Koninklijke Philips (NYSE:PHG) Shares Gap Down on Disappointing Earnings

Koninklijke Philips (NYSE:PHG) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $28.31, but opened at $24.79. Koninklijke Philips shares last traded at $24.47, with a volume of 405,188 shares traded.

The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). Koninklijke Philips had a positive return on equity of 10.11% and a negative net margin of 1.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a research note on Tuesday, October 29th. StockNews.com cut Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Koninklijke Philips

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning raised its position in shares of Koninklijke Philips by 39.3% during the 3rd quarter. Creative Planning now owns 84,263 shares of the technology company’s stock valued at $2,757,000 after buying an additional 23,768 shares in the last quarter. Blue Trust Inc. lifted its position in Koninklijke Philips by 223.8% in the third quarter. Blue Trust Inc. now owns 11,982 shares of the technology company’s stock valued at $392,000 after purchasing an additional 8,282 shares during the last quarter. OLD National Bancorp IN purchased a new stake in shares of Koninklijke Philips during the third quarter valued at approximately $202,000. Allspring Global Investments Holdings LLC increased its stake in shares of Koninklijke Philips by 29.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,347 shares of the technology company’s stock worth $240,000 after buying an additional 1,690 shares during the period. Finally, Signaturefd LLC raised its holdings in Koninklijke Philips by 6.7% during the 3rd quarter. Signaturefd LLC now owns 28,401 shares of the technology company’s stock valued at $929,000 after buying an additional 1,789 shares during the last quarter. 13.67% of the stock is owned by hedge funds and other institutional investors.

Koninklijke Philips Trading Down 13.2 %

The company has a market capitalization of $23.09 billion, a PE ratio of -58.45, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. The stock’s fifty day moving average price is $26.28 and its two-hundred day moving average price is $28.20. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.60.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.