Brokerages predict that Kornit Digital Ltd (NASDAQ:KRNT) will announce earnings per share of $0.16 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kornit Digital’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.18. Kornit Digital posted earnings of $0.13 per share in the same quarter last year, which indicates a positive year over year growth rate of 23.1%. The firm is expected to issue its next earnings report on Monday, November 11th.
On average, analysts expect that Kornit Digital will report full-year earnings of $0.43 per share for the current year. For the next year, analysts forecast that the company will post earnings of $0.84 per share, with EPS estimates ranging from $0.82 to $0.85. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Kornit Digital.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $43.89 million during the quarter, compared to analysts’ expectations of $45.91 million. Kornit Digital had a net margin of 5.69% and a return on equity of 3.04%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS.
KRNT has been the subject of a number of research reports. TheStreet upgraded Kornit Digital from a “c+” rating to a “b” rating in a report on Wednesday, August 7th. BidaskClub upgraded Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Zacks Investment Research upgraded Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of Kornit Digital in a report on Tuesday, June 18th. Finally, Stifel Nicolaus set a $35.00 price target on Kornit Digital and gave the company a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $28.00.
Shares of NASDAQ KRNT opened at $29.72 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.35 and a current ratio of 7.23. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 158.17 and a beta of 1.09. The stock has a 50 day moving average price of $28.88 and a 200 day moving average price of $27.18. Kornit Digital has a 52-week low of $16.10 and a 52-week high of $32.20.
Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Kornit Digital in the second quarter worth approximately $103,000. DekaBank Deutsche Girozentrale bought a new position in Kornit Digital in the first quarter worth approximately $165,000. HCR Wealth Advisors bought a new position in Kornit Digital in the second quarter worth approximately $1,048,000. Legal & General Group Plc raised its stake in Kornit Digital by 70.7% in the fourth quarter. Legal & General Group Plc now owns 2,296 shares of the industrial products company’s stock worth $43,000 after buying an additional 951 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. raised its stake in Kornit Digital by 27.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 19,576 shares of the industrial products company’s stock worth $620,000 after buying an additional 4,156 shares in the last quarter. 92.81% of the stock is owned by institutional investors.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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