Kimball Electronics (NASDAQ:KE) Share Price Breaks Below 200-Day Moving Average on Disappointing Earnings

Shares of Kimball Electronics, Inc. (NASDAQ:KE) crossed below its 200-day moving average during trading on Thursday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $25.63 and traded as low as $19.62. Kimball Electronics shares last traded at $20.45, with a volume of 595,900 shares.

The electronics maker reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.15). Kimball Electronics had a net margin of 1.41% and a return on equity of 3.10%. The firm had revenue of $390.80 million during the quarter, compared to analysts’ expectations of $387.20 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KE shares. Cantor Fitzgerald dropped coverage on shares of Kimball Electronics in a research report on Monday, October 12th. They issued an “overweight” rating for the company. Zacks Research downgraded shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kimball Electronics in a research report on Monday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Institutional Trading of Kimball Electronics

Several large investors have recently added to or reduced their stakes in KE. Bank of New York Mellon Corp acquired a new stake in shares of Kimball Electronics during the 2nd quarter worth about $2,389,000. Bank of America Corp DE purchased a new stake in Kimball Electronics in the 2nd quarter valued at about $30,505,000. Empowered Funds LLC acquired a new position in Kimball Electronics in the second quarter valued at about $3,571,000. NewEdge Advisors LLC lifted its position in Kimball Electronics by 74.6% in the first quarter. NewEdge Advisors LLC now owns 187,186 shares of the electronics maker’s stock valued at $4,434,000 after buying an additional 80,000 shares during the last quarter. Finally, Oxford Financial Group LTD. LLC purchased a new position in Kimball Electronics during the second quarter worth about $7,314,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Kimball Electronics Trading Down 20.9%

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.09 and a quick ratio of 1.27. The company has a market cap of $490.60 million, a PE ratio of 24.35 and a beta of 1.23. The company’s 50 day simple moving average is $26.10 and its two-hundred day simple moving average is $25.63.

Kimball Electronics Company Profile

Kimball Electronics, Inc is a contract manufacturing and engineering services company that helps original equipment manufacturers design, develop and produce electronic and electrical products. The company provides services spanning product design and development, prototyping, testing, manufacturing, supply chain management and aftermarket support.

Kimball Electronics serves customers in the automotive, medical and industrial markets. Its manufacturing capabilities support products and systems such as automotive electronics, medical devices and equipment, industrial controls, power-management products and other complex electronic assemblies.