Zacks: Analysts Expect KEMET Co. (KEM) Will Post Quarterly Sales of $353.36 Million
Brokerages expect KEMET Co. (NYSE:KEM) to report $353.36 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for KEMET’s earnings, with the lowest sales estimate coming in at $350.00 million and the highest estimate coming in at $355.59 million. KEMET posted sales of $306.41 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The company is scheduled to report its next quarterly earnings results on Thursday, February 7th.
On average, analysts expect that KEMET will report full year sales of $1.39 billion for the current year, with estimates ranging from $1.38 billion to $1.39 billion. For the next year, analysts expect that the company will post sales of $1.49 billion, with estimates ranging from $1.46 billion to $1.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for KEMET.
KEMET (NYSE:KEM) last released its quarterly earnings data on Tuesday, October 30th. The electronics maker reported $0.87 EPS for the quarter, topping the consensus estimate of $0.60 by $0.27. KEMET had a return on equity of 27.21% and a net margin of 7.18%. The company had revenue of $349.20 million for the quarter, compared to the consensus estimate of $335.56 million. During the same period last year, the business posted $0.45 EPS. KEMET’s quarterly revenue was up 15.8% on a year-over-year basis.
Shares of NYSE:KEM traded down $1.00 on Monday, reaching $21.74. The company had a trading volume of 1,869,979 shares, compared to its average volume of 1,550,643. KEMET has a 52-week low of $13.73 and a 52-week high of $29.85. The company has a market capitalization of $1.30 billion, a PE ratio of 13.42 and a beta of 3.03. The company has a current ratio of 2.60, a quick ratio of 1.77 and a debt-to-equity ratio of 0.58.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Friday, November 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.92%.
In other news, SVP Ronald James Assaf sold 3,333 shares of KEMET stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $18.40, for a total value of $61,327.20. Following the transaction, the senior vice president now directly owns 86,722 shares in the company, valued at approximately $1,595,684.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Per Olof Loof sold 10,000 shares of KEMET stock in a transaction on Friday, August 24th. The shares were sold at an average price of $25.40, for a total value of $254,000.00. Following the completion of the transaction, the chief executive officer now owns 888,992 shares in the company, valued at $22,580,396.80. The disclosure for this sale can be found here. Insiders sold a total of 19,999 shares of company stock worth $471,612 over the last quarter. Company insiders own 2.95% of the company’s stock.
Several large investors have recently made changes to their positions in KEM. Canada Pension Plan Investment Board boosted its position in shares of KEMET by 74.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,300 shares of the electronics maker’s stock worth $191,000 after purchasing an additional 4,400 shares in the last quarter. Affinity Investment Advisors LLC boosted its position in shares of KEMET by 18.9% in the 3rd quarter. Affinity Investment Advisors LLC now owns 23,547 shares of the electronics maker’s stock worth $437,000 after purchasing an additional 3,737 shares in the last quarter. Globeflex Capital L P boosted its position in shares of KEMET by 6.1% in the 3rd quarter. Globeflex Capital L P now owns 80,563 shares of the electronics maker’s stock worth $1,494,000 after purchasing an additional 4,610 shares in the last quarter. BlackRock Inc. boosted its position in shares of KEMET by 15.5% in the 3rd quarter. BlackRock Inc. now owns 8,173,112 shares of the electronics maker’s stock worth $151,612,000 after purchasing an additional 1,096,341 shares in the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of KEMET by 55.7% in the 3rd quarter. Martingale Asset Management L P now owns 67,652 shares of the electronics maker’s stock worth $1,255,000 after purchasing an additional 24,188 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.
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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