Zacks: Analysts Expect Kraton Co. (NYSE:KRA) Will Announce Quarterly Sales of $368.05 Million

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Brokerages forecast that Kraton Co. (NYSE:KRA) will post sales of $368.05 million for the current quarter, Zacks reports. Two analysts have provided estimates for Kraton’s earnings, with the highest sales estimate coming in at $374.00 million and the lowest estimate coming in at $362.10 million. Kraton reported sales of $444.22 million in the same quarter last year, which indicates a negative year over year growth rate of 17.1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, October 28th.

On average, analysts expect that Kraton will report full year sales of $1.52 billion for the current year, with estimates ranging from $1.51 billion to $1.53 billion. For the next financial year, analysts expect that the company will post sales of $1.61 billion, with estimates ranging from $1.59 billion to $1.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Kraton.

Kraton (NYSE:KRA) last announced its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.22. Kraton had a net margin of 12.08% and a return on equity of 3.64%. The company had revenue of $355.68 million during the quarter, compared to the consensus estimate of $370.70 million.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Kraton from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday. ValuEngine raised shares of Kraton from a “hold” rating to a “buy” rating in a report on Tuesday, September 15th. Loop Capital lifted their target price on shares of Kraton from $29.00 to $45.00 in a report on Friday, October 16th. Finally, Truist lifted their target price on shares of Kraton from $20.00 to $25.00 in a report on Tuesday, October 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Kraton has an average rating of “Buy” and an average target price of $23.33.

A number of institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System acquired a new stake in Kraton in the 3rd quarter worth about $262,000. Evanson Asset Management LLC raised its stake in Kraton by 3.3% in the 3rd quarter. Evanson Asset Management LLC now owns 22,445 shares of the specialty chemicals company’s stock worth $400,000 after purchasing an additional 711 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Kraton by 1.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,811 shares of the specialty chemicals company’s stock worth $531,000 after purchasing an additional 510 shares in the last quarter. Two Sigma Advisers LP raised its stake in Kraton by 30.8% in the 2nd quarter. Two Sigma Advisers LP now owns 105,625 shares of the specialty chemicals company’s stock worth $1,825,000 after purchasing an additional 24,900 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Kraton by 47.3% in the 2nd quarter. Principal Financial Group Inc. now owns 354,280 shares of the specialty chemicals company’s stock worth $6,122,000 after purchasing an additional 113,749 shares in the last quarter. Institutional investors and hedge funds own 93.47% of the company’s stock.

Shares of KRA traded down $0.45 during midday trading on Friday, reaching $29.89. The stock had a trading volume of 306,749 shares, compared to its average volume of 433,834. The firm has a 50 day simple moving average of $19.52 and a 200-day simple moving average of $15.72. Kraton has a one year low of $4.45 and a one year high of $31.44. The firm has a market cap of $966.72 million, a PE ratio of 4.85 and a beta of 2.87. The company has a current ratio of 1.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

About Kraton

Kraton Corporation manufactures and sells styrenic block copolymers, specialty polymers, and other products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Polymer and Chemical. The Polymer segment offers performance products, including styrene-butadiene-styrene for paving and roofing application; styrene-isoprene-styrene for personal care application; ethylene-vinyl acetate, polyolefins, and metallocene polyolefins for adhesives application; and specialty polymers, such as hydrogenated styrenic block copolymers, as well as isoprene rubber and isoprene rubber latex for use in medical and personal care products, adhesives, tackifiers, paints, and coatings.

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