Knowles (NYSE:KN) Posts Earnings Results, Beats Expectations By $0.01 EPS

Knowles (NYSE:KN) released its earnings results on Thursday. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $162.20 million for the quarter, compared to the consensus estimate of $156.23 million.

Knowles Stock Performance

NYSE KN traded up $0.39 during mid-day trading on Thursday, reaching $24.71. 641,707 shares of the stock were exchanged, compared to its average volume of 678,187. The business’s 50 day moving average is $23.17 and its 200-day moving average is $22.35. Knowles has a 1 year low of $12.19 and a 1 year high of $25.57. The company has a market capitalization of $2.10 billion, a P/E ratio of 51.49 and a beta of 1.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.19 and a current ratio of 1.90.

Insiders Place Their Bets

In other Knowles news, CEO Jeffrey Niew sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $24.75, for a total value of $1,237,500.00. Following the completion of the transaction, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 125,000 shares of company stock valued at $3,062,500 over the last three months. 2.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knowles

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Knowles by 27.0% in the first quarter. Royal Bank of Canada now owns 70,073 shares of the communications equipment provider’s stock valued at $1,064,000 after purchasing an additional 14,900 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Knowles by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,722 shares of the communications equipment provider’s stock worth $786,000 after buying an additional 2,245 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Knowles by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,557 shares of the communications equipment provider’s stock worth $3,626,000 after buying an additional 15,827 shares in the last quarter. Jane Street Group LLC purchased a new stake in Knowles during the 1st quarter worth approximately $3,335,000. Finally, Norges Bank acquired a new position in shares of Knowles during the second quarter valued at approximately $1,255,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KN has been the topic of a number of recent research reports. Zacks Research upgraded Knowles to a “hold” rating in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of Knowles in a research note on Monday, December 29th. Susquehanna upped their price objective on shares of Knowles from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Craig Hallum set a $28.00 price objective on shares of Knowles and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, Robert W. Baird set a $30.00 target price on shares of Knowles in a report on Friday, October 24th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.00.

Knowles Company Profile

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.