Zacks: Brokerages Anticipate Kraton Corp (KRA) Will Announce Quarterly Sales of $473.90 Million
Equities analysts predict that Kraton Corp (NYSE:KRA) will report sales of $473.90 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kraton’s earnings, with the lowest sales estimate coming in at $468.80 million and the highest estimate coming in at $479.00 million. Kraton posted sales of $465.97 million in the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The firm is expected to report its next earnings results after the market closes on Wednesday, February 27th.
According to Zacks, analysts expect that Kraton will report full-year sales of $2.04 billion for the current fiscal year, with estimates ranging from $2.03 billion to $2.04 billion. For the next year, analysts forecast that the business will post sales of $2.11 billion, with estimates ranging from $2.09 billion to $2.13 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Kraton.
KRA has been the topic of several recent analyst reports. SunTrust Banks cut Kraton from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. ValuEngine cut Kraton from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Stifel Nicolaus initiated coverage on Kraton in a research report on Monday, December 10th. They set a “hold” rating and a $22.00 target price on the stock. Zacks Investment Research cut Kraton from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, TheStreet cut Kraton from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Kraton presently has an average rating of “Hold” and an average price target of $45.67.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KRA. BlackRock Inc. grew its holdings in shares of Kraton by 4.5% in the 3rd quarter. BlackRock Inc. now owns 4,553,471 shares of the specialty chemicals company’s stock worth $214,696,000 after acquiring an additional 195,090 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Kraton by 11,720.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 182,748 shares of the specialty chemicals company’s stock worth $192,000 after acquiring an additional 181,202 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Kraton by 1,599.7% in the 3rd quarter. Federated Investors Inc. PA now owns 189,993 shares of the specialty chemicals company’s stock worth $8,958,000 after acquiring an additional 178,815 shares during the period. Assenagon Asset Management S.A. lifted its stake in Kraton by 665.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 166,549 shares of the specialty chemicals company’s stock valued at $7,853,000 after buying an additional 144,788 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. lifted its stake in Kraton by 7.6% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 947,842 shares of the specialty chemicals company’s stock valued at $20,701,000 after buying an additional 67,320 shares in the last quarter. Institutional investors and hedge funds own 96.42% of the company’s stock.
NYSE:KRA opened at $27.00 on Friday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.33 and a quick ratio of 1.04. Kraton has a twelve month low of $19.13 and a twelve month high of $53.99. The firm has a market capitalization of $862.92 million, a PE ratio of 9.47 and a beta of 2.05.
Kraton Corporation manufactures and sells styrenic block copolymers and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Polymer and Chemical. The Polymer segment offers performance products, including styrene-butadiene-styrene and styrene-isoprene-styrene; and specialty polymers, such as hydrogenated styrenic block copolymers, as well as isoprene rubber and isoprene rubber latex for use in medical and personal care products, adhesives, tackifiers, paints, and coatings.
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