Knife River (NYSE:KNF) Announces Earnings Results, Misses Expectations By $0.36 EPS

Knife River (NYSE:KNF) announced its earnings results on Tuesday. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.36), Zacks reports. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $931.39 million. During the same quarter last year, the business posted $0.89 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis.

Knife River Stock Down 10.5%

NYSE KNF traded down $8.29 during trading hours on Tuesday, hitting $70.56. 1,478,211 shares of the company traded hands, compared to its average volume of 587,662. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. The business’s 50-day moving average is $80.50 and its 200-day moving average is $81.40. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.31 and a beta of 0.42. Knife River has a twelve month low of $58.72 and a twelve month high of $96.28.

Hedge Funds Weigh In On Knife River

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Knife River by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,915,131 shares of the company’s stock valued at $275,431,000 after acquiring an additional 123,594 shares during the last quarter. State Street Corp raised its holdings in shares of Knife River by 0.6% in the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company’s stock valued at $171,542,000 after purchasing an additional 12,308 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Knife River by 57.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock valued at $124,821,000 after purchasing an additional 648,979 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Knife River by 11.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,391,662 shares of the company’s stock worth $97,909,000 after purchasing an additional 144,176 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Knife River by 30.1% during the second quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after purchasing an additional 182,462 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KNF has been the subject of a number of research analyst reports. Zacks Research raised shares of Knife River from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Royal Bank Of Canada cut their price target on Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. JPMorgan Chase & Co. increased their price objective on Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Knife River from $80.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average price target of $97.14.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.