$0.52 EPS Expected for Kennametal Inc. (KMT) This Quarter
Wall Street analysts expect that Kennametal Inc. (NYSE:KMT) will announce earnings per share (EPS) of $0.52 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Kennametal’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.60. Kennametal posted earnings per share of $0.24 during the same quarter last year, which would indicate a positive year-over-year growth rate of 116.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 7th.
On average, analysts expect that Kennametal will report full-year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.17 to $2.60. For the next financial year, analysts forecast that the company will post earnings of $2.85 per share, with EPS estimates ranging from $2.73 to $3.00. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Kennametal.
Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.17. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The company had revenue of $542.45 million for the quarter, compared to analysts’ expectations of $516.80 million. During the same quarter in the previous year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and set a $45.00 price target on shares of Kennametal in a report on Wednesday, August 23rd. TheStreet upgraded Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price target on shares of Kennametal in a report on Thursday, September 21st. Finally, Credit Suisse Group lifted their price target on Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.23.
Kennametal (NYSE:KMT) opened at $43.78 on Monday. Kennametal has a fifty-two week low of $31.12 and a fifty-two week high of $48.89. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3,548.29, a price-to-earnings ratio of 22.45, a PEG ratio of 2.07 and a beta of 1.96.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.
In other Kennametal news, Director Steven H. Wunning sold 4,445 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $46.63, for a total transaction of $207,270.35. Following the sale, the director now directly owns 29,693 shares in the company, valued at $1,384,584.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Clemens sold 10,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $46.82, for a total transaction of $468,200.00. The disclosure for this sale can be found here. Insiders have sold 15,015 shares of company stock worth $695,563 over the last quarter. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in KMT. Janus Henderson Group PLC acquired a new position in shares of Kennametal during the second quarter worth about $76,161,000. Vanguard Group Inc. grew its position in shares of Kennametal by 18.0% during the second quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock worth $310,219,000 after buying an additional 1,263,163 shares in the last quarter. American Century Companies Inc. grew its position in shares of Kennametal by 69.6% during the second quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock worth $63,969,000 after buying an additional 701,783 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Kennametal by 48.1% during the second quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock worth $57,758,000 after buying an additional 501,090 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Kennametal by 131.7% during the second quarter. Goldman Sachs Group Inc. now owns 841,647 shares of the industrial products company’s stock worth $31,494,000 after buying an additional 478,446 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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