Knowles (NYSE:KN) Updates Q3 2024 Earnings Guidance

Knowles (NYSE:KN) issued an update on its third quarter 2024 earnings guidance on Thursday morning. 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 Down 2.2 %

Shares of KN opened at $17.52 on Friday. The company has a market cap of $1.57 billion, a PE ratio of 19.91 and a beta of 1.42. The business has a fifty day moving average of $17.77 and a 200 day moving average of $17.05. Knowles has a 52-week low of $12.78 and a 52-week high of $19.73. The company has a quick ratio of 1.30, a current ratio of 2.36 and a debt-to-equity ratio of 0.28.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO John S. Anderson sold 10,444 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $18.50, for a total transaction of $193,214.00. Following the transaction, 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 accessible through this link. Insiders own 2.65% of the company’s stock.

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).