Zacks: Brokerages Anticipate Kennametal Inc. (KMT) to Post $0.69 Earnings Per Share

Brokerages forecast that Kennametal Inc. (NYSE:KMT) will report earnings per share of $0.69 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Kennametal’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.65. Kennametal posted earnings per share of $0.52 during the same quarter last year, which suggests a positive year over year growth rate of 32.7%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 7th.

According to Zacks, analysts expect that Kennametal will report full year earnings of $3.13 per share for the current year, with EPS estimates ranging from $2.91 to $3.30. For the next fiscal year, analysts forecast that the company will report earnings of $3.54 per share, with EPS estimates ranging from $3.28 to $3.90. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Kennametal.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $590.22 million. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS.

KMT has been the subject of a number of research analyst reports. Barclays reiterated a “hold” rating and issued a $44.00 target price on shares of Kennametal in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Tuesday, November 13th. ValuEngine upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. Stifel Nicolaus reiterated a “hold” rating and issued a $47.00 target price on shares of Kennametal in a research report on Thursday, August 9th. Finally, BMO Capital Markets increased their target price on shares of Kennametal from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.58.

In related news, VP Michelle R. Keating sold 988 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $42.20, for a total value of $41,693.60. Following the transaction, the vice president now directly owns 14,676 shares in the company, valued at approximately $619,327.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gaalen Jan Kees Van sold 13,606 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total transaction of $559,070.54. Following the completion of the transaction, the vice president now owns 68,827 shares in the company, valued at $2,828,101.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,594 shares of company stock worth $814,264. 2.00% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Kennametal by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,935,351 shares of the industrial products company’s stock valued at $345,664,000 after buying an additional 32,739 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Kennametal by 0.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 382,185 shares of the industrial products company’s stock valued at $16,648,000 after buying an additional 1,350 shares during the last quarter. Teachers Advisors LLC grew its stake in Kennametal by 2.5% in the 3rd quarter. Teachers Advisors LLC now owns 158,662 shares of the industrial products company’s stock valued at $6,911,000 after buying an additional 3,882 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Kennametal by 56.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,475 shares of the industrial products company’s stock valued at $238,000 after buying an additional 1,965 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Kennametal by 45.7% in the 3rd quarter. AQR Capital Management LLC now owns 17,167 shares of the industrial products company’s stock valued at $748,000 after buying an additional 5,388 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Shares of NYSE:KMT traded down $3.02 during mid-day trading on Thursday, hitting $39.51. The stock had a trading volume of 46,967 shares, compared to its average volume of 814,930. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.55. The company has a market cap of $3.43 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 2.68 and a beta of 2.16. Kennametal has a 12-month low of $32.91 and a 12-month high of $52.52.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Tuesday, November 13th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.02%. Kennametal’s dividend payout ratio (DPR) is 30.19%.

Kennametal Company Profile

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.

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