Zacks: Analysts Expect Knowles Co. (NYSE:KN) Will Announce Quarterly Sales of $231.86 Million

Wall Street brokerages expect Knowles Co. (NYSE:KN) to post sales of $231.86 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Knowles’ earnings, with estimates ranging from $231.72 million to $232.00 million. Knowles posted sales of $205.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The company is scheduled to report its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Knowles will report full-year sales of $870.63 million for the current financial year, with estimates ranging from $867.80 million to $873.45 million. For the next fiscal year, analysts anticipate that the firm will report sales of $935.87 million, with estimates ranging from $925.00 million to $946.74 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Knowles.

Knowles (NYSE:KN) last announced its earnings results on Wednesday, July 28th. The communications equipment provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.11. The company had revenue of $199.80 million during the quarter, compared to the consensus estimate of $195.40 million. Knowles had a return on equity of 7.26% and a net margin of 7.68%.

Several analysts recently weighed in on KN shares. Susquehanna reissued a “hold” rating and issued a $22.00 price objective on shares of Knowles in a report on Thursday, July 29th. Roth Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Knowles in a report on Monday, September 20th. Susquehanna Bancshares reissued a “hold” rating and set a $22.00 target price on shares of Knowles in a report on Thursday, July 29th. Zacks Investment Research raised shares of Knowles from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Monday, August 2nd. Finally, TheStreet raised shares of Knowles from a “c+” rating to a “b-” rating in a research report on Monday, August 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.50.

Shares of NYSE:KN opened at $19.07 on Friday. The firm has a market cap of $1.75 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.71 and a beta of 1.37. The company has a fifty day simple moving average of $19.60 and a 200 day simple moving average of $20.13. Knowles has a 12-month low of $14.03 and a 12-month high of $22.11.

In related news, CEO Jeffrey Niew sold 121,396 shares of Knowles stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $19.99, for a total transaction of $2,426,706.04. Following the transaction, the chief executive officer now directly owns 541,777 shares of the company’s stock, valued at $10,830,122.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.07% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its position in shares of Knowles by 0.6% in the first quarter. Prudential Financial Inc. now owns 105,787 shares of the communications equipment provider’s stock worth $2,213,000 after acquiring an additional 600 shares in the last quarter. Texas Permanent School Fund grew its position in Knowles by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 69,152 shares of the communications equipment provider’s stock worth $1,365,000 after purchasing an additional 624 shares in the last quarter. Profund Advisors LLC grew its position in Knowles by 6.9% during the 2nd quarter. Profund Advisors LLC now owns 12,541 shares of the communications equipment provider’s stock worth $248,000 after purchasing an additional 814 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in Knowles by 7.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 12,250 shares of the communications equipment provider’s stock valued at $256,000 after purchasing an additional 819 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Knowles by 1.0% in the second quarter. Great West Life Assurance Co. Can now owns 79,905 shares of the communications equipment provider’s stock valued at $1,577,000 after purchasing an additional 824 shares in the last quarter.

About Knowles

Knowles Corp. supplies advanced micro-acoustic, audio processing and precision device solutions. It operates through the following segments: Audio and Precision Devices. The Audio segment includes analog and digital micro-electro-mechanical systems microphones, electret condenser microphones, smart microphones, ultrasonic sensors, acoustic processors and balanced armature speakers.

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