$501.40 Million in Sales Expected for Kraton Corp (NYSE:KRA) This Quarter
Wall Street brokerages expect Kraton Corp (NYSE:KRA) to post sales of $501.40 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Kraton’s earnings, with estimates ranging from $493.00 million to $509.80 million. Kraton posted sales of $523.11 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.2%. The company is scheduled to report its next earnings report on Wednesday, October 23rd.
According to Zacks, analysts expect that Kraton will report full-year sales of $1.91 billion for the current financial year, with estimates ranging from $1.89 billion to $1.92 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.99 billion, with estimates ranging from $1.98 billion to $2.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Kraton.
Kraton (NYSE:KRA) last posted its quarterly earnings data on Wednesday, July 24th. The specialty chemicals company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.49. The business had revenue of $495.28 million for the quarter, compared to analysts’ expectations of $539.35 million. Kraton had a return on equity of 17.62% and a net margin of 5.92%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share.
Shares of KRA traded down $0.11 during mid-day trading on Friday, hitting $26.00. The stock had a trading volume of 144,220 shares, compared to its average volume of 226,754. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.82 and a current ratio of 1.89. Kraton has a 52 week low of $19.13 and a 52 week high of $50.20. The company has a market capitalization of $864.95 million, a price-to-earnings ratio of 8.23 and a beta of 2.31. The stock’s fifty day moving average price is $29.87.
In other news, SVP Holger R. Jung sold 13,102 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $30.75, for a total value of $402,886.50. Following the completion of the transaction, the senior vice president now owns 43,738 shares of the company’s stock, valued at approximately $1,344,943.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Holger R. Jung sold 6,640 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $31.04, for a total value of $206,105.60. Following the completion of the transaction, the senior vice president now directly owns 43,738 shares of the company’s stock, valued at approximately $1,357,627.52. The disclosure for this sale can be found here. Company insiders own 3.32% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC bought a new stake in Kraton during the second quarter valued at about $6,166,000. UBS Asset Management Americas Inc. raised its holdings in Kraton by 10.1% during the second quarter. UBS Asset Management Americas Inc. now owns 20,403 shares of the specialty chemicals company’s stock valued at $634,000 after acquiring an additional 1,874 shares during the period. Jefferies Group LLC bought a new stake in Kraton during the second quarter valued at about $931,000. Morgan Stanley raised its holdings in Kraton by 94.4% during the second quarter. Morgan Stanley now owns 298,618 shares of the specialty chemicals company’s stock valued at $9,278,000 after acquiring an additional 145,015 shares during the period. Finally, Bank of America Corp DE raised its holdings in Kraton by 29.4% during the second quarter. Bank of America Corp DE now owns 139,176 shares of the specialty chemicals company’s stock valued at $4,323,000 after acquiring an additional 31,591 shares during the period. 96.51% of the stock is owned by institutional investors.
Kraton Corporation manufactures and sells styrenic block copolymers and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Polymer and Chemical. The Polymer segment offers performance products, including styrene-butadiene-styrene and styrene-isoprene-styrene; and specialty polymers, such as hydrogenated styrenic block copolymers, as well as isoprene rubber and isoprene rubber latex for use in medical and personal care products, adhesives, tackifiers, paints, and coatings.
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