Knife River (NYSE:KNF) Issues Earnings Results

Knife River (NYSE:KNF) announced its earnings results on Monday. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22), RTT News reports. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 EPS. Knife River updated its FY 2024 guidance to EPS.

Knife River Trading Down 8.5 %

Shares of KNF stock opened at $89.23 on Tuesday. The stock’s 50-day moving average price is $87.36 and its 200-day moving average price is $78.76. Knife River has a 12-month low of $54.05 and a 12-month high of $99.54. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their price objective on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.60.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.