Koninklijke Philips (NYSE:PHG) Shares Gap Down After Earnings Miss

Koninklijke Philips (NYSE:PHG - Get Free Report)'s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $28.31, but opened at $24.79. Koninklijke Philips shares last traded at $24.47, with a volume of 405,188 shares.

The technology company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.01). The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%.

Analyst Ratings Changes

PHG has been the topic of a number of recent analyst reports. UBS Group raised Koninklijke Philips from a "neutral" rating to a "buy" rating in a report on Thursday. Jefferies Financial Group raised Koninklijke Philips from an "underperform" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, StockNews.com raised Koninklijke Philips from a "hold" rating to a "buy" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its holdings in Koninklijke Philips by 724.0% in the 4th quarter. Colonial Trust Co SC now owns 1,409 shares of the technology company's stock valued at $36,000 after buying an additional 1,238 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Koninklijke Philips in the 3rd quarter valued at $54,000. Farther Finance Advisors LLC lifted its position in shares of Koninklijke Philips by 37.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company's stock valued at $54,000 after acquiring an additional 582 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $55,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Koninklijke Philips during the 4th quarter valued at $60,000. 13.67% of the stock is owned by institutional investors and hedge funds.

Koninklijke Philips Trading Up 2.0 %

The business has a 50-day moving average price of $26.25 and a two-hundred day moving average price of $28.14. The stock has a market capitalization of $24.00 billion, a P/E ratio of -30.40, a P/E/G ratio of 0.82 and a beta of 0.77. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.