Zacks: Analysts Anticipate KEMET Co. (NYSE:KEM) Will Announce Earnings of $0.36 Per Share

Brokerages forecast that KEMET Co. (NYSE:KEM) will report earnings per share of $0.36 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for KEMET’s earnings, with estimates ranging from $0.34 to $0.39. KEMET posted earnings of $1.07 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 66.4%. The business is scheduled to announce its next earnings results on Thursday, January 30th.

On average, analysts expect that KEMET will report full year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.28. For the next fiscal year, analysts forecast that the business will post earnings of $1.97 per share, with EPS estimates ranging from $1.78 to $2.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover KEMET.

KEMET (NYSE:KEM) last released its earnings results on Tuesday, November 12th. The electronics maker reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. KEMET had a return on equity of 32.53% and a net margin of 11.56%. The firm had revenue of $327.40 million during the quarter, compared to analysts’ expectations of $324.90 million. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis.

Several research firms recently issued reports on KEM. ValuEngine upgraded KEMET from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Stifel Nicolaus cut KEMET from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Zacks Investment Research cut KEMET from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 20th. Finally, B. Riley cut KEMET from a “buy” rating to a “hold” rating and cut their target price for the stock from $29.00 to $27.20 in a research report on Wednesday, November 13th.

Shares of NYSE:KEM traded up $0.06 during trading on Wednesday, hitting $26.86. 2,047,269 shares of the company’s stock were exchanged, compared to its average volume of 1,325,981. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.15 and a quick ratio of 1.29. KEMET has a 52-week low of $15.55 and a 52-week high of $27.61. The business’s 50-day simple moving average is $24.36 and its 200 day simple moving average is $19.94. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 7.97 and a beta of 2.67.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEM. Public Employees Retirement System of Ohio grew its holdings in 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in KEMET during the 3rd quarter valued at approximately $37,000. Tower Research Capital LLC TRC grew its holdings in 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 in the last quarter. NEXT Financial Group Inc purchased a new position in KEMET during the 2nd quarter valued at approximately $59,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in 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 in the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.

About KEMET

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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Earnings History and Estimates for KEMET (NYSE:KEM)

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