KEMET Co. (NYSE:KEM) Expected to Announce Earnings of $0.66 Per Share

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.

About KEMET

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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Earnings History and Estimates for KEMET (NYSE:KEM)

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