Scotiabank Has Optimistic Outlook of Kinaxis FY2024 Earnings

Kinaxis Inc. (TSE:KXS) – Equities research analysts at Scotiabank raised their FY2024 earnings per share estimates for Kinaxis in a report issued on Wednesday, January 8th. Scotiabank analyst K. Krishnaratne now expects that the company will post earnings per share of $1.87 for the year, up from their previous estimate of $1.45. The consensus estimate for Kinaxis’ current full-year earnings is $4.25 per share. Scotiabank also issued estimates for Kinaxis’ FY2025 earnings at $2.86 EPS.

Kinaxis (TSE:KXS) last announced its quarterly earnings data on Wednesday, October 30th. The company reported C$0.47 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.43 by C$0.04. The company had revenue of C$165.79 million during the quarter, compared to analyst estimates of C$170.56 million. Kinaxis had a net margin of 4.59% and a return on equity of 4.87%.

KXS has been the topic of several other reports. TD Securities reduced their price objective on Kinaxis from C$195.00 to C$190.00 and set a “buy” rating on the stock in a report on Friday, November 1st. ATB Capital raised their price target on Kinaxis from C$205.00 to C$215.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$192.67.

Kinaxis Stock Performance

Kinaxis stock opened at C$170.99 on Friday. The company has a debt-to-equity ratio of 12.40, a quick ratio of 2.29 and a current ratio of 1.90. The company has a market capitalization of C$4.83 billion, a PE ratio of 170.99, a P/E/G ratio of 3.60 and a beta of 0.78. The company has a 50 day moving average price of C$174.04 and a 200-day moving average price of C$162.48. Kinaxis has a fifty-two week low of C$132.93 and a fifty-two week high of C$190.17.

Insider Buying and Selling

In other Kinaxis news, Senior Officer Andrew William Robert Bell sold 600 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$177.14, for a total value of C$106,281.00. Following the completion of the sale, the insider now directly owns 831 shares in the company, valued at C$147,199.19. This trade represents a 41.93 % decrease in their ownership of the stock. Also, Director John Ernest Sicard sold 24,147 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$167.91, for a total value of C$4,054,585.55. Insiders sold 55,200 shares of company stock worth $9,478,652 in the last three months. 1.20% of the stock is owned by insiders.

Kinaxis Company Profile

Kinaxis Inc provides cloud-based subscription software for supply chain operations in the United States, Europe, Asia, and Canada. It offers RapidResponse, a cloud-based platform, which provides advanced planning, sales and operation planning, supply and demand planning, inventory management, and command and control center services.