Brokerages expect Kornit Digital Ltd. (NASDAQ: KRNT) Reports Earnings of $ 0.22 Per Share

Brokerages expect Kornit Digital Ltd. (NASDAQ: KRNT) reports earnings per share of $ 0.22 for current quarter, Zacks investment research reports. Two analysts provided revenue estimates for Kornit Digital, with the highest EPS estimate being $ 0.23 and the lower estimate being $ 0.20. Kornit Digital reported earnings per share of ($ 0.03) in the same quarter last year, suggesting a positive year-over-year growth rate of 833.3%. The company is expected to report its next quarterly results on Tuesday, August 10.

On average, analysts expect Kornit Digital to report annual earnings of $ 0.93 per share for the current fiscal year, with EPS estimates ranging from $ 0.75 to $ 11.1. For the next fiscal year, analysts predict the company will post earnings of $ 1.29 per share, with EPS estimates ranging from $ 1.20 to $ 1.38. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts who cover Kornit Digital.

Kornit Digital (NASDAQ: KRNT) last released its quarterly earnings data on Tuesday, May 11. The industrials company reported earnings per share (EPS) of $ 0.16 for the quarter, beating the consensus estimate of $ 0.13 of $ 0.03 by the Zacks. The company posted revenue of $ 69.20 million in the quarter, compared to $ 62.67 million expected by analysts. Kornit Digital had a net margin of 4.45% and a return on equity of 3.37%. The company’s revenue for the quarter increased 158.2% year-over-year. In the same quarter of the previous year, the company achieved earnings per share ($ 0.20).

A number of research analysts have recently published reports on the title. Craig Hallum reduced his price target for Kornit Digital shares from $ 125 to $ 105 and set a “buy” rating for the company in a report released on Wednesday, May 12. Zacks investment research changed Kornit Digital’s stock from a “sell” rating to a “keep” rating in a research note on Tuesday, April 20. One research analyst rated the stock with a conservation rating and six assigned a buy rating to the company’s stock. Kornit Digital currently has a consensus rating of “Buy” and an average price target of $ 113.22.

Hedge funds have recently changed their positions in the company. Lazard Asset Management LLC purchased a new stake in Kornit Digital shares in the fourth quarter valued at $ 25,000. Amundi Pioneer Asset Management Inc. increased its position in Kornit Digital shares by 39.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 449 shares of the industrial products company valued at $ 40,000 after purchasing 126 additional shares in the last quarter. Dorsey Wright & Associates increased its position in Kornit Digital by 134.6% during the first quarter. Dorsey Wright & Associates now owns 894 shares of the industrial products company valued at $ 89,000 after acquiring an additional 513 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Kornit Digital during the fourth quarter valued at $ 136,000. Finally, Sageworth Trust Co purchased a new stake in Kornit Digital during the first quarter valued at $ 138,000. 91.08% of the shares are currently held by institutional investors and hedge funds.

The NASDAQ KRNT traded up $ 1.28 in Monday’s session, reaching $ 125.69. 116,801 shares of the stock traded for an average volume of 255,172. The company has a market capitalization of $ 5.78 billion, a price / earnings ratio of 598.55 and a beta of 1.82. The company’s 50-day moving average is $ 107.61. Kornit Digital has a 52-week low of $ 43.81 and a 52-week high of $ 127.40.

About Kornit Digital

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the fashion, apparel and interior design segments of the printed textile industry worldwide. The company’s solutions include digital printing systems, ink and other consumables, associated software and value-added services.

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