Knowles Corporation (NYSE:KN) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.23-0.29 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.33. The company issued revenue guidance of $205-235 million, compared to the consensus revenue estimate of $243.07 million.
Shares of Knowles Corporation (NYSE KN) traded down 5.39% on Thursday, hitting $15.46. 3,398,838 shares of the stock traded hands. The stock has a 50-day moving average price of $17.05 and a 200 day moving average price of $17.97. The firm’s market cap is $1.38 billion. Knowles Corporation has a 52 week low of $12.82 and a 52 week high of $19.90.
Knowles Corporation (NYSE:KN) last posted its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Knowles Corporation had a negative net margin of 1.86% and a positive return on equity of 6.69%. The company had revenue of $190.20 million during the quarter, compared to the consensus estimate of $190.24 million. During the same period in the previous year, the firm posted $0.13 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that Knowles Corporation will post $0.99 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. Dougherty & Co assumed coverage on shares of Knowles Corporation in a report on Thursday, June 8th. They set a buy rating and a $22.00 price objective for the company. BidaskClub cut shares of Knowles Corporation from a buy rating to a hold rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut shares of Knowles Corporation from a buy rating to a hold rating in a research report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $18.33.
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About Knowles Corporation
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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