Knowles (NYSE:KN) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Knowles (NYSE:KN) released its quarterly earnings data on Thursday. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06, Briefing.com reports. Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%. The company had revenue of $142.50 million during the quarter, compared to analysts’ expectations of $140.97 million. During the same period in the previous year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. Knowles updated its Q4 guidance to $0.26-0.30 EPS.

Knowles Stock Up 2.6 %

Shares of Knowles stock traded up $0.44 on Friday, reaching $17.66. The stock had a trading volume of 661,067 shares, compared to its average volume of 557,681. Knowles has a 1 year low of $12.78 and a 1 year high of $19.73. The company has a 50 day moving average price of $17.59 and a 200 day moving average price of $17.36. The company has a quick ratio of 1.30, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.56 billion, a P/E ratio of -8.14 and a beta of 1.42.

Insider Buying and Selling at Knowles

In related news, CFO John S. Anderson sold 10,444 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $18.50, for a total transaction of $193,214.00. Following the transaction, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Knowles news, Director Keith Barnes sold 6,725 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $17.88, for a total value of $120,243.00. Following the completion of the transaction, the director now owns 86,192 shares of the company’s stock, valued at approximately $1,541,112.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John S. Anderson sold 10,444 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $18.50, for a total transaction of $193,214.00. Following the sale, the chief financial officer now directly owns 211,200 shares in the company, valued at $3,907,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,748 shares of company stock worth $530,948 over the last three months. Corporate insiders own 2.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on KN shares. StockNews.com cut Knowles from a “buy” rating to a “hold” rating in a research note on Saturday. Susquehanna dropped their target price on shares of Knowles from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Craig Hallum upgraded shares of Knowles to a “strong-buy” rating in a report on Wednesday, October 16th.

About Knowles

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).