$0.11 Earnings Per Share Expected for Kornit Digital Ltd (KRNT) This Quarter

Wall Street analysts forecast that Kornit Digital Ltd (NASDAQ:KRNT) will post earnings of $0.11 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kornit Digital’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.12. Kornit Digital posted earnings of $0.05 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 120%. The business is expected to issue its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Kornit Digital will report full-year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.34 to $0.44. For the next financial year, analysts expect that the business will report earnings of $0.66 per share, with EPS estimates ranging from $0.65 to $0.66. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $35.26 million. Kornit Digital had a net margin of 1.47% and a return on equity of 2.69%. Kornit Digital’s revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share.

A number of research firms have recently commented on KRNT. BidaskClub cut shares of Kornit Digital from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Citigroup began coverage on shares of Kornit Digital in a research report on Wednesday, July 18th. They set a “neutral” rating and a $20.00 target price on the stock. ValuEngine raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 18th. Finally, Barclays reissued a “buy” rating and set a $22.00 target price on shares of Kornit Digital in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.67.

KRNT stock traded up $0.10 during midday trading on Thursday, reaching $18.55. 217,301 shares of the company’s stock traded hands, compared to its average volume of 278,266. The stock has a market cap of $648.40 million, a price-to-earnings ratio of 157.50 and a beta of 0.30. Kornit Digital has a fifty-two week low of $11.70 and a fifty-two week high of $20.00.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ETF Managers Group LLC lifted its position in shares of Kornit Digital by 20.0% during the first quarter. ETF Managers Group LLC now owns 20,666 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 3,444 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Kornit Digital by 35.9% during the first quarter. Citadel Advisors LLC now owns 15,647 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 4,137 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Kornit Digital by 65.5% during the first quarter. Wells Fargo & Company MN now owns 14,146 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 5,600 shares in the last quarter. Northern Trust Corp increased its stake in shares of Kornit Digital by 6.3% in the first quarter. Northern Trust Corp now owns 96,463 shares of the industrial products company’s stock worth $1,245,000 after buying an additional 5,754 shares during the last quarter. Finally, West Chester Capital Advisors Inc. bought a new stake in shares of Kornit Digital in the second quarter worth $178,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

About Kornit Digital

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

Further Reading: Price to Earnings Ratio (PE) Basics

Get a free copy of the Zacks research report on Kornit Digital (KRNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Kornit Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply