KEMET Co. (NYSE:KEM) Expected to Post Quarterly Sales of $292.43 Million

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Wall Street analysts predict that KEMET Co. (NYSE:KEM) will post sales of $292.43 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for KEMET’s earnings, with the lowest sales estimate coming in at $291.80 million and the highest estimate coming in at $293.00 million. KEMET posted sales of $350.18 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.5%. The firm is scheduled to issue its next earnings results on Thursday, January 30th.

On average, analysts expect that KEMET will report full year sales of $1.26 billion for the current year, with estimates ranging from $1.25 billion to $1.26 billion. For the next year, analysts forecast that the company will report sales of $1.25 billion, with estimates ranging from $1.21 billion to $1.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for KEMET.

KEMET (NYSE:KEM) last announced its quarterly earnings data on Tuesday, November 12th. The electronics maker reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. The company had revenue of $327.40 million for the quarter, compared to analysts’ expectations of $324.90 million. KEMET had a return on equity of 32.53% and a net margin of 11.56%. KEMET’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS.

A number of equities analysts recently weighed in on the company. ValuEngine raised KEMET from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Zacks Investment Research cut KEMET from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 20th. B. Riley cut KEMET from a “buy” rating to a “hold” rating and decreased their price objective for the company from $29.00 to $27.20 in a report on Wednesday, November 13th. Finally, Stifel Nicolaus cut KEMET from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

Shares of NYSE KEM traded up $0.06 during trading hours on Friday, reaching $26.86. 2,047,269 shares of the stock traded hands, compared to its average volume of 1,325,981. The company has a market capitalization of $1.55 billion, a P/E ratio of 7.97 and a beta of 2.67. The company has a quick ratio of 1.29, a current ratio of 2.15 and a debt-to-equity ratio of 0.42. KEMET has a 52-week low of $15.55 and a 52-week high of $27.61. The company’s 50-day simple moving average is $24.36 and its two-hundred day simple moving average is $19.94.

A number of institutional investors have recently made changes to their positions in KEM. Public Employees Retirement System of Ohio increased its stake in KEMET by 45.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,722 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 540 shares during the period. Meeder Asset Management Inc. purchased a new position in KEMET in the 3rd quarter worth approximately $37,000. Tower Research Capital LLC TRC increased its stake in KEMET by 3,052.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,184 shares of the electronics maker’s stock worth $58,000 after purchasing an additional 3,083 shares during the period. NEXT Financial Group Inc purchased a new position in KEMET in the 2nd quarter worth approximately $59,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in KEMET by 233.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,836 shares of the electronics maker’s stock worth $72,000 after purchasing an additional 2,685 shares during the period. 91.57% of the stock is currently owned by institutional investors and hedge funds.

KEMET Company Profile

KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.

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Earnings History and Estimates for KEMET (NYSE:KEM)

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