Knife River (NYSE:KNF) Releases Earnings Results, Misses Expectations By $0.22 EPS

Knife River (NYSE:KNF) announced its quarterly earnings results on Monday. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22), RTT News reports. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 EPS. Knife River updated its FY 2024 guidance to EPS.

Knife River Stock Performance

KNF traded down $0.22 during trading on Thursday, hitting $100.31. 79,043 shares of the stock were exchanged, compared to its average volume of 383,573. The company has a quick ratio of 1.49, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. Knife River has a 1-year low of $54.67 and a 1-year high of $103.14. The stock has a fifty day moving average price of $88.14 and a two-hundred day moving average price of $79.03. The firm has a market capitalization of $5.68 billion, a P/E ratio of 28.81, a PEG ratio of 2.20 and a beta of 0.74.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KNF shares. DA Davidson lifted their price target on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. Loop Capital cut their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Oppenheimer upped their price target on Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Knife River has an average rating of “Moderate Buy” and a consensus target price of $93.67.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.