Knife River (NYSE:KNF) Posts Quarterly Earnings Results, Misses Estimates By $0.15 EPS

by · The Cerbat Gem

Knife River (NYSE:KNF – Get Free Report) posted its earnings results on Tuesday. The company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.15), Zacks reports. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. Knife River had a net margin of 4.23% and a return on equity of 8.73%. Knife River’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.52 EPS.

Knife River Price Performance

NYSE:KNF traded up $0.93 during trading hours on Tuesday, reaching $58.66. 277,197 shares of the company were exchanged, compared to its average volume of 692,720. The business has a 50 day moving average of $55.57 and a 200 day moving average of $73.97. Knife River has a 1-year low of $47.79 and a 1-year high of $96.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.66 and a quick ratio of 1.60. The company has a market capitalization of $3.33 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.26 and a beta of 0.46.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KNF. Royal Bank Of Canada lowered Knife River from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $103.00 to $58.00 in a report on Friday, October 9th. DA Davidson assumed coverage on Knife River in a report on Monday, August 24th. They set a “buy” rating and a $85.00 target price for the company. B. Riley Financial reduced their target price on shares of Knife River from $105.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Knife River from $73.00 to $63.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 13th. Finally, Wall Street Zen lowered shares of Knife River from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.29.

View Our Latest Analysis on Knife River

About Knife River

(Get Free Report)

Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.

Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.

Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.

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