Knife River (NYSE:KNF) Issues Earnings Results, Beats Estimates By $0.02 EPS

Knife River (NYSE:KNF) announced its earnings results on Tuesday. The company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.02, FiscalAI reports. The firm had revenue of $410.10 million during the quarter, compared to analyst estimates of $387.06 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.21) EPS.

Knife River Stock Performance

Shares of KNF stock traded down $3.09 on Tuesday, reaching $87.22. The stock had a trading volume of 86,806 shares, compared to its average volume of 604,457. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average is $84.50 and its two-hundred day moving average is $77.17. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 2.09 and a beta of 0.55. Knife River has a 12 month low of $58.72 and a 12 month high of $103.18.

Institutional Investors Weigh In On Knife River

Institutional investors and hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its holdings in shares of Knife River by 6.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company’s stock valued at $285,000 after purchasing an additional 220 shares during the period. Inceptionr LLC bought a new stake in shares of Knife River in the 4th quarter valued at about $284,000. Entropy Technologies LP bought a new stake in shares of Knife River in the 4th quarter valued at about $273,000. Cibc World Markets Corp bought a new stake in shares of Knife River in the 4th quarter valued at about $266,000. Finally, Magnetar Financial LLC bought a new stake in shares of Knife River in the 4th quarter valued at about $236,000. 80.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson upped their target price on shares of Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Knife River from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. B. Riley Financial assumed coverage on shares of Knife River in a research note on Thursday, January 15th. They issued a “buy” rating and a $92.00 target price for the company. Finally, Royal Bank Of Canada upped their target price on shares of Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.29.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.