Knife River (NYSE:KNF) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Knife River (NYSE:KNF) released its earnings results on Tuesday. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15, FiscalAI reports. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The firm had revenue of $755.10 million during the quarter, compared to analysts’ expectations of $726.60 million. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis.

Knife River Stock Up 15.7%

Shares of KNF traded up $12.69 during trading hours on Tuesday, reaching $93.46. 368,218 shares of the stock traded hands, compared to its average volume of 569,049. Knife River has a 52 week low of $58.72 and a 52 week high of $105.23. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 1.36 and a beta of 0.47. The stock has a fifty day simple moving average of $75.64 and a 200 day simple moving average of $75.33. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Knife River by 57.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock worth $124,821,000 after buying an additional 648,979 shares during the period. Ameriprise Financial Inc. grew its holdings in Knife River by 30.1% in the second quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after purchasing an additional 182,462 shares during the period. Raymond James Financial Inc. raised its position in shares of Knife River by 71.0% in the 2nd quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock worth $28,971,000 after purchasing an additional 147,387 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Knife River by 11.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,391,662 shares of the company’s stock worth $97,909,000 after purchasing an additional 144,176 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Knife River in the 4th quarter worth about $8,168,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KNF shares. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research report on Thursday, January 22nd. JPMorgan Chase & Co. started coverage on Knife River in a research note on Thursday, December 4th. They issued a “neutral” rating and a $83.00 price target on the stock. Royal Bank Of Canada cut their price target on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. UBS Group upgraded shares of Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of Knife River from a “hold” rating to a “sell” rating in a report on Sunday. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.67.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.