Wall Street analysts expect Kennametal Inc. (NYSE:KMT) to announce $585.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Kennametal’s earnings. The lowest sales estimate is $580.30 million and the highest is $595.00 million. Kennametal reported sales of $542.45 million in the same quarter last year, which would suggest a positive year over year growth rate of 8%. The business is scheduled to issue its next earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Kennametal will report full year sales of $2.53 billion for the current financial year, with estimates ranging from $2.50 billion to $2.54 billion. For the next year, analysts expect that the company will post sales of $2.64 billion, with estimates ranging from $2.57 billion to $2.70 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Kennametal.

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

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Barclays reiterated a “hold” rating and set a $44.00 target price on shares of Kennametal in a research report on Wednesday, August 8th. BMO Capital Markets reiterated a “hold” rating and set a $42.00 target price on shares of Kennametal in a research report on Thursday, July 19th. Wells Fargo & Co reiterated a “market perform” rating on shares of Kennametal in a research report on Thursday, June 28th. Finally, Longbow Research raised shares of Kennametal from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $49.17.

Shares of Kennametal stock opened at $43.78 on Thursday. The stock has a market cap of $3.67 billion, a P/E ratio of 16.97, a PEG ratio of 2.85 and a beta of 2.05. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 0.48. Kennametal has a 12-month low of $34.37 and a 12-month high of $52.52.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 28th. Shareholders of record on Thursday, August 16th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, August 15th. Kennametal’s dividend payout ratio is currently 30.19%.

In other Kennametal news, VP Michelle R. Keating sold 988 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $42.20, for a total transaction of $41,693.60. Following the sale, the vice president now owns 14,676 shares of the company’s stock, valued at approximately $619,327.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Gaalen Jan Kees Van sold 13,606 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $41.09, for a total transaction of $559,070.54. Following the sale, the vice president now directly owns 68,827 shares in the company, valued at approximately $2,828,101.43. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Kennametal by 3.3% in the 2nd quarter. BlackRock Inc. now owns 9,150,075 shares of the industrial products company’s stock valued at $328,487,000 after purchasing an additional 296,422 shares during the last quarter. Ariel Investments LLC boosted its stake in shares of Kennametal by 5.3% in the 2nd quarter. Ariel Investments LLC now owns 5,459,382 shares of the industrial products company’s stock valued at $195,992,000 after purchasing an additional 272,428 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Kennametal by 11.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,971,295 shares of the industrial products company’s stock valued at $106,669,000 after purchasing an additional 308,247 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kennametal by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,189,690 shares of the industrial products company’s stock valued at $78,611,000 after purchasing an additional 119,160 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Kennametal by 94.0% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,120,564 shares of the industrial products company’s stock valued at $76,128,000 after purchasing an additional 1,027,424 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

About Kennametal

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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