Wall Street brokerages expect that KEMET Co. (NYSE:KEM) will announce $332.93 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for KEMET’s earnings, with the highest sales estimate coming in at $348.70 million and the lowest estimate coming in at $325.00 million. KEMET posted sales of $349.23 million in the same quarter last year, which indicates a negative year over year growth rate of 4.7%. The company is expected to report its next earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that KEMET will report full-year sales of $1.35 billion for the current year, with estimates ranging from $1.31 billion to $1.40 billion. For the next year, analysts forecast that the company will post sales of $1.40 billion, with estimates ranging from $1.32 billion to $1.47 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow KEMET.
KEMET (NYSE:KEM) last announced its quarterly earnings data on Thursday, August 1st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. KEMET had a return on equity of 36.26% and a net margin of 15.12%. The company had revenue of $345.20 million for the quarter, compared to analysts’ expectations of $343.72 million. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue was up 5.4% compared to the same quarter last year.
A number of research analysts recently weighed in on the company. ValuEngine lowered KEMET from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. B. Riley boosted their target price on KEMET from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research raised KEMET from a “sell” rating to a “hold” rating in a report on Friday.
Shares of KEM stock traded down $0.28 during trading on Wednesday, reaching $19.17. 509,222 shares of the company’s stock were exchanged, compared to its average volume of 1,181,937. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.49 and a quick ratio of 1.55. The stock has a market capitalization of $1.11 billion, a PE ratio of 5.69 and a beta of 2.52. KEMET has a twelve month low of $15.55 and a twelve month high of $26.96. The business has a fifty day moving average price of $19.44.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Thursday, August 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 14th. KEMET’s payout ratio is presently 5.93%.
In other KEMET news, SVP Ronald James Assaf sold 3,334 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.90, for a total value of $73,014.60. Following the transaction, the senior vice president now directly owns 57,743 shares of the company’s stock, valued at approximately $1,264,571.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shignori Oyama sold 3,102 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $16.88, for a total value of $52,361.76. Following the completion of the transaction, the vice president now directly owns 142,473 shares in the company, valued at $2,404,944.24. The disclosure for this sale can be found here. Insiders have sold a total of 13,104 shares of company stock worth $249,468 over the last three months. 1.76% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Riverhead Capital Management LLC raised its position in KEMET by 17.5% in the second quarter. Riverhead Capital Management LLC now owns 14,800 shares of the electronics maker’s stock valued at $278,000 after purchasing an additional 2,200 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of KEMET in the second quarter valued at about $250,000. Pitcairn Co. acquired a new stake in shares of KEMET in the second quarter valued at about $290,000. Bank of New York Mellon Corp increased its stake in shares of KEMET by 31.6% in the second quarter. Bank of New York Mellon Corp now owns 2,188,526 shares of the electronics maker’s stock valued at $41,166,000 after buying an additional 525,793 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of KEMET by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 424,416 shares of the electronics maker’s stock valued at $7,984,000 after buying an additional 9,698 shares during the period. 80.92% of the stock is currently owned by hedge funds and other institutional investors.
KEMET Company Profile
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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