Knife River (NYSE:KNF) Announces Quarterly Earnings Results

Knife River (NYSE:KNF) announced 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 company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. Knife River updated its FY 2024 guidance to EPS.

Knife River Stock Up 2.8 %

Shares of Knife River stock opened at $91.76 on Wednesday. Knife River has a 52-week low of $54.05 and a 52-week high of $99.54. The company has a 50 day moving average of $87.66 and a 200 day moving average of $78.88. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $5.19 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.40 and a beta of 0.74.

Wall Street Analyst Weigh In

KNF has been the subject of several research analyst reports. Oppenheimer increased their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Loop Capital lowered 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Knife River currently has an average rating of “Moderate Buy” and a consensus price target of $90.40.

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.