Knife River (NYSE:KNF) Posts Earnings Results, Misses Expectations By $0.22 EPS

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

Knife River Stock Up 9.7 %

Knife River stock traded up $8.89 during mid-day trading on Wednesday, reaching $100.55. 837,010 shares of the company were exchanged, compared to its average volume of 329,707. The business has a fifty day moving average of $88.14 and a 200 day moving average of $79.03. The firm has a market cap of $5.69 billion, a P/E ratio of 28.81, a PEG ratio of 2.20 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.49 and a current ratio of 2.72. Knife River has a 12-month low of $54.05 and a 12-month high of $103.14.

Analyst Ratings Changes

Several research firms recently issued reports on KNF. Oppenheimer boosted their target price 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. Loop Capital decreased 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 note on Tuesday. Finally, DA Davidson lifted their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.