Kornit Digital Ltd (NASDAQ:KRNT) Expected to Announce Earnings of $0.16 Per Share

Equities research analysts predict that Kornit Digital Ltd (NASDAQ:KRNT) will report earnings of $0.16 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kornit Digital’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.14. Kornit Digital posted earnings per share of $0.08 during the same quarter last year, which suggests a positive year-over-year growth rate of 100%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 11th.

According to Zacks, analysts expect that Kornit Digital will report full year earnings of $0.34 per share for the current year. For the next financial year, analysts anticipate that the business will post earnings of $0.80 per share, with EPS estimates ranging from $0.75 to $0.84. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Monday, November 18th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.09). Kornit Digital had a net margin of 4.75% and a return on equity of 2.15%. The firm had revenue of $49.70 million during the quarter, compared to analysts’ expectations of $48.68 million. During the same quarter in the previous year, the company posted $0.13 EPS. Kornit Digital’s revenue for the quarter was up 26.5% on a year-over-year basis.

KRNT has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price target (up previously from $34.00) on shares of Kornit Digital in a research report on Tuesday, November 19th. Stifel Nicolaus set a $35.00 price objective on Kornit Digital and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine cut Kornit Digital from a “buy” rating to a “hold” rating in a research report on Tuesday. TheStreet upgraded Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research raised Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $29.25.

NASDAQ:KRNT traded down $0.18 during trading hours on Wednesday, reaching $34.57. The stock had a trading volume of 967 shares, compared to its average volume of 241,320. The stock has a market cap of $1.38 billion, a P/E ratio of 143.25 and a beta of 1.09. The stock has a 50 day simple moving average of $33.62 and a 200 day simple moving average of $30.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.83 and a current ratio of 7.72. Kornit Digital has a 12-month low of $16.10 and a 12-month high of $35.73.

Hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. increased its position in Kornit Digital by 268.2% during the second quarter. Wasatch Advisors Inc. now owns 2,943,063 shares of the industrial products company’s stock worth $93,177,000 after buying an additional 2,143,724 shares during the last quarter. Phoenix Holdings Ltd. bought a new position in shares of Kornit Digital in the third quarter valued at $25,234,000. BlackRock Inc. boosted its stake in Kornit Digital by 108.3% during the 2nd quarter. BlackRock Inc. now owns 1,249,328 shares of the industrial products company’s stock valued at $39,555,000 after purchasing an additional 649,662 shares during the last quarter. Invesco Ltd. raised its position in Kornit Digital by 752.6% in the 2nd quarter. Invesco Ltd. now owns 648,075 shares of the industrial products company’s stock valued at $20,518,000 after buying an additional 572,061 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Kornit Digital by 15.2% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,954,254 shares of the industrial products company’s stock valued at $93,532,000 after acquiring an additional 390,395 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Kornit Digital (NASDAQ:KRNT)

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