Brokerages predict that Kennametal Inc. (NYSE:KMT) will announce $0.80 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Kennametal’s earnings. The lowest EPS estimate is $0.74 and the highest is $0.83. Kennametal reported earnings per share of $0.70 in the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The company is scheduled to announce its next earnings report after the market closes on Monday, May 6th.
On average, analysts expect that Kennametal will report full year earnings of $3.13 per share for the current year, with EPS estimates ranging from $3.02 to $3.20. For the next fiscal year, analysts forecast that the business will post earnings of $3.49 per share, with EPS estimates ranging from $3.28 to $3.75. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Kennametal.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Monday, February 4th. The industrial products company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $587.40 million for the quarter, compared to the consensus estimate of $606.76 million. Kennametal had a return on equity of 19.73% and a net margin of 9.50%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS.
KMT has been the topic of several recent analyst reports. Barclays cut their target price on Kennametal from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th. ValuEngine upgraded Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Zacks Investment Research downgraded Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Kennametal currently has an average rating of “Hold” and an average price target of $46.89.
In related news, VP Peter A. Dragich sold 35,346 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $38.59, for a total value of $1,364,002.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michelle R. Keating sold 1,890 shares of the firm’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $37.51, for a total value of $70,893.90. The disclosure for this sale can be found here. Insiders have sold a total of 39,501 shares of company stock worth $1,520,807 over the last three months. Insiders own 2.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in KMT. Pearl River Capital LLC bought a new position in Kennametal in the 4th quarter worth $30,000. Oregon Public Employees Retirement Fund increased its stake in Kennametal by 3,277.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock worth $33,000 after buying an additional 1,055,775 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Kennametal in the 4th quarter worth $44,000. Meeder Asset Management Inc. purchased a new stake in Kennametal in the 4th quarter worth $170,000. Finally, LS Investment Advisors LLC increased its stake in Kennametal by 32.1% in the 4th quarter. LS Investment Advisors LLC now owns 6,010 shares of the industrial products company’s stock worth $200,000 after buying an additional 1,461 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.
Kennametal stock opened at $40.17 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 1.31 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3.29 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.32 and a beta of 2.07. Kennametal has a twelve month low of $30.32 and a twelve month high of $45.10.
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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