Kimball Electronics (NASDAQ:KE) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Kimball Electronics (NASDAQ:KE) announced its quarterly earnings data on Tuesday. The electronics maker reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01), FiscalAI reports. The firm had revenue of $352.92 million for the quarter, compared to the consensus estimate of $356.27 million. Kimball Electronics had a return on equity of 6.09% and a net margin of 1.65%.

Kimball Electronics Trading Down 4.8%

NASDAQ KE traded down $1.29 on Wednesday, hitting $25.86. The company’s stock had a trading volume of 47,682 shares, compared to its average volume of 154,473. The firm has a market cap of $626.07 million, a P/E ratio of 26.42, a PEG ratio of 0.98 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.31 and a debt-to-equity ratio of 0.22. The company’s 50-day simple moving average is $25.03 and its 200 day simple moving average is $27.34. Kimball Electronics has a 52-week low of $16.33 and a 52-week high of $33.19.

Institutional Trading of Kimball Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in Kimball Electronics by 0.7% during the fourth quarter. Barclays PLC now owns 69,334 shares of the electronics maker’s stock valued at $1,929,000 after purchasing an additional 498 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Kimball Electronics by 0.9% during the 2nd quarter. Lazard Asset Management LLC now owns 63,912 shares of the electronics maker’s stock valued at $1,229,000 after purchasing an additional 561 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Kimball Electronics by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker’s stock worth $242,000 after purchasing an additional 624 shares during the period. California State Teachers Retirement System boosted its stake in shares of Kimball Electronics by 99.7% during the 4th quarter. California State Teachers Retirement System now owns 1,498 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 748 shares in the last quarter. Finally, Quarry LP purchased a new position in Kimball Electronics in the 3rd quarter worth approximately $28,000. Institutional investors own 75.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KE. Wall Street Zen lowered Kimball Electronics from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Zacks Research lowered Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kimball Electronics in a research report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.00.

Kimball Electronics Company Profile

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.