Key Points
- CEO Jon Kemp sold 5,655 shares on Dec. 11 at an average price of $85.01 for about $480,731, reducing his stake by 5.96% to 89,177 shares (≈$7.58M).
- Company announced a $0.06 per share dividend to be paid Dec. 15 (record date Dec. 1, ex-dividend Nov. 28), which the article reports as a 31.0% yield.
- Qnity beat earnings expectations, reporting $1.01 EPS vs. $0.69 expected and $1.28B revenue vs. $1.23B expected, and Wall Street's consensus is a "Moderate Buy" with an average price target of $104.40 while the stock opened at $78.75 and was down 7.1%.
Qnity Electronics, Inc. (NYSE:Q - Get Free Report) VP Michael Goss sold 1,895 shares of Qnity Electronics stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $84.79, for a total value of $160,677.05. Following the completion of the transaction, the vice president owned 13,305 shares of the company's stock, valued at $1,128,130.95. The trade was a 12.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Qnity Electronics Stock Down 7.1%
Shares of NYSE:Q opened at $78.75 on Friday. The company has a market capitalization of $16.50 billion and a P/E ratio of 77.97. Qnity Electronics, Inc. has a fifty-two week low of $70.50 and a fifty-two week high of $105.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.78.
Qnity Electronics (NYSE:Q - Get Free Report) last posted its quarterly earnings results on Tuesday, November 18th. The premier technology solutions leader reported $1.01 EPS for the quarter, topping the consensus estimate of $0.69 by $0.32. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.23 billion.
Qnity Electronics Dividend Announcement
The firm also recently announced a dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.06 dividend. This represents a yield of 31.0%. The ex-dividend date of this dividend is Friday, November 28th. Qnity Electronics's dividend payout ratio is 31.68%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on Q. Zacks Research raised Qnity Electronics to a "hold" rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Qnity Electronics in a research report on Monday, November 24th. They set a "buy" rating and a $92.00 target price on the stock. Mizuho lowered their price target on Qnity Electronics from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Thursday, November 20th. New Street Research set a $110.00 price objective on shares of Qnity Electronics in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of Qnity Electronics to a "hold" rating in a report on Friday, November 28th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Qnity Electronics has an average rating of "Moderate Buy" and a consensus target price of $104.40.
Get Our Latest Stock Analysis on Qnity Electronics
About Qnity Electronics
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Qnity Electronics Inc is a premier technology solution provider across the semiconductor value chain. Qnity Electronics Inc is based in WILMINGTON, Del.
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