Karat Packaging (KRT) to Release Quarterly Earnings on Thursday

Karat Packaging (NASDAQ:KRT) will issue its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Karat Packaging has set its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.16). Karat Packaging had a net margin of 8.00% and a return on equity of 22.54%. The company had revenue of $95.58 million for the quarter, compared to the consensus estimate of $95.51 million. On average, analysts expect Karat Packaging to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Karat Packaging Price Performance

Shares of NASDAQ:KRT opened at $27.31 on Thursday. Karat Packaging has a 1-year low of $13.43 and a 1-year high of $30.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.49 and a quick ratio of 1.88. The business has a fifty day moving average price of $28.10 and a 200-day moving average price of $24.89. The company has a market capitalization of $545.44 million, a PE ratio of 16.86 and a beta of 1.05.

Karat Packaging Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, February 20th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 4.39%. Karat Packaging’s dividend payout ratio (DPR) is presently 74.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KRT shares. Stifel Nicolaus restated a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Karat Packaging in a report on Friday, March 15th. Truist Financial raised their price target on Karat Packaging from $24.00 to $33.00 and gave the company a “buy” rating in a report on Friday, March 15th.

About Karat Packaging

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.