Kimball Electronics (NASDAQ:KE) Announces Earnings Results, Misses Expectations By $0.47 EPS

Key Points

• Kimball Electronics reported a quarterly loss of $0.08 per share, missing analysts’ consensus estimate of $0.39 by $0.47. The company posted a 1.81% net margin and 6.22% return on equity.
• Shares fell 0.2% to $25.19, while the company’s market capitalization stood at approximately $605.8 million. The stock has traded between $20.72 and $33.19 over the past year.
• Institutional investors own approximately 75.99% of Kimball Electronics, with several funds increasing their positions. Analysts maintain a “Moderate Buy” consensus rating and a $32.00 target price.

Kimball Electronics (NASDAQ:KE - Get Free Report) released its quarterly earnings results on Wednesday. The electronics maker reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.47), Zacks reports. Kimball Electronics had a net margin of 1.81% and a return on equity of 6.22%.

Kimball Electronics Trading Down 0.2%

Kimball Electronics stock traded down $0.04 during mid-day trading on Wednesday, hitting $25.19. The stock had a trading volume of 222,451 shares, compared to its average volume of 172,648. The stock has a 50-day simple moving average of $25.15 and a two-hundred day simple moving average of $25.45. The stock has a market capitalization of $605.82 million, a PE ratio of 24.22, a P/E/G ratio of 1.12 and a beta of 1.23. Kimball Electronics has a 12 month low of $20.72 and a 12 month high of $33.19. The company has a current ratio of 2.11, a quick ratio of 1.29 and a debt-to-equity ratio of 0.22.

Institutional Trading of Kimball Electronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in KE. Royal Bank of Canada grew its position in shares of Kimball Electronics by 5.8% during the 1st quarter. Royal Bank of Canada now owns 29,199 shares of the electronics maker's stock worth $480,000 after buying an additional 1,588 shares during the period. AQR Capital Management LLC boosted its stake in Kimball Electronics by 24.0% in the first quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker's stock valued at $4,273,000 after acquiring an additional 50,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Kimball Electronics by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker's stock valued at $242,000 after purchasing an additional 624 shares during the period. Empowered Funds LLC lifted its stake in shares of Kimball Electronics by 8.3% in the 1st quarter. Empowered Funds LLC now owns 88,650 shares of the electronics maker's stock valued at $1,458,000 after purchasing an additional 6,803 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Kimball Electronics in the 1st quarter worth $411,000. 75.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

KE has been the subject of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. KeyCorp assumed coverage on shares of Kimball Electronics in a research note on Thursday, July 2nd. They issued a "sector weight" rating for the company. Finally, Wall Street Zen lowered shares of Kimball Electronics from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Kimball Electronics currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company's core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.

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