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

Equities research analysts expect that Kennametal Inc. (NYSE:KMT) will announce $583.16 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Kennametal’s earnings, with the lowest sales estimate coming in at $575.30 million and the highest estimate coming in at $595.00 million. Kennametal reported sales of $542.45 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The firm is expected to announce its next earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Kennametal will report full-year sales of $2.51 billion for the current financial year, with estimates ranging from $2.47 billion to $2.54 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.65 billion per share, with estimates ranging from $2.62 billion to $2.70 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Kennametal.

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



A number of equities analysts have issued reports on KMT shares. ValuEngine cut shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 target price on the stock. in a report on Wednesday. They noted that the move was a valuation call. Stifel Nicolaus cut their target price on shares of Kennametal from $52.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 4th. Zacks Investment Research lowered shares of Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Finally, Wells Fargo & Co reiterated a “market perform” rating on shares of Kennametal in a report on Thursday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Kennametal has an average rating of “Hold” and a consensus target price of $49.09.

In other Kennametal news, Director Lawrence W. Stranghoener sold 7,000 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $38.73, for a total value of $271,110.00. Following the sale, the director now directly owns 26,108 shares in the company, valued at $1,011,162.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in Kennametal by 728.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 30,305 shares of the industrial products company’s stock valued at $1,088,000 after buying an additional 26,645 shares during the last quarter. Ariel Investments LLC increased its stake in 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 buying an additional 272,428 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 119,160 shares during the last quarter. Legal & General Group Plc increased its stake in Kennametal by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 103,427 shares of the industrial products company’s stock valued at $3,713,000 after buying an additional 1,364 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in 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 buying an additional 308,247 shares during the last quarter.

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. 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 PEG ratio of 2.54 and a beta of 1.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.47 and a current ratio of 1.74.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 28th. Shareholders of record on Thursday, August 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $0.80 annualized dividend and a yield of 2.06%. Kennametal’s dividend payout ratio (DPR) is presently 30.19%.

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. It operates through three segments: Industrial, Widia, and Infrastructure.

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