Knowles (NYSE:KN) Shares Gap Down After Earnings Miss

Knowles Co. (NYSE:KN) shares gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $18.25, but opened at $16.70. Knowles shares last traded at $17.52, with a volume of 281,514 shares traded.

The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Knowles had a positive return on equity of 5.16% and a negative net margin of 27.53%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Susquehanna decreased their target price on shares of Knowles from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Craig Hallum cut Knowles from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research note on Friday. Finally, StockNews.com lowered Knowles from a “buy” rating to a “hold” rating in a report on Saturday, October 26th.

Hedge Funds Weigh In On Knowles

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its position in shares of Knowles by 114.6% in the 3rd quarter. Blue Trust Inc. now owns 2,002 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 1,069 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Knowles by 46.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the communications equipment provider’s stock worth $42,000 after acquiring an additional 669 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Knowles by 37.6% during the third quarter. GAMMA Investing LLC now owns 2,445 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 668 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Knowles during the 3rd quarter valued at $52,000. Finally, Sterling Capital Management LLC increased its position in shares of Knowles by 835.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 2,448 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Knowles Stock Down 3.2 %

The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -7.52 and a beta of 1.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.35 and a quick ratio of 1.67. The stock’s fifty day simple moving average is $19.58 and its two-hundred day simple moving average is $18.48.

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).