Kennametal Inc. (NYSE:KMT) Expected to Announce Quarterly Sales of $546.73 Million

Wall Street analysts expect Kennametal Inc. (NYSE:KMT) to post sales of $546.73 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Kennametal’s earnings. The lowest sales estimate is $537.00 million and the highest is $562.40 million. Kennametal reported sales of $586.69 million in the same quarter last year, which would suggest a negative year over year growth rate of 6.8%. The company is scheduled to issue its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Kennametal will report full year sales of $2.35 billion for the current year, with estimates ranging from $2.31 billion to $2.44 billion. For the next financial year, analysts anticipate that the business will report sales of $2.38 billion, with estimates ranging from $2.31 billion to $2.43 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Kennametal.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Kennametal had a net margin of 10.19% and a return on equity of 18.97%. The company had revenue of $603.95 million for the quarter, compared to analyst estimates of $643.95 million. During the same period in the previous year, the business earned $0.87 EPS. The firm’s revenue was down 6.5% on a year-over-year basis.

Several equities analysts recently weighed in on the company. ValuEngine downgraded Kennametal from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Bank of America reduced their target price on Kennametal from $30.00 to $27.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 6th. KeyCorp reduced their target price on Kennametal from $52.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Goldman Sachs Group downgraded Kennametal from a “buy” rating to a “sell” rating and reduced their target price for the stock from $43.00 to $30.00 in a research report on Tuesday, July 16th. Finally, Zacks Investment Research downgraded Kennametal from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.67.

NYSE KMT traded up $0.52 during trading hours on Friday, hitting $28.34. 642,700 shares of the company’s stock were exchanged, compared to its average volume of 731,788. The business’s 50 day moving average is $33.57 and its 200-day moving average is $35.81. Kennametal has a 12-month low of $27.49 and a 12-month high of $45.10. The firm has a market capitalization of $2.31 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.14 and a beta of 2.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.58.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.82%. Kennametal’s dividend payout ratio (DPR) is 26.49%.

In other news, Director Lawrence W. Stranghoener sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $31.98, for a total value of $223,860.00. Following the transaction, the director now directly owns 26,108 shares in the company, valued at approximately $834,933.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. South Dakota Investment Council raised its holdings in shares of Kennametal by 91.6% in the 1st quarter. South Dakota Investment Council now owns 83,350 shares of the industrial products company’s stock worth $3,063,000 after purchasing an additional 39,850 shares during the period. State of Wisconsin Investment Board raised its holdings in shares of Kennametal by 26.0% during the 1st quarter. State of Wisconsin Investment Board now owns 236,900 shares of the industrial products company’s stock valued at $8,706,000 after buying an additional 48,900 shares during the period. Private Harbour Investment Management & Counsel LLC purchased a new stake in shares of Kennametal during the 1st quarter valued at about $362,000. Foundry Partners LLC raised its holdings in shares of Kennametal by 6.7% during the 1st quarter. Foundry Partners LLC now owns 327,666 shares of the industrial products company’s stock valued at $12,042,000 after buying an additional 20,687 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of Kennametal by 0.6% during the 1st quarter. Retirement Systems of Alabama now owns 107,047 shares of the industrial products company’s stock valued at $3,934,000 after buying an additional 601 shares during the period. Institutional investors own 97.83% of the company’s stock.

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. The company operates through three segments: Industrial, Widia, and Infrastructure.

Featured Article: What is the Russell 2000 Index?

Get a free copy of the Zacks research report on Kennametal (KMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.