Knife River (NYSE:KNF) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Knife River reported adjusted EPS of ($1.40), beating estimates by $0.02, and delivered revenue of $410.1 million versus a $387.06 million estimate, a 16.0% year-over-year revenue increase.
• Shares traded down about 3.4% to $87.22 after the print; the company has a market cap of ~$4.95 billion and trades at a P/E of 31.74.
• Institutional investors own ~80.11% of the stock with several funds increasing positions, and analysts carry a consensus "Moderate Buy" rating with an average target price of $97.29 (6 Buys, 3 Holds, 1 Sell).

Knife River (NYSE:KNF - Get Free Report) issued its earnings results on Tuesday. The company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.02, FiscalAI reports. The company had revenue of $410.10 million during the quarter, compared to analysts' expectations of $387.06 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.21) EPS.

Knife River Trading Down 3.4%

Shares of KNF traded down $3.09 during trading hours on Tuesday, reaching $87.22. The stock had a trading volume of 86,806 shares, compared to its average volume of 604,457. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70. Knife River has a 52 week low of $58.72 and a 52 week high of $103.18. The firm has a 50-day moving average of $84.50 and a 200 day moving average of $77.17. The company has a market cap of $4.95 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.09 and a beta of 0.55.

Institutional Trading of Knife River

A number of large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Knife River by 284.9% in the 1st quarter. Jones Financial Companies Lllp now owns 6,390 shares of the company's stock worth $576,000 after purchasing an additional 4,730 shares during the period. Empowered Funds LLC acquired a new position in Knife River in the 1st quarter worth $424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Knife River by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,565 shares of the company's stock worth $20,529,000 after purchasing an additional 32,762 shares during the period. State Street Corp boosted its stake in Knife River by 0.6% in the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company's stock worth $171,542,000 after purchasing an additional 12,308 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Knife River by 71.0% in the 2nd quarter. Raymond James Financial Inc. now owns 354,860 shares of the company's stock worth $28,971,000 after purchasing an additional 147,387 shares during the period. Institutional investors own 80.11% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on KNF shares. Zacks Research upgraded shares of Knife River from a "strong sell" rating to a "hold" rating in a research report on Monday, January 5th. JPMorgan Chase & Co. upped their target price on shares of Knife River from $83.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. B. Riley Financial started coverage on shares of Knife River in a research report on Thursday, January 15th. They set a "buy" rating and a $92.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Knife River from $81.00 to $80.00 and set an "underweight" rating for the company in a research report on Wednesday, April 15th. Finally, Royal Bank Of Canada upped their target price on shares of Knife River from $106.00 to $109.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.29.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

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