Kennametal Inc. (KMT) Expected to Announce Earnings of $0.64 Per Share

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Brokerages expect Kennametal Inc. (NYSE:KMT) to post earnings of $0.64 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Kennametal’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.69. Kennametal posted earnings per share of $0.55 during the same quarter last year, which suggests a positive year-over-year growth rate of 16.4%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Kennametal will report full year earnings of $3.14 per share for the current year, with EPS estimates ranging from $3.04 to $3.30. For the next year, analysts forecast that the company will report earnings of $3.54 per share, with EPS estimates ranging from $3.27 to $3.84. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Kennametal.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. Kennametal had a return on equity of 18.60% and a net margin of 8.45%. The company had revenue of $646.11 million during the quarter, compared to analysts’ expectations of $631.48 million. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis.

A number of equities analysts have recently issued reports on KMT shares. ValuEngine downgraded Kennametal from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 target price for the company. in a research note on Wednesday. They noted that the move was a valuation call. Stifel Nicolaus cut their target price on Kennametal from $52.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 4th. Zacks Investment Research downgraded Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Finally, Wells Fargo & Co reissued a “market perform” rating on shares of Kennametal in a research note on Thursday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.09.

Shares of Kennametal traded down $0.89, reaching $38.83, during trading hours on Friday, MarketBeat.com reports. 724,119 shares of the company’s stock were exchanged, compared to its average volume of 1,231,327. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.54 and a beta of 1.99. Kennametal has a 1 year low of $32.93 and a 1 year high of $52.52. The company has a current ratio of 1.74, a quick ratio of 1.47 and a debt-to-equity ratio of 0.48.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 28th. Stockholders of record on Thursday, August 16th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, August 15th. Kennametal’s dividend payout ratio (DPR) is 30.19%.

In related news, Director Lawrence W. Stranghoener sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $38.73, for a total value of $271,110.00. Following the completion of the transaction, the director now directly owns 26,108 shares of the company’s stock, valued at approximately $1,011,162.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. purchased a new position in Kennametal in the 1st quarter valued at approximately $201,000. Silvant Capital Management LLC purchased a new position in Kennametal in the 1st quarter valued at approximately $209,000. Koch Industries Inc. purchased a new position in Kennametal in the 1st quarter valued at approximately $220,000. Gideon Capital Advisors Inc. purchased a new position in Kennametal in the 1st quarter valued at approximately $229,000. Finally, Quadrature Capital Ltd purchased a new position in Kennametal in the 1st quarter valued at approximately $237,000.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.

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