Karat Packaging (KRT) Scheduled to Post Quarterly Earnings on Thursday

Karat Packaging (NASDAQ:KRT) is scheduled to be issuing 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 that are interested in registering for 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 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.16). Karat Packaging had a return on equity of 22.54% and a net margin of 8.00%. The business 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 Stock Up 1.5 %

Shares of NASDAQ:KRT opened at $28.63 on Wednesday. Karat Packaging has a 1 year low of $14.26 and a 1 year high of $30.94. The company has a market capitalization of $571.74 million, a PE ratio of 17.77 and a beta of 1.06. The business has a fifty day moving average price of $28.10 and a two-hundred day moving average price of $25.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.49 and a quick ratio of 1.88.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Karat Packaging in a research report on Friday, March 15th. Truist Financial upped their price objective on Karat Packaging from $24.00 to $33.00 and gave the company a “buy” rating in a research note 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.