Scotiabank Has Strong Forecast for Kinaxis FY2024 Earnings

Kinaxis Inc. (TSE:KXS) – Equities researchers at Scotiabank increased their FY2024 earnings per share (EPS) estimates for shares of Kinaxis in a report released on Wednesday, January 8th. Scotiabank analyst K. Krishnaratne now expects that the company will post earnings per share of $1.87 for the year, up from their prior forecast of $1.45. The consensus estimate for Kinaxis’ current full-year earnings is $4.25 per share. Scotiabank also issued estimates for Kinaxis’ FY2025 earnings at $2.86 EPS.

A number of other analysts have also weighed in on KXS. TD Securities cut their price objective on shares of Kinaxis from C$195.00 to C$190.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. ATB Capital increased their price target on Kinaxis from C$205.00 to C$215.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kinaxis currently has a consensus rating of “Moderate Buy” and an average target price of C$192.67.

Kinaxis Stock Performance

KXS opened at C$170.99 on Friday. The company has a current ratio of 1.90, a quick ratio of 2.29 and a debt-to-equity ratio of 12.40. Kinaxis has a 12-month low of C$132.93 and a 12-month high of C$190.17. The firm has a 50 day moving average of C$174.04 and a two-hundred day moving average of C$162.48. The firm has a market capitalization of C$4.83 billion, a PE ratio of 170.99, a P/E/G ratio of 3.60 and a beta of 0.78.

Kinaxis (TSE:KXS) last announced its quarterly earnings data on Wednesday, October 30th. The company reported C$0.47 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.43 by C$0.04. The business had revenue of C$165.79 million for the quarter, compared to analyst estimates of C$170.56 million. Kinaxis had a return on equity of 4.87% and a net margin of 4.59%.

Insiders Place Their Bets

In other Kinaxis news, Senior Officer Megan Paterson sold 9,512 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$167.76, for a total transaction of C$1,595,735.02. Following the completion of the transaction, the insider now directly owns 121 shares in the company, valued at approximately C$20,298.98. This represents a 98.74 % decrease in their ownership of the stock. Also, Director John Ernest Sicard sold 24,147 shares of Kinaxis stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$167.91, for a total transaction of C$4,054,585.55. Over the last quarter, insiders sold 55,200 shares of company stock worth $9,478,652. Company insiders own 1.20% of the company’s stock.

About Kinaxis

Kinaxis Inc provides cloud-based subscription software for supply chain operations in the United States, Europe, Asia, and Canada. It offers RapidResponse, a cloud-based platform, which provides advanced planning, sales and operation planning, supply and demand planning, inventory management, and command and control center services.