Knowles (NYSE:KN) Releases Q3 2024 Earnings Guidance

Knowles (NYSE:KN) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.290-0.330 for the period, compared to the consensus earnings per share estimate of 0.310. The company issued revenue guidance of $210.0 million-$220.0 million, compared to the consensus revenue estimate of $214.1 million. Knowles also updated its Q3 guidance to $0.29 to $0.33 EPS.

Knowles Trading Up 1.8 %

Shares of NYSE:KN traded up $0.33 during trading on Wednesday, reaching $18.27. 684,215 shares of the stock were exchanged, compared to its average volume of 538,965. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.55 and a current ratio of 2.75. Knowles has a 12-month low of $12.78 and a 12-month high of $19.73. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 20.76 and a beta of 1.42. The firm’s 50-day moving average price is $17.71 and its 200 day moving average price is $16.81.

Knowles (NYSE:KN) last issued its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Knowles had a return on equity of 5.98% and a net margin of 10.54%. The firm had revenue of $196.40 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Susquehanna upped their price target on Knowles from $15.00 to $20.00 and gave the stock a neutral rating in a report on Wednesday, July 17th.

Insiders Place Their Bets

In other Knowles news, Director Keith Barnes sold 5,186 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $17.45, for a total value of $90,495.70. Following the transaction, the director now directly owns 92,917 shares of the company’s stock, valued at approximately $1,621,401.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.65% of the stock is owned by company insiders.

Knowles Company Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).