Zacks: Analysts Expect Kornit Digital Ltd. (KRNT) to Post $0.14 Earnings Per Share

Wall Street analysts predict that Kornit Digital Ltd. (NASDAQ:KRNT) will announce earnings per share of $0.14 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Kornit Digital’s earnings. The highest EPS estimate is $0.15 and the lowest is $0.13. Kornit Digital posted earnings per share of $0.11 in the same quarter last year, which indicates a positive year over year growth rate of 27.3%. The firm is expected to report its next earnings results on Wednesday, November 8th.

On average, analysts expect that Kornit Digital will report full year earnings of $0.40 per share for the current financial year, with EPS estimates ranging from $0.37 to $0.43. For the next fiscal year, analysts expect that the firm will post earnings of $0.65 per share, with EPS estimates ranging from $0.60 to $0.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $28.59 million for the quarter, compared to analyst estimates of $29.81 million. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 earnings per share.

A number of research firms recently commented on KRNT. BidaskClub cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 price target on shares of Kornit Digital in a report on Tuesday, August 8th. Zacks Investment Research raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Craig Hallum began coverage on shares of Kornit Digital in a report on Tuesday, July 11th. They issued a “buy” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Kornit Digital currently has an average rating of “Buy” and a consensus target price of $21.86.

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A number of hedge funds have recently modified their holdings of KRNT. Public Employees Retirement Association of Colorado bought a new stake in Kornit Digital during the 2nd quarter valued at $101,000. Cowen Prime Services LLC grew its position in shares of Kornit Digital by 104.8% during the 2nd quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 3,100 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Kornit Digital by 49.4% during the 2nd quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 2,583 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Kornit Digital by 1,540.0% during the 2nd quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 7,700 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Kornit Digital by 104.3% during the 1st quarter. Sei Investments Co. now owns 9,111 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 4,652 shares in the last quarter. 73.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of Kornit Digital (NASDAQ:KRNT) traded up 4.52% during trading on Friday, hitting $17.92. The stock had a trading volume of 234,286 shares. The company’s 50 day moving average price is $17.26 and its 200 day moving average price is $16.57. The company’s market capitalization is $604.70 million. Kornit Digital has a 52 week low of $8.90 and a 52 week high of $18.50.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

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