Cormark Has Negative View of Kraken Robotics FY2024 Earnings

Kraken Robotics Inc. (CVE:PNG) – Equities research analysts at Cormark cut their FY2024 earnings per share estimates for shares of Kraken Robotics in a report released on Monday, October 28th. Cormark analyst N. Boychuk now anticipates that the company will earn $0.05 per share for the year, down from their prior estimate of $0.06. The consensus estimate for Kraken Robotics’ current full-year earnings is $0.07 per share. Cormark also issued estimates for Kraken Robotics’ FY2026 earnings at $0.16 EPS.

Kraken Robotics (CVE:PNG) last posted its quarterly earnings results on Thursday, August 22nd. The company reported C$0.01 earnings per share for the quarter. Kraken Robotics had a return on equity of 23.24% and a net margin of 10.51%. The business had revenue of C$22.76 million for the quarter, compared to the consensus estimate of C$24.60 million.

Kraken Robotics Stock Performance

Shares of Kraken Robotics stock opened at C$2.02 on Tuesday. The company has a market cap of C$464.86 million, a PE ratio of 40.40 and a beta of 1.15. Kraken Robotics has a 52 week low of C$0.45 and a 52 week high of C$2.11. The business has a 50 day moving average price of C$1.67 and a 200-day moving average price of C$1.29. The company has a quick ratio of 0.64, a current ratio of 2.71 and a debt-to-equity ratio of 37.39.

Insider Transactions at Kraken Robotics

In other news, Senior Officer David Shea sold 142,500 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of C$1.57, for a total value of C$223,782.00. Company insiders own 10.13% of the company’s stock.

About Kraken Robotics

Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally.