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

Shares of Koninklijke Philips (NYSE:PHG) gapped down prior to trading on Wednesday following a dissappointing 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 changing hands.

The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). Koninklijke Philips had a negative net margin of 1.83% and a positive return on equity of 10.11%.

Wall Street Analyst Weigh In

PHG has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. StockNews.com downgraded Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Koninklijke Philips presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Koninklijke Philips

Hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in Koninklijke Philips by 0.6% in the third quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock valued at $200,859,000 after purchasing an additional 35,935 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Koninklijke Philips by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,051 shares of the technology company’s stock valued at $108,624,000 after purchasing an additional 85,994 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Koninklijke Philips by 87.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock worth $56,266,000 after purchasing an additional 1,038,321 shares during the period. Northern Trust Corp grew its holdings in shares of Koninklijke Philips by 36.6% in the 4th quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company’s stock valued at $40,734,000 after buying an additional 430,757 shares during the period. Finally, Causeway Capital Management LLC lifted its holdings in Koninklijke Philips by 24.0% during the fourth quarter. Causeway Capital Management LLC now owns 1,566,850 shares of the technology company’s stock worth $39,673,000 after acquiring an additional 303,428 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

The stock has a market capitalization of $23.09 billion, a price-to-earnings ratio of -58.45, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. The stock’s 50 day moving average is $26.28 and its two-hundred day moving average is $28.20. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

About Koninklijke Philips

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.