Knife River (NYSE:KNF) Posts Earnings Results

Knife River (NYSE:KNF) released its earnings results on Tuesday. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.04), Briefing.com reports. The business had revenue of $329.60 million for the quarter, compared to analysts’ expectations of $300.98 million. Knife River had a net margin of 6.46% and a return on equity of 15.98%. Knife River’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($516.50) earnings per share.

Knife River Stock Performance

Knife River stock traded down $2.48 during midday trading on Wednesday, reaching $76.40. 113,306 shares of the company traded hands, compared to its average volume of 379,990. The firm has a market capitalization of $4.33 billion and a price-to-earnings ratio of -0.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.63 and a quick ratio of 1.71. The business has a 50 day moving average of $77.91 and a two-hundred day moving average of $67.84. Knife River has a 12 month low of $33.67 and a 12 month high of $83.78.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KNF. Loop Capital began coverage on Knife River in a research note on Tuesday, February 13th. They set a “buy” rating and a $81.00 price objective for the company. Oppenheimer upped their price target on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Wolfe Research started coverage on shares of Knife River in a research note on Friday, March 8th. They set a “peer perform” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.20.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.