KEMET (KEM) Announces Quarterly Earnings Results, Beats Estimates By $0.27 EPS

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KEMET (NYSE:KEM) issued its quarterly earnings results on Tuesday. The electronics maker reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.27, MarketWatch Earnings reports. KEMET had a net margin of 5.52% and a return on equity of 23.78%. The company had revenue of $349.20 million for the quarter, compared to the consensus estimate of $335.56 million. During the same quarter in the prior year, the company earned $0.45 EPS. KEMET’s quarterly revenue was up 15.8% on a year-over-year basis.

NYSE:KEM traded up $2.26 during midday trading on Tuesday, hitting $20.01. The company’s stock had a trading volume of 134,881 shares, compared to its average volume of 1,169,181. The company has a market cap of $933.88 million, a PE ratio of 12.10 and a beta of 3.85. KEMET has a fifty-two week low of $13.73 and a fifty-two week high of $29.85. The company has a current ratio of 2.44, a quick ratio of 1.66 and a debt-to-equity ratio of 0.64.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Friday, November 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.00%.

KEM has been the topic of several research reports. Zacks Investment Research downgraded shares of KEMET from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 26th. ValuEngine downgraded shares of KEMET from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Macquarie initiated coverage on shares of KEMET in a report on Monday, October 8th. They issued an “outperform” rating on the stock. Finally, B. Riley increased their price target on shares of KEMET and gave the stock a “buy” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. KEMET currently has a consensus rating of “Hold” and an average target price of $28.88.

In other news, SVP Ronald James Assaf sold 3,333 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $25.06, for a total transaction of $83,524.98. Following the sale, the senior vice president now owns 93,288 shares of the company’s stock, valued at approximately $2,337,797.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Per Olof Loof sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $25.40, for a total transaction of $254,000.00. Following the sale, the chief executive officer now directly owns 888,992 shares in the company, valued at approximately $22,580,396.80. The disclosure for this sale can be found here. Insiders have sold a total of 16,666 shares of company stock worth $398,852 in the last ninety days. Corporate insiders own 2.95% of the company’s stock.

About KEMET

KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.

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Earnings History for KEMET (NYSE:KEM)

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