Wall Street analysts forecast that KEMET Co. (NYSE:KEM) will announce sales of $335.32 million for the current quarter, according to Zacks. Three analysts have made estimates for KEMET’s earnings, with the highest sales estimate coming in at $336.45 million and the lowest estimate coming in at $334.50 million. KEMET reported sales of $301.47 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.2%. The company is scheduled to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that KEMET will report full-year sales of $1.34 billion for the current financial year, with estimates ranging from $1.34 billion to $1.35 billion. For the next year, analysts expect that the firm will report sales of $1.43 billion per share, with estimates ranging from $1.40 billion to $1.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for KEMET.
KEMET (NYSE:KEM) last posted its earnings results on Wednesday, July 25th. The electronics maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.47 by $0.08. KEMET had a return on equity of 23.78% and a net margin of 5.52%. The firm had revenue of $327.62 million for the quarter, compared to analysts’ expectations of $318.22 million. During the same period last year, the firm earned $0.33 EPS. The firm’s revenue was up 19.6% compared to the same quarter last year.
KEM has been the topic of several analyst reports. ValuEngine upgraded KEMET from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. B. Riley raised their target price on KEMET and gave the company a “buy” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research cut KEMET from a “hold” rating to a “sell” rating in a research report on Thursday, May 24th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $28.88.
KEM opened at $24.54 on Wednesday. KEMET has a 12 month low of $13.73 and a 12 month high of $29.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.66 and a current ratio of 2.44. The company has a market capitalization of $1.32 billion, a P/E ratio of 15.15 and a beta of 3.78.
In other news, insider Charles C. Meeks, Jr. sold 15,000 shares of KEMET stock in a transaction on Friday, June 1st. The stock was sold at an average price of $20.45, for a total transaction of $306,750.00. Following the transaction, the insider now directly owns 180,127 shares in the company, valued at approximately $3,683,597.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Per Olof Loof sold 47,000 shares of KEMET stock in a transaction on Monday, June 4th. The shares were sold at an average price of $20.20, for a total value of $949,400.00. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of KEM. MetLife Investment Advisors LLC acquired a new position in shares of KEMET during the 4th quarter valued at $389,000. Trellus Management Company LLC acquired a new position in shares of KEMET during the 1st quarter valued at $317,000. Wells Fargo & Company MN increased its position in shares of KEMET by 13.6% during the 1st quarter. Wells Fargo & Company MN now owns 616,027 shares of the electronics maker’s stock valued at $11,169,000 after purchasing an additional 73,590 shares during the period. Rhumbline Advisers increased its position in shares of KEMET by 6.6% during the 1st quarter. Rhumbline Advisers now owns 119,314 shares of the electronics maker’s stock valued at $2,163,000 after purchasing an additional 7,403 shares during the period. Finally, Alps Advisors Inc. grew its holdings in shares of KEMET by 13.8% in the 1st quarter. Alps Advisors Inc. now owns 24,293 shares of the electronics maker’s stock worth $440,000 after acquiring an additional 2,937 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.
KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.
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