Knife River (NYSE:KNF) Announces Earnings Results, Misses Estimates By $0.22 EPS

Knife River (NYSE:KNF) released its earnings results on Monday. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22), RTT News reports. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 earnings per share. Knife River updated its FY 2024 guidance to EPS.

Knife River Stock Performance

KNF traded down $0.22 during trading on Thursday, reaching $100.31. 79,043 shares of the company’s stock were exchanged, compared to its average volume of 383,573. The stock has a market capitalization of $5.68 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 2.20 and a beta of 0.74. Knife River has a 1 year low of $54.67 and a 1 year high of $103.14. The company’s fifty day simple moving average is $88.14 and its 200-day simple moving average is $79.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.49.

Analysts Set New Price Targets

Several research firms have commented on KNF. Loop Capital lowered their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday. DA Davidson raised their price objective on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Oppenheimer boosted their price target on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.67.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.