$278.65 Million in Sales Expected for Knoll Inc (KNL) This Quarter
Wall Street brokerages forecast that Knoll Inc (NYSE:KNL) will report sales of $278.65 million for the current quarter, according to Zacks. Two analysts have provided estimates for Knoll’s earnings, with the highest sales estimate coming in at $279.10 million and the lowest estimate coming in at $278.20 million. Knoll posted sales of $292.10 million in the same quarter last year, which suggests a negative year-over-year growth rate of 4.6%. The company is expected to issue its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Knoll will report full-year sales of $278.65 million for the current fiscal year, with estimates ranging from $1.10 billion to $1.12 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.17 billion per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Knoll.
Knoll (NYSE:KNL) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.08). The business had revenue of $268.70 million during the quarter, compared to analyst estimates of $284.65 million. Knoll had a return on equity of 16.45% and a net margin of 4.82%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS.
A number of analysts recently issued reports on the company. ValuEngine cut Knoll from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Knoll from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, June 21st. TheStreet cut Knoll from a “b-” rating to a “c+” rating in a research note on Thursday, September 7th. Sidoti assumed coverage on Knoll in a research note on Wednesday, August 16th. They set a “buy” rating and a $28.00 target price for the company. Finally, Raymond James Financial, Inc. raised Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Knoll currently has an average rating of “Buy” and an average price target of $24.50.
Shares of Knoll (NYSE:KNL) traded up 0.69% during trading on Wednesday, hitting $18.90. 153,895 shares of the stock traded hands. Knoll has a 1-year low of $16.57 and a 1-year high of $28.40. The company has a market cap of $916.05 million, a PE ratio of 13.04 and a beta of 0.99. The company has a 50 day moving average of $18.20 and a 200-day moving average of $21.05.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.20%. Knoll’s payout ratio is 41.38%.
In other Knoll news, Director Benjamin A. Pardo sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $19.45, for a total transaction of $42,790.00. Following the completion of the transaction, the director now owns 23,773 shares of the company’s stock, valued at approximately $462,384.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA boosted its position in Knoll by 71.7% during the 2nd quarter. Federated Investors Inc. PA now owns 111,974 shares of the business services provider’s stock worth $2,245,000 after acquiring an additional 46,749 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Knoll during the 1st quarter worth approximately $2,205,000. Macquarie Group Ltd. boosted its position in Knoll by 8.9% during the 1st quarter. Macquarie Group Ltd. now owns 1,343,071 shares of the business services provider’s stock worth $31,979,000 after acquiring an additional 109,211 shares during the last quarter. Swiss National Bank boosted its position in Knoll by 2.1% during the 1st quarter. Swiss National Bank now owns 81,200 shares of the business services provider’s stock worth $1,933,000 after acquiring an additional 1,700 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Knoll during the 1st quarter worth approximately $12,294,000. 90.68% of the stock is owned by hedge funds and other institutional investors.
Knoll, Inc is a manufacturer of commercial and residential furniture, accessories and coverings. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes a range of workplace products that address workplace planning paradigms. These products include systems furniture, seating, storage, tables, desks and KnollExtra accessories, as well as the international sales of its North American Office products.
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