Kennametal Inc. (KMT) Expected to Post Quarterly Sales of $583.16 Million

Brokerages forecast that Kennametal Inc. (NYSE:KMT) will post sales of $583.16 million for the current quarter, Zacks reports. Five analysts have provided estimates for Kennametal’s earnings, with the highest sales estimate coming in at $595.00 million and the lowest estimate coming in at $575.30 million. Kennametal reported sales of $542.45 million in the same quarter last year, which indicates a positive year over year growth rate of 7.5%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Kennametal will report full year sales of $2.51 billion for the current year, with estimates ranging from $2.47 billion to $2.54 billion. For the next financial year, analysts expect that the company will post sales of $2.65 billion per share, with estimates ranging from $2.62 billion to $2.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Kennametal.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.87 EPS for the quarter, beating 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 business posted $0.56 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year.



KMT has been the subject of several research analyst reports. Wells Fargo & Co restated an “outperform” rating and issued a $48.00 price objective (down from $53.00) on shares of Kennametal in a research note on Thursday, April 19th. They noted that the move was a valuation call. ValuEngine cut Kennametal from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. BMO Capital Markets restated a “hold” rating and issued a $46.00 price objective on shares of Kennametal in a research note on Wednesday, April 18th. Stifel Nicolaus reduced their price objective on Kennametal from $52.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 4th. Finally, Zacks Investment Research cut Kennametal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Kennametal currently has an average rating of “Hold” and a consensus target price of $49.09.

Kennametal traded down $0.89, reaching $38.83, during midday trading on Tuesday, MarketBeat Ratings reports. The company’s stock had a trading volume of 724,119 shares, compared to its average volume of 1,231,327. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.47 and a current ratio of 1.74. Kennametal has a 52-week low of $32.93 and a 52-week high of $52.52. The stock has a market cap of $3.24 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 2.54 and a beta of 1.99.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 28th. Investors of record on Thursday, August 16th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend 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 dated Monday, June 11th. The stock was sold at an average price of $38.73, for a total transaction of $271,110.00. Following the sale, the director now directly owns 26,108 shares of the company’s stock, valued at $1,011,162.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of KMT. Victory Capital Management Inc. boosted its stake in shares of Kennametal by 109.9% in the first quarter. Victory Capital Management Inc. now owns 2,121,043 shares of the industrial products company’s stock worth $85,182,000 after acquiring an additional 1,110,683 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Kennametal by 94.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,120,564 shares of the industrial products company’s stock worth $76,128,000 after acquiring an additional 1,027,424 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Kennametal by 195.4% in the second quarter. Eagle Asset Management Inc. now owns 1,100,769 shares of the industrial products company’s stock worth $39,517,000 after acquiring an additional 728,189 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of Kennametal in the second quarter worth approximately $24,187,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Kennametal in the second quarter worth approximately $15,768,000.

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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