Cormark Has Negative View of Kraken Robotics FY2024 Earnings

Kraken Robotics Inc. (CVE:PNG) – Analysts at Cormark cut their FY2024 earnings per share estimates for shares of Kraken Robotics in a research note issued on Monday, October 28th. Cormark analyst N. Boychuk now anticipates that the company will post earnings of $0.05 per share for the year, down from their prior estimate of $0.06. The consensus estimate for Kraken Robotics’ current full-year earnings is $0.07 per share. Cormark also issued estimates for Kraken Robotics’ FY2026 earnings at $0.16 EPS.

Kraken Robotics (CVE:PNG) last issued its quarterly earnings data on Thursday, August 22nd. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$22.76 million for the quarter, compared to analyst estimates of C$24.60 million. Kraken Robotics had a return on equity of 23.24% and a net margin of 10.51%.

Kraken Robotics Trading Down 1.9 %

CVE PNG opened at C$2.02 on Tuesday. The business’s 50-day moving average price is C$1.67 and its two-hundred day moving average price is C$1.29. Kraken Robotics has a 12 month low of C$0.45 and a 12 month high of C$2.11. The firm has a market capitalization of C$464.86 million, a PE ratio of 40.40 and a beta of 1.15. The company has a current ratio of 2.71, a quick ratio of 0.64 and a debt-to-equity ratio of 37.39.

Insider Activity at Kraken Robotics

In related news, Senior Officer David Shea sold 142,500 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of C$1.57, for a total transaction of C$223,782.00. 10.13% of the stock is owned by corporate insiders.

About Kraken Robotics

Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally.