$0.47 Earnings Per Share Expected for Kennametal Inc. (NYSE:KMT) This Quarter

Wall Street brokerages expect Kennametal Inc. (NYSE:KMT) to announce earnings per share (EPS) of $0.47 for the current quarter, Zacks reports. Five analysts have made estimates for Kennametal’s earnings, with estimates ranging from $0.44 to $0.51. Kennametal posted earnings per share of $0.70 during the same quarter last year, which suggests a negative year over year growth rate of 32.9%. The company is scheduled to issue its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Kennametal will report full year earnings of $2.87 per share for the current year, with EPS estimates ranging from $2.80 to $2.95. For the next year, analysts forecast that the firm will post earnings of $3.21 per share, with EPS estimates ranging from $3.05 to $3.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Kennametal.

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

Several research firms have weighed in on KMT. Longbow Research cut Kennametal from a “buy” rating to a “neutral” rating in a report on Tuesday. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co lowered their price target on Kennametal from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Goldman Sachs Group cut Kennametal from a “buy” rating to a “sell” rating and lowered their price target for the company from $43.00 to $30.00 in a report on Tuesday, July 16th. Finally, BMO Capital Markets lowered their price target on Kennametal from $30.50 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Kennametal presently has a consensus rating of “Hold” and a consensus price target of $32.75.

Shares of NYSE:KMT traded up $1.10 on Tuesday, hitting $30.90. The company’s stock had a trading volume of 3,325,645 shares, compared to its average volume of 777,886. The company has a 50-day simple moving average of $30.35 and a 200 day simple moving average of $33.47. Kennametal has a 1 year low of $27.49 and a 1 year high of $43.98. The company has a market capitalization of $2.54 billion, a PE ratio of 10.23, a PEG ratio of 1.29 and a beta of 2.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.58 and a quick ratio of 1.34.

In related news, Director Cindy L. Davis sold 4,644 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $34.15, for a total transaction of $158,592.60. Following the transaction, the director now directly owns 11,529 shares of the company’s stock, valued at approximately $393,715.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.48% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Manchester Financial Inc. purchased a new position in shares of Kennametal during the 2nd quarter valued at about $30,000. Advisory Services Network LLC purchased a new position in shares of Kennametal during the 2nd quarter valued at about $31,000. Tower Research Capital LLC TRC purchased a new position in shares of Kennametal during the 2nd quarter valued at about $52,000. Quantamental Technologies LLC purchased a new position in shares of Kennametal during the 2nd quarter valued at about $72,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Kennametal during the 2nd quarter valued at about $100,000. 97.99% of the stock is currently owned by institutional investors.

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.

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