Equities research analysts expect Kemet Corporation (NYSE:KEM) to announce sales of $298.51 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Kemet Corporation’s earnings. The highest sales estimate is $301.60 million and the lowest is $296.88 million. Kemet Corporation reported sales of $187.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 59.4%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Kemet Corporation will report full year sales of $298.51 million for the current financial year, with estimates ranging from $1.15 billion to $1.18 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.21 billion per share, with estimates ranging from $1.20 billion to $1.23 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Kemet Corporation.
Kemet Corporation (NYSE:KEM) last released its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.15. The firm had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $282.52 million. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The business’s revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS.
KEM has been the topic of several research reports. TheStreet raised shares of Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. ValuEngine raised shares of Kemet Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. B. Riley reissued a “buy” rating and issued a $24.25 price target on shares of Kemet Corporation in a research report on Tuesday, August 8th. Finally, Zacks Investment Research lowered shares of Kemet Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $21.42.
In related news, insider Charles C. Meeks, Jr. sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $18.89, for a total transaction of $566,700.00. Following the sale, the insider now owns 259,781 shares of the company’s stock, valued at approximately $4,907,263.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilfried Backes sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the sale, the director now directly owns 87,934 shares in the company, valued at approximately $1,800,008.98. The disclosure for this sale can be found here. In the last three months, insiders sold 80,859 shares of company stock worth $1,598,660. Insiders own 3.88% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System bought a new stake in Kemet Corporation during the 2nd quarter worth approximately $1,037,000. Raymond James Financial Services Advisors Inc. bought a new stake in Kemet Corporation during the 2nd quarter worth approximately $177,000. The Manufacturers Life Insurance Company increased its holdings in Kemet Corporation by 14,204.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,759 shares of the electronics maker’s stock worth $445,000 after acquiring an additional 34,516 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Kemet Corporation by 13.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock worth $317,000 after acquiring an additional 2,875 shares during the period. Finally, State Street Corp increased its holdings in Kemet Corporation by 1,972.6% during the 2nd quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock worth $9,606,000 after acquiring an additional 714,335 shares during the period. 67.27% of the stock is currently owned by institutional investors and hedge funds.
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Kemet Corporation (NYSE KEM) traded up 3.87% on Tuesday, reaching $26.31. 2,586,147 shares of the company’s stock traded hands. Kemet Corporation has a 52-week low of $3.45 and a 52-week high of $26.77. The company’s 50 day moving average is $21.89 and its 200-day moving average is $16.19. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 5.46 and a beta of 3.56.
Kemet Corporation Company Profile
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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