Kornit Digital Ltd (KRNT) Expected to Post Earnings of $0.13 Per Share

Analysts forecast that Kornit Digital Ltd (NASDAQ:KRNT) will report earnings per share (EPS) of $0.10 for the current quarter, Zacks reports. Two analysts have issued estimates for Kornit Digital’s earnings, with estimates ranging from $0.09 to $0.10. Kornit Digital reported earnings per share of $0.06 in the same quarter last year, which would suggest a positive year-over-year growth rate of 66.7%. The company is scheduled to issue its next earnings results on Tuesday, May 14th.

On average, analysts expect that Kornit Digital will report full year earnings of $0.66 per share for the current year. For the next financial year, analysts forecast that the company will report earnings of $0.85 per share. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Tuesday, February 12th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). Kornit Digital had a return on equity of 4.53% and a net margin of 3.78%. The business had revenue of $37.80 million for the quarter, compared to analyst estimates of $38.11 million. During the same quarter last year, the company posted $0.04 EPS. Kornit Digital’s quarterly revenue was up 26.0% on a year-over-year basis.

A number of brokerages recently commented on KRNT. BidaskClub upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. ValuEngine downgraded shares of Kornit Digital from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 21st. Zacks Investment Research upgraded shares of 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. Finally, TheStreet upgraded shares of Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, November 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.50.

Several hedge funds have recently bought and sold shares of the company. American Capital Management Inc. lifted its position in shares of Kornit Digital by 3.1% during the 4th quarter. American Capital Management Inc. now owns 2,847,478 shares of the industrial products company’s stock valued at $53,305,000 after acquiring an additional 86,545 shares during the period. Chicago Capital LLC increased its stake in shares of Kornit Digital by 14.6% during the 3rd quarter. Chicago Capital LLC now owns 1,179,539 shares of the industrial products company’s stock worth $25,832,000 after purchasing an additional 149,960 shares in the last quarter. LA Financiere DE L Echiquier increased its stake in shares of Kornit Digital by 20.8% during the 3rd quarter. LA Financiere DE L Echiquier now owns 627,944 shares of the industrial products company’s stock worth $13,752,000 after purchasing an additional 107,944 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Kornit Digital by 14.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 564,779 shares of the industrial products company’s stock worth $12,367,000 after purchasing an additional 69,636 shares in the last quarter. Finally, Broadview Advisors LLC increased its stake in shares of Kornit Digital by 11.1% during the 3rd quarter. Broadview Advisors LLC now owns 525,875 shares of the industrial products company’s stock worth $11,517,000 after purchasing an additional 52,750 shares in the last quarter. Institutional investors own 87.65% of the company’s stock.

Shares of NASDAQ:KRNT opened at $20.96 on Friday. The stock has a market capitalization of $764.44 million, a P/E ratio of 106.60 and a beta of 0.92. Kornit Digital has a 52 week low of $11.70 and a 52 week high of $23.90.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

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