KORE Group Holdings, Inc. (NYSE:KORE) Expected to Post Earnings of -$0.08 Per Share

Wall Street analysts expect KORE Group Holdings, Inc. (NYSE:KORE – Get Rating) to report earnings per share (EPS) of ($0.08) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for KORE Group’s earnings, with estimates ranging from ($0.11) to ($0.05). The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that KORE Group will report full-year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.46) to ($0.21). For the next financial year, analysts forecast that the firm will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.29) to ($0.06). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for KORE Group.

KORE Group (NYSE:KORE – Get Rating) last posted its quarterly earnings data on Tuesday, March 29th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The firm had revenue of $64.30 million during the quarter, compared to the consensus estimate of $58.20 million.

Several equities research analysts have recently weighed in on KORE shares. Deutsche Bank Aktiengesellschaft reduced their price objective on KORE Group from $7.50 to $6.00 in a research report on Tuesday. Cowen cut their target price on KORE Group from $18.00 to $12.50 and set an “outperform” rating for the company in a research note on Thursday, March 10th. Morgan Stanley cut their target price on KORE Group to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday. Zacks Investment Research lowered KORE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Finally, Roth Capital initiated coverage on KORE Group in a research note on Thursday, January 20th. They issued a “buy” rating and a $13.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.65.

KORE opened at $4.36 on Thursday. KORE Group has a 1-year low of $3.26 and a 1-year high of $9.50. The business has a 50 day moving average of $5.13 and a 200-day moving average of $5.97.

A number of institutional investors have recently added to or reduced their stakes in the business. Liberty Mutual Group Asset Management Inc. raised its stake in KORE Group by 7.0% during the first quarter. Liberty Mutual Group Asset Management Inc. now owns 1,598,000 shares of the company’s stock worth $9,588,000 after acquiring an additional 104,289 shares in the last quarter. Northwestern Mutual Investment Management Company LLC bought a new stake in shares of KORE Group during the fourth quarter worth $8,153,000. Philosophy Capital Management LLC grew its holdings in shares of KORE Group by 28.5% during the first quarter. Philosophy Capital Management LLC now owns 802,406 shares of the company’s stock worth $4,814,000 after purchasing an additional 177,824 shares during the last quarter. Owl Creek Asset Management L.P. bought a new stake in shares of KORE Group during the fourth quarter worth $3,033,000. Finally, Rubric Capital Management LP bought a new stake in shares of KORE Group during the fourth quarter worth $3,006,000. Hedge funds and other institutional investors own 65.83% of the company’s stock.

About KORE Group (Get Rating)

KORE Group Holdings, Inc provides Internet of Things (IoT) services and solutions worldwide. It offers connectivity, location-based, device solutions, and managed and professional services that are used in the development and support of IoT technology for the Machine-to-Machine market. The company provides Connectivity-as-a-Service; IoT solutions and analytics to fleet tracking companies; and asset monitoring, communications, and industrial IoT services.

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