$533.50 Million in Sales Expected for Kennametal Inc. (KMT) This Quarter

Wall Street brokerages predict that Kennametal Inc. (NYSE:KMT) will announce $533.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Kennametal’s earnings, with the lowest sales estimate coming in at $519.00 million and the highest estimate coming in at $545.00 million. Kennametal posted sales of $487.57 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The company is expected to announce its next quarterly earnings results on Wednesday, February 7th.

On average, analysts expect that Kennametal will report full year sales of $533.50 million for the current fiscal year, with estimates ranging from $2.20 billion to $2.27 billion. For the next financial year, analysts forecast that the business will report sales of $2.35 billion per share, with estimates ranging from $2.30 billion to $2.40 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Kennametal.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The company had revenue of $542.45 million during the quarter, compared to analysts’ expectations of $516.80 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis.

KMT has been the subject of a number of research analyst reports. TheStreet upgraded Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Jefferies Group LLC restated a “buy” rating and set a $50.00 price objective on shares of Kennametal in a report on Friday, October 20th. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price target on shares of Kennametal in a research note on Wednesday, August 23rd. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.23.

COPYRIGHT VIOLATION NOTICE: “$533.50 Million in Sales Expected for Kennametal Inc. (KMT) This Quarter” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2017/11/22/533-50-million-in-sales-expected-for-kennametal-inc-kmt-this-quarter.html.

In other Kennametal news, VP Robert J. Clemens sold 10,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $46.82, for a total transaction of $468,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven H. Wunning sold 4,445 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $46.63, for a total value of $207,270.35. Following the sale, the director now owns 29,693 shares of the company’s stock, valued at $1,384,584.59. The disclosure for this sale can be found here. Insiders have sold 15,015 shares of company stock valued at $695,563 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Kennametal by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,756 shares of the industrial products company’s stock worth $440,000 after buying an additional 42 shares in the last quarter. Affinity Wealth Management increased its holdings in shares of Kennametal by 1.5% during the second quarter. Affinity Wealth Management now owns 8,780 shares of the industrial products company’s stock worth $328,000 after buying an additional 130 shares in the last quarter. Oakbrook Investments LLC increased its holdings in shares of Kennametal by 2.6% during the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock worth $223,000 after buying an additional 150 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Kennametal by 1.3% during the second quarter. PNC Financial Services Group Inc. now owns 16,606 shares of the industrial products company’s stock worth $622,000 after buying an additional 215 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Kennametal by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 6,434 shares of the industrial products company’s stock worth $241,000 after buying an additional 250 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

Shares of Kennametal (KMT) opened at $44.74 on Wednesday. Kennametal has a 1-year low of $31.12 and a 1-year high of $48.89. The stock has a market capitalization of $3,573.41, a P/E ratio of 22.61, a PEG ratio of 2.09 and a beta of 1.96. 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 firm also recently announced 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. This represents a $0.80 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, November 13th. Kennametal’s payout ratio is presently 59.26%.

About Kennametal

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.

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)

What are top analysts saying about Kennametal Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Kennametal Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit