Knowles Corporation (KN) Issues Q3 Earnings Guidance

Knowles Corporation (NYSE:KN) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.23-0.29 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.33. The company issued revenue guidance of $205-235 million, compared to the consensus revenue estimate of $243.07 million.

Knowles Corporation (NYSE:KN) traded down 1.87% during mid-day trading on Friday, reaching $14.71. 1,177,725 shares of the company were exchanged. The stock’s market capitalization is $1.32 billion. Knowles Corporation has a 12-month low of $13.32 and a 12-month high of $19.90. The company’s 50 day moving average price is $16.19 and its 200-day moving average price is $17.80.

Knowles Corporation (NYSE:KN) last released its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. The firm had revenue of $190.20 million for the quarter, compared to analyst estimates of $190.24 million. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that Knowles Corporation will post $0.95 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on KN shares. Zacks Investment Research lowered shares of Knowles Corporation from a hold rating to a sell rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Knowles Corporation from a hold rating to a sell rating in a report on Saturday, July 8th. Finally, Dougherty & Co started coverage on shares of Knowles Corporation in a report on Thursday, June 8th. They set a buy rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Knowles Corporation presently has an average rating of Hold and an average target price of $18.33.

In other Knowles Corporation news, insider Michael S. Polacek bought 3,246 shares of Knowles Corporation stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $15.40 per share, with a total value of $49,988.40. Following the acquisition, the insider now directly owns 42,866 shares of the company’s stock, valued at approximately $660,136.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

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About Knowles Corporation

Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).

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