KEMET Co. (KEM) Expected to Announce Quarterly Sales of $353.36 Million

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Wall Street analysts predict that KEMET Co. (NYSE:KEM) will announce sales of $353.36 million for the current quarter, according to Zacks. Three analysts have made estimates for KEMET’s earnings, with the highest sales estimate coming in at $355.59 million and the lowest estimate coming in at $350.00 million. KEMET posted sales of $306.41 million in the same quarter last year, which suggests a positive year over year growth rate of 15.3%. The company is expected to issue its next earnings results on Thursday, February 7th.

On average, analysts expect that KEMET will report full-year sales of $1.39 billion for the current financial year, with estimates ranging from $1.38 billion to $1.39 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.49 billion, with estimates ranging from $1.46 billion to $1.52 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for KEMET.

KEMET (NYSE:KEM) last announced its quarterly earnings data on Tuesday, October 30th. The electronics maker reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.27. KEMET had a return on equity of 27.21% and a net margin of 7.18%. The firm had revenue of $349.20 million during the quarter, compared to the consensus estimate of $335.56 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis.

KEM has been the topic of several research analyst reports. Zacks Investment Research cut KEMET from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 26th. ValuEngine cut KEMET from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Macquarie initiated coverage on KEMET in a research note on Monday, October 8th. They set an “outperform” rating on the stock. Finally, B. Riley boosted their target price on KEMET and gave the company a “buy” rating in a research note on Thursday, July 26th.

Shares of KEM traded down $1.00 during mid-day trading on Monday, hitting $21.74. 1,869,979 shares of the company’s stock traded hands, compared to its average volume of 1,550,643. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.77 and a current ratio of 2.60. KEMET has a 1 year low of $13.73 and a 1 year high of $29.85. The stock has a market capitalization of $1.30 billion, a PE ratio of 13.42 and a beta of 3.03.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.92%.

In related news, CEO Per Olof Loof sold 10,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $25.40, for a total value of $254,000.00. Following the sale, the chief executive officer now directly owns 888,992 shares of the company’s stock, valued at $22,580,396.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ronald James Assaf sold 3,333 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $18.40, for a total value of $61,327.20. Following the completion of the sale, the senior vice president now directly owns 86,722 shares in the company, valued at $1,595,684.80. The disclosure for this sale can be found here. Insiders have sold 19,999 shares of company stock worth $471,612 over the last three months. Insiders own 2.95% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Divisar Capital Management LLC grew its stake in KEMET by 357.7% in the second quarter. Divisar Capital Management LLC now owns 322,282 shares of the electronics maker’s stock worth $7,783,000 after purchasing an additional 251,862 shares during the period. First Trust Advisors LP purchased a new stake in KEMET in the second quarter worth $3,222,000. Point72 Asset Management L.P. grew its stake in KEMET by 223.1% in the second quarter. Point72 Asset Management L.P. now owns 1,211,768 shares of the electronics maker’s stock worth $29,264,000 after purchasing an additional 836,668 shares during the period. Columbia Partners L L C Investment Management purchased a new stake in KEMET in the second quarter worth $1,833,000. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in KEMET in the second quarter worth $16,369,000. 77.06% of the stock is currently owned by institutional investors.

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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