Knowles (NYSE:KN) Updates Q3 2024 Earnings Guidance

Knowles (NYSE:KN) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.240-0.280 for the period, compared to the consensus estimate of 0.310. The company issued revenue guidance of $139.0 million-$143.0 million, compared to the consensus revenue estimate of $215.0 million. Knowles also updated its Q4 2024 guidance to EPS.

Knowles Stock Down 2.2 %

Shares of NYSE:KN opened at $17.52 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of 19.91 and a beta of 1.42. The business has a 50 day simple moving average of $17.77 and a two-hundred day simple moving average of $17.06. Knowles has a 1 year low of $12.78 and a 1 year high of $19.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30.

Knowles (NYSE:KN) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%. The business had revenue of $204.70 million for the quarter.

Wall Street Analyst Weigh In

Separately, Susquehanna lifted their price objective on shares of Knowles from $15.00 to $20.00 and gave the company a neutral rating in a report on Wednesday, July 17th.

Insider Activity at Knowles

In other Knowles news, CFO John S. Anderson sold 10,444 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $18.50, for a total value of $193,214.00. Following the completion of the sale, the chief financial officer now directly owns 211,200 shares in the company, valued at approximately $3,907,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.65% of the stock is owned by company insiders.

Knowles Company Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).