Research upgraded shares of Kimball Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. Finally, KeyCorp initiated coverage on shares of Kimball Electronics in a report on Thursday, July 2nd. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Kimball Electronics by 5.2% during the fourth quarter. Invesco Ltd. now owns 46,927 shares of the electronics maker’s stock worth $1,306,000 after purchasing an additional 2,324 shares in the last quarter. Empowered Funds LLC increased its position in shares of Kimball Electronics by 10.9% during the 4th quarter. Empowered Funds LLC now owns 117,824 shares of the electronics maker’s stock valued at $3,278,000 after purchasing an additional 11,583 shares during the period. XTX Topco Ltd raised its stake in shares of Kimball Electronics by 36.0% in the 4th quarter. XTX Topco Ltd now owns 23,397 shares of the electronics maker’s stock worth $651,000 after buying an additional 6,194 shares in the last quarter. Verdad Advisers LP bought a new stake in shares of Kimball Electronics in the 4th quarter worth $214,000. Finally, Millennium Management LLC lifted its holdings in shares of Kimball Electronics by 403.0% in the fourth quarter. Millennium Management LLC now owns 130,160 shares of the electronics maker’s stock valued at $3,621,000 after buying an additional 104,281 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.