KONE Oyj (OTCMKTS:KNYJY) Hits New 1-Year High After Earnings Beat

KONE Oyj (OTCMKTS:KNYJY) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $30.95 and last traded at $30.93, with a volume of 18002 shares changing hands. The stock had previously closed at $28.83.

The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. KONE Oyj had a net margin of 8.57% and a return on equity of 38.04%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.76 billion.

KONE Oyj Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a dividend of $0.9388 per share. This is a boost from KONE Oyj’s previous dividend of $0.94. The ex-dividend date of this dividend was Friday, March 7th. KONE Oyj’s payout ratio is presently 41.41%.

Analysts Set New Price Targets

Separately, Kepler Capital Markets lowered KONE Oyj from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th.

KONE Oyj Stock Down 0.3 %

The company has a market capitalization of $27.93 billion, a P/E ratio of 31.13, a PEG ratio of 2.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.13 and a quick ratio of 0.89. The company has a 50 day moving average of $28.55 and a 200-day moving average of $26.83.

About KONE Oyj

KONE Oyj, together with its subsidiaries, engages in the elevator and escalator business worldwide. The company provides elevators, escalators, and automatic building doors. It offers maintenance services; and modernization solutions. In addition, the company offers KONE Office Flow, a connected solution that allows for personalized user experiences and touch-free access; health and well-being solutions for elevators, escalators, and doors; KONE Access, an access control system, which is integrated with elevator system and building doors; KONE Destination, a destination control system that reduce waiting and travel times; KONE infotainment, a communication channel for building tenants and visitors; and monitoring solutions that enable real-time inspection of elevators and escalators.