Knife River (NYSE:KNF) Issues Earnings Results, Misses Expectations By $0.15 EPS

Key Points

• Knife River reported $2.43 in quarterly EPS, missing analyst expectations of $2.58 by $0.15. Revenue rose 6.0% year over year to $1.28 billion but also fell short of the $1.30 billion consensus estimate.
• Shares opened at $58.42 and were up 1.2%, despite the earnings miss. The stock remains well below its 52-week high of $96.28.
• Analyst sentiment is mixed, with the stock carrying a consensus rating of “Hold” and an average price target of $69.29; recent actions included downgrades from RBC and JPMorgan and an upgrade from Wolfe Research.

Knife River (NYSE:KNF - Get Free Report) released its earnings results on Tuesday. The company reported $2.43 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.15), Zacks reports. Knife River had a net margin of 4.23% and a return on equity of 8.73%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $2.52 EPS. The company's quarterly revenue was up 6.0% compared to the same quarter last year.

Knife River Stock Up 1.2%

Shares of Knife River stock opened at $58.42 on Tuesday. The business's 50 day simple moving average is $55.57 and its 200 day simple moving average is $73.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66. The firm has a market cap of $3.32 billion, a PE ratio of 23.58, a P/E/G ratio of 1.26 and a beta of 0.46. Knife River has a 52-week low of $47.79 and a 52-week high of $96.28.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Zacks Research upgraded Knife River from a "strong sell" rating to a "hold" rating in a research report on Friday, October 9th. Royal Bank Of Canada downgraded shares of Knife River from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $103.00 to $58.00 in a research report on Friday, October 9th. Citigroup lowered shares of Knife River to a "cautious" rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. decreased their price objective on shares of Knife River from $73.00 to $63.00 and set an "underweight" rating for the company in a report on Tuesday, October 13th. Finally, Wolfe Research raised shares of Knife River from a "peer perform" rating to an "outperform" rating in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $69.29.

About Knife River

Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.

Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.

Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.

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