Kornit Digital Ltd. (KRNT) Expected to Post Earnings of $0.14 Per Share

Equities research analysts expect that Kornit Digital Ltd. (NASDAQ:KRNT) will post $0.14 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for Kornit Digital’s earnings. The lowest EPS estimate is $0.13 and the highest is $0.15. Kornit Digital reported earnings per share of $0.11 in the same quarter last year, which would suggest a positive year over year growth rate of 27.3%. The company is scheduled to announce its next earnings report on Wednesday, November 8th.

On average, analysts expect that Kornit Digital will report full-year earnings of $0.40 per share for the current year, with EPS estimates ranging from $0.37 to $0.43. For the next financial year, analysts expect that the business will post earnings of $0.65 per share, with EPS estimates ranging from $0.60 to $0.70. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The company had revenue of $28.59 million for the quarter, compared to analysts’ expectations of $29.81 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year.

Several research firms have commented on KRNT. BidaskClub cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 target price on shares of Kornit Digital in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Craig Hallum assumed coverage on shares of Kornit Digital in a research note on Tuesday, July 11th. They set a “buy” rating and a $26.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.86.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AWM Investment Company Inc. grew its stake in shares of Kornit Digital by 75.8% during the 2nd quarter. AWM Investment Company Inc. now owns 350,098 shares of the industrial products company’s stock valued at $6,774,000 after buying an additional 150,921 shares during the period. Wasatch Advisors Inc. purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at $8,604,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at $198,000. State Street Corp grew its stake in shares of Kornit Digital by 75.7% during the 2nd quarter. State Street Corp now owns 89,769 shares of the industrial products company’s stock valued at $1,738,000 after buying an additional 38,678 shares during the period. Finally, ETF Managers Group LLC purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at $211,000. 73.83% of the stock is owned by institutional investors.

Kornit Digital (NASDAQ:KRNT) traded up 2.08% on Friday, reaching $17.15. The company’s stock had a trading volume of 126,228 shares. The firm has a 50 day moving average price of $16.80 and a 200 day moving average price of $16.23. The stock’s market capitalization is $578.56 million. Kornit Digital has a 52 week low of $8.90 and a 52 week high of $18.50.

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Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

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