Wall Street brokerages predict that Kennametal Inc. (NYSE:KMT) will announce $0.38 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kennametal’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.40. Kennametal posted earnings per share of $0.11 during the same quarter last year, which suggests a positive year-over-year growth rate of 245.5%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, November 1st.
On average, analysts expect that Kennametal will report full year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.01 to $2.30. For the next year, analysts expect that the business will report earnings of $2.66 per share, with EPS estimates ranging from $2.45 to $2.80. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Kennametal.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.17. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The business had revenue of $542.45 million for the quarter, compared to analyst estimates of $516.80 million. During the same quarter last year, the business earned $0.11 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis.
A number of brokerages have weighed in on KMT. BidaskClub downgraded shares of Kennametal from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reissued a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. J P Morgan Chase & Co raised shares of Kennametal from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $43.00 in a research note on Thursday, August 17th. Finally, Wells Fargo & Company raised shares of Kennametal from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $26.10 to $43.50 in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $44.75.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.83%. Kennametal’s payout ratio is presently 133.33%.
In related news, VP Charles Michael Jr. Byrnes purchased 1,900 shares of Kennametal stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $33.00 per share, for a total transaction of $62,700.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher Rossi purchased 29,880 shares of Kennametal stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $33.46 per share, for a total transaction of $999,784.80. Following the completion of the purchase, the insider now owns 29,850 shares in the company, valued at approximately $998,781. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Kennametal by 16,832.4% in the 1st quarter. BlackRock Inc. now owns 8,453,008 shares of the industrial products company’s stock valued at $331,612,000 after buying an additional 8,403,086 shares during the last quarter. Vanguard Group Inc. raised its holdings in Kennametal by 18.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after buying an additional 1,263,163 shares during the last quarter. State Street Corp raised its holdings in Kennametal by 4.4% in the 2nd quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock valued at $99,287,000 after buying an additional 112,547 shares during the last quarter. American Century Companies Inc. raised its holdings in Kennametal by 39.4% in the 3rd quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock valued at $96,118,000 after buying an additional 673,230 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Kennametal in the 2nd quarter valued at approximately $76,161,000. Institutional investors own 96.88% of the company’s stock.
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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