Knife River (NYSE:KNF) Posts Quarterly Earnings Results

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

Knife River Stock Up 0.0 %

Knife River stock traded up $0.05 during mid-day trading on Thursday, hitting $100.58. 101,667 shares of the company’s stock were exchanged, compared to its average volume of 383,670. Knife River has a 1-year low of $54.67 and a 1-year high of $103.14. The stock has a 50 day moving average of $88.14 and a two-hundred day moving average of $79.03. The stock has a market cap of $5.69 billion, a P/E ratio of 28.81, a P/E/G ratio of 2.20 and a beta of 0.74. The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KNF shares. DA Davidson lifted their price objective on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Loop Capital lowered their price target on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Oppenheimer increased their price objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.