Wall Street brokerages forecast that KEMET Co. (NYSE:KEM) will announce sales of $306.72 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for KEMET’s earnings, with estimates ranging from $305.46 million to $307.70 million. KEMET posted sales of $197.52 million in the same quarter last year, which suggests a positive year over year growth rate of 55.3%. The business is expected to report its next earnings results on Wednesday, May 9th.
On average, analysts expect that KEMET will report full-year sales of $306.72 million for the current financial year. For the next financial year, analysts expect that the firm will post sales of $1.25 billion per share, with estimates ranging from $1.24 billion to $1.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for KEMET.
KEMET (NYSE:KEM) last posted its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. The company had revenue of $306.40 million during the quarter, compared to analysts’ expectations of $295.68 million. KEMET had a return on equity of 22.51% and a net margin of 28.33%. KEMET’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share.
Several research firms have recently weighed in on KEM. ValuEngine cut KEMET from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. B. Riley upped their price objective on KEMET from $22.50 to $24.75 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research raised KEMET from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.58.
In related news, SVP Ronald James Assaf sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.89, for a total transaction of $337,800.00. Following the completion of the transaction, the senior vice president now directly owns 94,225 shares of the company’s stock, valued at $1,591,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Per Olof Loof sold 5,500 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $17.56, for a total value of $96,580.00. Following the transaction, the chief executive officer now directly owns 1,124,822 shares of the company’s stock, valued at $19,751,874.32. The disclosure for this sale can be found here. Insiders have sold 140,532 shares of company stock valued at $2,534,291 over the last ninety days. 3.88% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of KEM. Parametric Portfolio Associates LLC boosted its position in KEMET by 47.6% during the second quarter. Parametric Portfolio Associates LLC now owns 77,148 shares of the electronics maker’s stock valued at $987,000 after purchasing an additional 24,893 shares during the last quarter. State Street Corp boosted its position in KEMET by 1,972.6% during the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock valued at $9,606,000 after purchasing an additional 714,335 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in KEMET by 14,204.1% during the second quarter. The Manufacturers Life Insurance Company now owns 34,759 shares of the electronics maker’s stock valued at $445,000 after purchasing an additional 34,516 shares during the last quarter. California State Teachers Retirement System acquired a new position in KEMET during the second quarter valued at approximately $1,037,000. Finally, State Board of Administration of Florida Retirement System boosted its position in KEMET by 14.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 17,027 shares of the electronics maker’s stock valued at $360,000 after purchasing an additional 2,110 shares during the last quarter. 70.14% of the stock is owned by hedge funds and other institutional investors.
KEMET stock opened at $19.81 on Monday. The company has a current ratio of 2.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1,121.35, a PE ratio of 3.73 and a beta of 3.61. KEMET has a 52-week low of $10.70 and a 52-week high of $27.35.
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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