Kornit Digital Ltd (KRNT) Expected to Post Earnings of $0.06 Per Share

Wall Street analysts expect Kornit Digital Ltd (NASDAQ:KRNT) to announce $0.06 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kornit Digital’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.04. Kornit Digital also reported earnings per share of $0.06 during the same quarter last year. The company is expected to announce its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Kornit Digital will report full-year earnings of $0.59 per share for the current fiscal year, with EPS estimates ranging from $0.55 to $0.62. For the next financial year, analysts forecast that the business will post earnings of $0.87 per share, with EPS estimates ranging from $0.85 to $0.89. 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 posted its quarterly earnings results on Tuesday, February 12th. The industrial products company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.06). Kornit Digital had a return on equity of 5.09% and a net margin of 8.73%. The business had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $38.11 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year.

KRNT has been the subject of several recent analyst reports. Craig Hallum set a $25.00 price target on Kornit Digital and gave the stock a “buy” rating in a research note on Thursday, February 14th. BidaskClub upgraded Kornit Digital from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Zacks Investment Research upgraded Kornit Digital from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, January 15th. Needham & Company LLC upped their price objective on Kornit Digital from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus upped their price objective on Kornit Digital from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $24.29.

A number of institutional investors have recently bought and sold shares of KRNT. Bank of New York Mellon Corp purchased a new stake in Kornit Digital during the third quarter valued at $6,868,000. BlackRock Inc. grew its holdings in Kornit Digital by 6.3% during the third quarter. BlackRock Inc. now owns 410,780 shares of the industrial products company’s stock valued at $8,996,000 after purchasing an additional 24,282 shares during the period. Virtu Financial LLC bought a new stake in Kornit Digital during the third quarter valued at about $227,000. Allianz Asset Management GmbH grew its holdings in Kornit Digital by 15.1% during the third quarter. Allianz Asset Management GmbH now owns 154,564 shares of the industrial products company’s stock valued at $3,385,000 after purchasing an additional 20,263 shares during the period. Finally, Jefferies Group LLC bought a new stake in Kornit Digital during the third quarter valued at about $210,000. Institutional investors own 94.94% of the company’s stock.

KRNT stock opened at $27.50 on Friday. Kornit Digital has a 1-year low of $13.50 and a 1-year high of $28.24. The firm has a market capitalization of $964.29 million, a PE ratio of 114.58 and a beta of 0.98.

About Kornit Digital

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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