Knife River (NYSE:KNF) Issues Quarterly Earnings Results

Knife River (NYSE:KNF) announced its quarterly earnings data on Tuesday. The company reported $2.43 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.15), Zacks reports. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.30 billion. Knife River had a return on equity of 8.73% and a net margin of 4.23%. Knife River’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.52 earnings per share.

Knife River Price Performance

Shares of KNF opened at $58.42 on Tuesday. The firm has a market cap of $3.32 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.26 and a beta of 0.46. Knife River has a 52-week low of $47.79 and a 52-week high of $96.28. The business’s 50 day moving average price is $55.57 and its two-hundred day moving average price is $73.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66.

Analyst Upgrades and Downgrades

KNF has been the subject of several recent research reports. DA Davidson started coverage on Knife River in a research note on Monday, August 24th. They issued a “buy” rating and a $85.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Knife River from $73.00 to $63.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Citigroup cut shares of Knife River to a “cautious” rating in a research report on Wednesday, September 9th. Royal Bank Of Canada downgraded Knife River from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $103.00 to $58.00 in a report on Friday, October 9th. Finally, Wolfe Research raised Knife River from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.29.

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.

Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.

Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.