On September 11, 2023, Reliance Retail Ventures Limited made a significant announcement regarding a new investment. Global investment firm KKR, through one of its affiliates, will be investing a substantial amount of ₹2,069.50 crore in the company. This investment will be made at an equity value of ₹8.361 lakh crore, resulting in an increase of KKR’s equity stake in Reliance Retail from 1.17% to 1.42%.
KKR’s decision to make this follow-on investment in RRVL is a clear indication of their unwavering belief in the market opportunity and Reliance Retail’s impressive business model. This marks KKR’s second investment in Reliance Retail Ventures, with their initial investment of ₹5,550 crore taking place in 2020.
It is worth noting that Reliance Retail Ventures holds the title of being India’s largest retail chain and is an integral part of Reliance Industries Limited, which happens to be the largest private sector company in India. With this new investment from KKR, Reliance Retail Ventures is poised to further solidify its position in the market and continue its impressive growth trajectory.
KKR & Co. Inc.
KKR
Strong Buy
Updated on: 11/09/2023
KKR & Co. Inc. (KKR) Stock Price Increases on September 11, 2023, with Positive Earnings Growth Outlook
On September 11, 2023, KKR & Co. Inc. (KKR) opened at $63.49, slightly higher than the previous day’s closing price of $62.82. Throughout the day, the stock traded within a range of $62.83 to $63.49. The volume of shares traded was 3,542,526, which was higher than the average volume of 3,111,839 over the past three months. The market capitalization of KKR was $53.9 billion.
KKR had experienced a decline of 115.50% in earnings growth in the previous year. However, the company’s earnings growth for the current year was slightly better at -12.35%. Analysts predicted a positive earnings growth of 11.00% over the next five years.
The revenue growth for KKR in the previous year was -71.97%. The price-to-earnings (P/E) ratio for KKR was 49.4. The price-to-sales ratio was 6.58, and the price-to-book ratio was 3.26.
On September 11, 2023, KKR’s stock price experienced a small increase of $0.69, or 2.02%. Other companies in the investment management industry, such as Brookfield Corp and Apollo Global Management, also saw increases in their stock prices on the same day.
KKR is scheduled to report its next earnings on October 31, 2023. Analysts forecasted an earnings per share (EPS) of $0.84 for the current quarter. In the previous year, KKR reported an annual revenue of $5.3 billion, but incurred a net loss of $841.1 million. The net profit margin for the company was -15.90%.
In summary, on September 11, 2023, KKR’s stock price showed a slight increase. Analysts predicted a positive outlook for the company’s future earnings growth. Investors should closely monitor KKR’s financial performance and market conditions to make informed investment decisions.
KKR & Co Inc Stock Performance: Analysts Predict 16.28% Increase and Consensus to Buy
On September 11, 2023, KKR & Co Inc’s stock performance was closely monitored by investors and analysts. According to data from CNN Money, the 16 analysts offering 12-month price forecasts for KKR & Co Inc had a median target of $73.50, with a high estimate of $91.00 and a low estimate of $63.00. This median estimate represented a 16.28% increase from the last price of $63.21.
Furthermore, a consensus among 18 polled investment analysts suggested buying stock in KKR & Co Inc. This rating had remained steady since August, indicating a continued confidence in the company’s prospects.
In terms of financial performance, KKR & Co Inc reported earnings per share of $0.84 for the current quarter, with sales amounting to $1.4 billion. The reporting date for these figures was set for October 31, providing investors with an opportunity to assess the company’s performance in the near future.
Overall, the information available on September 11, 2023, suggested a positive outlook for KKR & Co Inc’s stock performance. With a median price target indicating a potential increase of 16.28% and a consensus to buy the stock, investors were likely optimistic about the company’s prospects. However, it is important for investors to conduct their own research and consider various factors before making any investment decisions.
