Karat Packaging (NASDAQ:KRT) Posts Quarterly Earnings Results

Karat Packaging (NASDAQ:KRT - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14), Zacks reports. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%.

Karat Packaging Stock Down 2.0 %

NASDAQ KRT traded down $0.59 during trading on Thursday, hitting $28.95. The company's stock had a trading volume of 24,729 shares, compared to its average volume of 33,032. Karat Packaging has a fifty-two week low of $23.10 and a fifty-two week high of $33.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82. The company has a market cap of $579.69 million, a PE ratio of 20.68 and a beta of 1.08. The business's 50 day simple moving average is $30.25 and its 200-day simple moving average is $28.77.

Karat Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 24th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Karat Packaging's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 6.22%. Karat Packaging's dividend payout ratio (DPR) is 128.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Karat Packaging from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. William Blair cut Karat Packaging from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

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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.

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