Wall Street analysts expect Kennametal Inc. (NYSE:KMT) to report sales of $622.36 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Kennametal’s earnings, with estimates ranging from $616.24 million to $628.00 million. Kennametal posted sales of $607.94 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The company is scheduled to report its next earnings report after the market closes on Monday, May 6th.
On average, analysts expect that Kennametal will report full year sales of $2.46 billion for the current fiscal year, with estimates ranging from $2.45 billion to $2.47 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.55 billion, with estimates ranging from $2.51 billion to $2.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Kennametal.
Kennametal (NYSE:KMT) last posted its earnings results on Monday, February 4th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $587.40 million during the quarter, compared to analyst estimates of $606.76 million. Kennametal had a return on equity of 19.73% and a net margin of 9.50%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS.
A number of research analysts have weighed in on the company. Zacks Investment Research lowered Kennametal from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. ValuEngine lowered Kennametal from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, Barclays raised Kennametal from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $38.00 to $44.00 in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Kennametal currently has a consensus rating of “Hold” and an average target price of $46.75.
KMT stock traded up $0.46 during mid-day trading on Thursday, reaching $41.50. 355,911 shares of the company traded hands, compared to its average volume of 682,218. The company has a quick ratio of 1.31, a current ratio of 2.72 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.41 billion, a PE ratio of 15.66, a PEG ratio of 1.37 and a beta of 2.07. Kennametal has a 52-week low of $30.32 and a 52-week high of $45.10.
In other news, VP Michelle R. Keating sold 1,890 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $37.51, for a total transaction of $70,893.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Patrick S. Watson sold 2,265 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $37.93, for a total value of $85,911.45. The disclosure for this sale can be found here. Insiders have sold 39,501 shares of company stock valued at $1,520,807 in the last three months. 2.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of KMT. Pearl River Capital LLC bought a new stake in Kennametal in the 4th quarter worth approximately $30,000. Captrust Financial Advisors bought a new stake in Kennametal in the 4th quarter worth approximately $44,000. Jane Street Group LLC bought a new stake in Kennametal in the 3rd quarter worth approximately $211,000. Veritable L.P. bought a new stake in Kennametal in the 3rd quarter worth approximately $215,000. Finally, Meeder Asset Management Inc. bought a new stake in Kennametal in the 4th quarter worth approximately $170,000. 99.68% of the stock is owned by institutional investors.
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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