Knowles Co. Expected to Post FY2020 Earnings of $0.46 Per Share (NYSE:KN)


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Knowles Co. (NYSE:KN) – Stock analysts at Piper Sandler lifted their FY2020 earnings per share estimates for shares of Knowles in a research note issued on Monday, January 11th. Piper Sandler analyst H. Kumar now forecasts that the communications equipment provider will post earnings of $0.46 per share for the year, up from their previous estimate of $0.38. Piper Sandler also issued estimates for Knowles’ Q4 2020 earnings at $0.33 EPS, Q1 2021 earnings at $0.21 EPS, Q2 2021 earnings at $0.14 EPS and Q3 2021 earnings at $0.29 EPS.

Knowles (NYSE:KN) last issued its quarterly earnings results on Thursday, October 29th. The communications equipment provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $205.80 million during the quarter, compared to analysts’ expectations of $202.27 million. Knowles had a positive return on equity of 3.41% and a negative net margin of 0.33%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share.

Several other brokerages have also recently weighed in on KN. Zacks Investment Research raised Knowles from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Wednesday. BidaskClub raised Knowles from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. ValuEngine raised Knowles from a “hold” rating to a “buy” rating in a research note on Monday, October 12th. Lake Street Capital raised their target price on Knowles from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, Roth Capital raised their target price on Knowles from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.67.

Shares of KN stock opened at $18.97 on Thursday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -474.13, a PEG ratio of 4.54 and a beta of 1.44. The stock has a 50-day moving average of $18.01 and a 200-day moving average of $16.08. The company has a current ratio of 3.15, a quick ratio of 1.99 and a debt-to-equity ratio of 0.17. Knowles has a 1-year low of $11.10 and a 1-year high of $21.25.

In related news, Director Donald Macleod bought 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were bought at an average price of $14.80 per share, for a total transaction of $148,000.00. Following the completion of the acquisition, the director now directly owns 110,549 shares of the company’s stock, valued at $1,636,125.20. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Niew bought 3,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was bought at an average price of $15.00 per share, for a total transaction of $45,000.00. Following the acquisition, the chief executive officer now directly owns 323,914 shares of the company’s stock, valued at $4,858,710. The disclosure for this purchase can be found here. 4.48% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of KN. Marshall Wace North America L.P. bought a new stake in Knowles during the first quarter worth $25,000. Advisor Group Holdings Inc. increased its position in Knowles by 5.7% in the second quarter. Advisor Group Holdings Inc. now owns 21,834 shares of the communications equipment provider’s stock worth $335,000 after buying an additional 1,184 shares during the last quarter. Stifel Financial Corp increased its position in Knowles by 36.3% in the second quarter. Stifel Financial Corp now owns 40,612 shares of the communications equipment provider’s stock worth $619,000 after buying an additional 10,821 shares during the last quarter. Tudor Investment Corp Et Al increased its position in Knowles by 115.6% in the second quarter. Tudor Investment Corp Et Al now owns 23,616 shares of the communications equipment provider’s stock worth $360,000 after buying an additional 12,660 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Knowles by 113.1% in the second quarter. Bank of America Corp DE now owns 1,188,914 shares of the communications equipment provider’s stock worth $18,143,000 after buying an additional 630,950 shares during the last quarter. Institutional investors and hedge funds own 91.47% of the company’s stock.

Knowles Company Profile

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medtech, defense, automotive, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.

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