Kimball Electronics (NASDAQ:KE) Shares Gap Down After Earnings Miss

Kimball Electronics, Inc. (NASDAQ:KEGet Free Report) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $25.19, but opened at $22.95. Kimball Electronics shares last traded at $23.5050, with a volume of 32,009 shares trading hands.

The electronics maker reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%.The business had revenue of $371.57 million for the quarter, compared to analyst estimates of $373.36 million.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen downgraded Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings restated a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. Zacks Research raised Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, KeyCorp started coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Get Our Latest Stock Report on Kimball Electronics

Institutional Investors Weigh In On Kimball Electronics

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of Kimball Electronics during the third quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new position in Kimball Electronics in the 2nd quarter valued at $34,000. Farther Finance Advisors LLC acquired a new position in Kimball Electronics in the 4th quarter valued at $35,000. CWM LLC lifted its stake in shares of Kimball Electronics by 135.2% during the 4th quarter. CWM LLC now owns 1,244 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 715 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Kimball Electronics during the 4th quarter worth $38,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Kimball Electronics Stock Down 8.1%

The firm has a fifty day moving average price of $25.13 and a 200-day moving average price of $25.41. The company has a quick ratio of 1.29, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The firm has a market cap of $556.73 million, a price-to-earnings ratio of 22.26, a PEG ratio of 1.12 and a beta of 1.23.

Kimball Electronics Company Profile

(Get Free Report)

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.

See Also

Receive News & Ratings for Kimball Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimball Electronics and related companies with MarketBeat.com's FREE daily email newsletter.