Wall Street analysts forecast that KEMET Co. (NYSE:KEM) will announce earnings of $0.66 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for KEMET’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.64. KEMET reported earnings per share of $0.87 during the same quarter last year, which would suggest a negative year over year growth rate of 24.1%. The firm is scheduled to report its next earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that KEMET will report full-year earnings of $2.79 per share for the current year, with EPS estimates ranging from $2.68 to $2.87. For the next financial year, analysts forecast that the firm will post earnings of $2.88 per share, with EPS estimates ranging from $2.70 to $3.00. Zacks’ EPS averages are an average based on a survey of analysts that cover KEMET.
KEMET (NYSE:KEM) last issued its quarterly earnings results on Thursday, August 1st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. KEMET had a return on equity of 36.26% and a net margin of 15.12%. The firm had revenue of $345.20 million for the quarter, compared to analyst estimates of $343.72 million. During the same period last year, the company earned $0.55 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis.
A number of brokerages have issued reports on KEM. B. Riley raised their price target on KEMET from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research lowered KEMET from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine lowered KEMET from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised KEMET from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Friday, September 13th.
NYSE:KEM traded up $0.73 during mid-day trading on Friday, reaching $20.65. The company’s stock had a trading volume of 1,473,271 shares, compared to its average volume of 1,203,620. The company’s fifty day simple moving average is $18.42 and its two-hundred day simple moving average is $18.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.49 and a quick ratio of 1.55. KEMET has a twelve month low of $15.55 and a twelve month high of $23.13. The stock has a market cap of $1.16 billion, a P/E ratio of 6.13 and a beta of 2.56.
In other news, SVP Ronald James Assaf sold 3,334 shares of KEMET stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.90, for a total value of $73,014.60. Following the transaction, the senior vice president now directly owns 57,743 shares of the company’s stock, valued at approximately $1,264,571.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shignori Oyama sold 22,500 shares of KEMET stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $17.71, for a total value of $398,475.00. Following the completion of the transaction, the vice president now directly owns 117,070 shares in the company, valued at $2,073,309.70. The disclosure for this sale can be found here. Insiders own 1.76% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in KEMET by 1.2% during the 2nd quarter. BlackRock Inc. now owns 8,388,424 shares of the electronics maker’s stock worth $157,786,000 after acquiring an additional 97,450 shares in the last quarter. Vanguard Group Inc. lifted its position in KEMET by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,628,077 shares of the electronics maker’s stock worth $68,244,000 after acquiring an additional 13,300 shares in the last quarter. Bank of New York Mellon Corp lifted its position in KEMET by 31.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,188,526 shares of the electronics maker’s stock worth $41,166,000 after acquiring an additional 525,793 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in KEMET during the 2nd quarter worth approximately $19,241,000. Finally, Raging Capital Management LLC acquired a new position in KEMET during the 2nd quarter worth approximately $17,818,000. 80.23% of the stock is currently owned by institutional investors and hedge funds.
KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.
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