Knife River (NYSE:KNF) Issues Quarterly Earnings Results

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

Knife River Stock Performance

Shares of KNF traded up $8.89 during midday trading on Wednesday, reaching $100.55. 837,010 shares of the stock were exchanged, compared to its average volume of 329,707. The company 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 stock’s 50 day simple moving average is $88.14 and its 200 day simple moving average is $79.03. Knife River has a twelve month low of $54.05 and a twelve month high of $103.14. The company has a quick ratio of 1.49, a current ratio of 2.72 and a debt-to-equity ratio of 0.46.

Wall Street Analyst Weigh In

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

Knife River Company Profile

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.