Knowles (NYSE:KN) Releases Q3 2024 Earnings Guidance

Knowles (NYSE:KN) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.240-0.280 for the period, compared to the consensus earnings per share estimate of 0.310. The company issued revenue guidance of $139.0 million-$143.0 million, compared to the consensus revenue estimate of $215.0 million. Knowles also updated its Q4 2024 guidance to EPS.

Knowles Stock Performance

Shares of KN traded down $0.11 during mid-day trading on Thursday, reaching $17.09. 302,481 shares of the company’s stock were exchanged, compared to its average volume of 536,490. The business’s fifty day simple moving average is $17.80 and its 200-day simple moving average is $17.04. Knowles has a 52-week low of $12.78 and a 52-week high of $19.73. The stock has a market capitalization of $1.53 billion, a PE ratio of 19.23 and a beta of 1.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30.

Knowles (NYSE:KN) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%. The business had revenue of $204.70 million during the quarter.

Analyst Ratings Changes

Separately, Susquehanna increased their price objective on Knowles from $15.00 to $20.00 and gave the stock a neutral rating in a research report on Wednesday, July 17th.

Insiders Place Their Bets

In related news, CFO John S. Anderson sold 10,444 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.50, for a total value of $193,214.00. Following the completion of the sale, the chief financial officer now owns 211,200 shares in the company, valued at $3,907,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.65% of the stock is owned by insiders.

About Knowles

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).