Eastman Kodak (NYSE:KODK) Releases Earnings Results

Key Points

• Eastman Kodak reported an earnings per share (EPS) of ($0.30) for the latest quarter, showcasing a net margin of 6.05% and a return on equity of 8.01%.
• The company's stock price fell by $0.25 to $6.80, with a market capitalization of $548.83 million and a PE ratio of 13.87.
• Wall Street Zen downgraded Kodak from a "hold" to a "sell" rating, indicating a shift in analyst sentiment towards the company's stock.

Eastman Kodak (NYSE:KODK - Get Free Report) released its quarterly earnings results on Monday. The technology company reported ($0.30) earnings per share for the quarter, Zacks reports. Eastman Kodak had a net margin of 1.06% and a return on equity of 2.32%. The business had revenue of $263.00 million for the quarter.

Eastman Kodak Trading Up 9.7%

Shares of NYSE KODK traded up $0.56 during midday trading on Friday, hitting $6.39. The stock had a trading volume of 864,941 shares, compared to its average volume of 1,335,976. The company's 50-day simple moving average is $6.30 and its 200 day simple moving average is $6.44. The firm has a market cap of $517.91 million, a P/E ratio of -64.29 and a beta of 0.90. Eastman Kodak has a fifty-two week low of $4.26 and a fifty-two week high of $8.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.79 and a quick ratio of 1.31.

Analyst Ratings Changes

Separately, Wall Street Zen cut Eastman Kodak from a "hold" rating to a "sell" rating in a report on Monday, May 12th.

Insider Buying and Selling at Eastman Kodak

In other news, Director Philippe D. Katz bought 10,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $5.67 per share, with a total value of $56,700.00. Following the purchase, the director owned 180,026 shares of the company's stock, valued at approximately $1,020,747.42. This represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James V. Continenza bought 50,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $5.74 per share, with a total value of $287,000.00. Following the completion of the purchase, the chief executive officer directly owned 1,902,011 shares in the company, valued at approximately $10,917,543.14. This trade represents a 2.70% increase in their position. The disclosure for this purchase can be found here. 23.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eastman Kodak

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Eastman Kodak by 78.2% in the second quarter. BNP Paribas Financial Markets now owns 6,207 shares of the technology company's stock valued at $35,000 after acquiring an additional 2,723 shares during the period. The Manufacturers Life Insurance Company grew its stake in Eastman Kodak by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 23,887 shares of the technology company's stock valued at $135,000 after acquiring an additional 1,964 shares during the period. Quantbot Technologies LP grew its stake in Eastman Kodak by 58.0% in the second quarter. Quantbot Technologies LP now owns 35,949 shares of the technology company's stock valued at $203,000 after acquiring an additional 13,196 shares during the period. Brevan Howard Capital Management LP acquired a new position in Eastman Kodak in the second quarter valued at about $209,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Eastman Kodak by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,992 shares of the technology company's stock valued at $227,000 after acquiring an additional 1,566 shares during the period. 33.65% of the stock is owned by institutional investors and hedge funds.

About Eastman Kodak

Eastman Kodak Company engages in the provision of hardware, software, consumables, and services to customers in the commercial print, packaging, publishing, manufacturing, and entertainment markets worldwide. The company operates through three segments: Print, Advanced Materials and Chemicals, and Brand.