Zacks: Analysts Expect Kennametal Inc. (KMT) Will Post Quarterly Sales of $534.92 Million
Equities analysts expect Kennametal Inc. (NYSE:KMT) to announce sales of $534.92 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Kennametal’s earnings. The highest sales estimate is $545.00 million and the lowest is $519.00 million. Kennametal posted sales of $487.57 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The company is scheduled to issue its next earnings results on Wednesday, February 7th.
On average, analysts expect that Kennametal will report full-year sales of $534.92 million for the current financial year, with estimates ranging from $2.20 billion to $2.27 billion. For the next fiscal year, analysts expect that the business will post sales of $2.36 billion per share, with estimates ranging from $2.30 billion to $2.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Kennametal.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The firm had revenue of $542.45 million during the quarter, compared to analysts’ expectations of $516.80 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis.
Several research analysts have recently weighed in on KMT shares. BMO Capital Markets boosted their price target on Kennametal from $45.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 13th. Credit Suisse Group boosted their price target on Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Wednesday, October 4th. ValuEngine cut Kennametal from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Kennametal in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.32.
In related news, VP Robert J. Clemens sold 10,000 shares of Kennametal stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $46.82, for a total value of $468,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven H. Wunning sold 4,445 shares of Kennametal stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $46.63, for a total value of $207,270.35. Following the completion of the sale, the director now directly owns 29,693 shares of the company’s stock, valued at approximately $1,384,584.59. The disclosure for this sale can be found here. Insiders sold 59,570 shares of company stock valued at $2,816,345 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in KMT. Fortaleza Asset Management Inc. bought a new stake in Kennametal during the third quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 272 shares during the period. Hartford Investment Management Co. bought a new stake in Kennametal during the third quarter valued at about $202,000. World Asset Management Inc bought a new stake in Kennametal during the third quarter valued at about $207,000. Finally, Trexquant Investment LP bought a new stake in Kennametal during the third quarter valued at about $207,000. 98.59% of the stock is owned by institutional investors and hedge funds.
Kennametal (KMT) traded up $0.54 during mid-day trading on Friday, hitting $51.92. The stock had a trading volume of 698,565 shares, compared to its average volume of 712,658. Kennametal has a 52-week low of $32.23 and a 52-week high of $52.35. The company has a quick ratio of 1.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4,164.25, a PE ratio of 38.46, a P/E/G ratio of 2.42 and a beta of 1.98.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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