Brokerages expect Kennametal Inc. (NYSE:KMT) to announce $547.53 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kennametal’s earnings. The lowest sales estimate is $540.00 million and the highest is $562.40 million. Kennametal reported sales of $586.69 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6.7%. The business is expected to report its next earnings results on Monday, November 4th.

On average, analysts expect that Kennametal will report full-year sales of $2.32 billion for the current financial year, with estimates ranging from $2.30 billion to $2.36 billion. For the next year, analysts forecast that the company will post sales of $2.37 billion, with estimates ranging from $2.31 billion to $2.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Kennametal.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Kennametal had a net margin of 10.19% and a return on equity of 18.97%. The firm had revenue of $603.95 million for the quarter, compared to the consensus estimate of $643.95 million. During the same period last year, the company posted $0.87 earnings per share. Kennametal’s revenue for the quarter was down 6.5% on a year-over-year basis.

Several brokerages have weighed in on KMT. Goldman Sachs Group lowered Kennametal from a “buy” rating to a “sell” rating and reduced their price objective for the company from $43.00 to $30.00 in a report on Tuesday, July 16th. Wells Fargo & Co reduced their price objective on Kennametal from $34.00 to $32.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered Kennametal from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Thursday, October 10th. Finally, TheStreet lowered Kennametal from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $33.44.

In other news, Director Cindy L. Davis sold 4,644 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $34.15, for a total value of $158,592.60. Following the completion of the transaction, the director now directly owns 11,529 shares of the company’s stock, valued at $393,715.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.48% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Manchester Financial Inc. purchased a new stake in shares of Kennametal in the second quarter worth $30,000. Advisory Services Network LLC purchased a new stake in Kennametal during the second quarter valued at about $31,000. Tower Research Capital LLC TRC purchased a new stake in Kennametal during the second quarter valued at about $52,000. Quantamental Technologies LLC purchased a new stake in Kennametal during the second quarter valued at about $72,000. Finally, Point72 Asset Management L.P. purchased a new stake in Kennametal during the second quarter valued at about $100,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

NYSE KMT traded up $0.88 on Thursday, hitting $30.71. 938,178 shares of the stock traded hands, compared to its average volume of 641,660. The business’s fifty day moving average is $30.30 and its two-hundred day moving average is $33.61. Kennametal has a 12 month low of $27.49 and a 12 month high of $43.98. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.25 and a beta of 2.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.58.

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. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Earnings History and Estimates for Kennametal (NYSE:KMT)

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