Knowles (NYSE:KN) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Knowles (NYSE:KN) announced its quarterly earnings data on Thursday. The communications equipment provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01, FiscalAI reports. Knowles had a return on equity of 8.98% and a net margin of 7.27%.The company had revenue of $162.20 million for the quarter, compared to analyst estimates of $156.23 million.

Knowles Trading Up 1.6%

Shares of Knowles stock traded up $0.39 during mid-day trading on Thursday, hitting $24.71. The stock had a trading volume of 641,707 shares, compared to its average volume of 678,187. The firm has a 50-day moving average of $23.17 and a two-hundred day moving average of $22.35. The firm has a market cap of $2.10 billion, a P/E ratio of 51.49 and a beta of 1.52. The company has a quick ratio of 1.19, a current ratio of 1.90 and a debt-to-equity ratio of 0.14. Knowles has a 12-month low of $12.19 and a 12-month high of $25.57.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KN shares. Craig Hallum set a $28.00 price target on shares of Knowles and gave the stock a “buy” rating in a research note on Friday, October 24th. Zacks Research upgraded shares of Knowles to a “hold” rating in a report on Friday, December 19th. Susquehanna raised their target price on shares of Knowles from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Robert W. Baird set a $30.00 price target on Knowles in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knowles in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.00.

Insider Buying and Selling

In related news, CEO Jeffrey Niew sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $24.75, for a total value of $1,237,500.00. Following the transaction, the chief executive officer directly owned 839,370 shares in the company, valued at approximately $20,774,407.50. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 125,000 shares of company stock valued at $3,062,500 in the last 90 days. Corporate insiders own 2.54% of the company’s stock.

Institutional Investors Weigh In On Knowles

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. acquired a new position in shares of Knowles in the 3rd quarter valued at $212,000. CANADA LIFE ASSURANCE Co raised its holdings in Knowles by 4.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 99,035 shares of the communications equipment provider’s stock valued at $2,303,000 after buying an additional 4,175 shares during the period. Caxton Associates LLP acquired a new position in Knowles in the third quarter valued at about $661,000. Virtus Advisers LLC acquired a new position in Knowles in the third quarter valued at about $501,000. Finally, Susquehanna International Group LLP boosted its stake in Knowles by 4.4% during the third quarter. Susquehanna International Group LLP now owns 141,822 shares of the communications equipment provider’s stock worth $3,306,000 after buying an additional 5,993 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

About Knowles

Knowles Corporation (NYSE: KN) is a leading developer and manufacturer of advanced micro-acoustic, audio processing and precision device solutions. The company’s product portfolio includes microelectromechanical systems (MEMS) microphones, balanced armature receivers, acoustic filters, and custom audio processing integrated circuits. These solutions are designed to enable clear speech, enhanced voice capture and intelligent audio performance in a variety of end markets.

Founded in 1946, Knowles has evolved from its roots in vacuum tube components to become a pure-play audio technology provider following its spin-off from Dover Corporation in 2014.