Wall Street brokerages expect KEMET Co. (NYSE:KEM) to post $292.43 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for KEMET’s earnings, with the highest sales estimate coming in at $293.00 million and the lowest estimate coming in at $291.80 million. KEMET reported sales of $350.18 million in the same quarter last year, which indicates a negative year-over-year growth rate of 16.5%. The firm is expected to issue its next quarterly earnings report on Thursday, January 30th.
On average, analysts expect that KEMET will report full-year sales of $1.26 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.26 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.25 billion, with estimates ranging from $1.21 billion to $1.27 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow KEMET.
KEMET (NYSE:KEM) last released its quarterly earnings data on Tuesday, November 12th. The electronics maker reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $327.40 million for the quarter, compared to analysts’ expectations of $324.90 million. KEMET had a return on equity of 32.53% and a net margin of 11.56%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS.
Several equities analysts recently issued reports on the company. B. Riley cut KEMET from a “buy” rating to a “hold” rating and lowered their price objective for the company from $29.00 to $27.20 in a research report on Wednesday, November 13th. Zacks Investment Research raised KEMET from a “strong sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut KEMET from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus cut KEMET from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.
KEM stock traded down $0.05 during midday trading on Monday, hitting $26.65. The company’s stock had a trading volume of 208,818 shares, compared to its average volume of 1,057,341. The company has a market cap of $1.55 billion, a PE ratio of 7.91 and a beta of 2.65. KEMET has a 12 month low of $15.87 and a 12 month high of $27.61. The company has a current ratio of 2.15, a quick ratio of 1.29 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $26.73 and its 200-day moving average is $21.97.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of KEMET by 45.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,722 shares of the electronics maker’s stock valued at $31,000 after buying an additional 540 shares during the period. Meeder Asset Management Inc. bought a new position in shares of KEMET during the 3rd quarter valued at $37,000. Tower Research Capital LLC TRC lifted its holdings in shares of KEMET by 3,052.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,184 shares of the electronics maker’s stock valued at $58,000 after buying an additional 3,083 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of KEMET by 233.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,836 shares of the electronics maker’s stock valued at $72,000 after buying an additional 2,685 shares during the period. Finally, Factorial Partners LLC bought a new position in shares of KEMET during the 2nd quarter valued at $94,000. 91.60% 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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