Kimball Electronics (NASDAQ:KE) announced that its board has approved a share buyback program, which permits the company to buyback $20.00 million in outstanding shares on Thursday, August 24th, EventVestor reports. This buyback authorization permits the electronics maker to purchase up to 42% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Kimball Electronics (NASDAQ:KE) traded up 0.27% during trading on Friday, hitting $18.50. The stock had a trading volume of 14,762 shares. Kimball Electronics has a 1-year low of $11.54 and a 1-year high of $20.30. The stock has a market cap of $498.70 million, a PE ratio of 14.92 and a beta of 0.97. The firm’s 50-day moving average price is $18.91 and its 200-day moving average price is $17.39.

Kimball Electronics (NASDAQ:KE) last announced its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. Kimball Electronics had a net margin of 3.67% and a return on equity of 9.32%. The company had revenue of $241.27 million during the quarter. On average, equities research analysts predict that Kimball Electronics will post $0.93 earnings per share for the current fiscal year.

Separately, BidaskClub downgraded Kimball Electronics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th.

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Kimball Electronics Company Profile

Kimball Electronics, Inc (Kimball Electronics) is an electronics manufacturing services (EMS) company. The Company is engaged in producing electronics for the automotive, medical, industrial and public safety markets. It provides design, engineering, manufacturing, packaging and distribution of electronic assemblies and circuit boards on a contract basis to a range of industries.

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