Analysts expect that Kennametal Inc. (NYSE:KMT) will announce earnings per share of $0.20 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Kennametal’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.15. Kennametal posted earnings per share of $0.71 during the same quarter last year, which would suggest a negative year over year growth rate of 71.8%. The firm is scheduled to report its next quarterly earnings report on Monday, February 3rd.
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On average, analysts expect that Kennametal will report full year earnings of $1.78 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.83. For the next fiscal year, analysts expect that the company will report earnings of $2.42 per share, with EPS estimates ranging from $2.20 to $2.60. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Kennametal.
Kennametal (NYSE:KMT) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Kennametal had a return on equity of 15.40% and a net margin of 8.31%. The business had revenue of $518.09 million during the quarter, compared to the consensus estimate of $517.49 million. During the same period in the previous year, the business earned $0.70 EPS. The business’s quarterly revenue was down 11.7% on a year-over-year basis.
Several equities analysts recently issued reports on KMT shares. Longbow Research cut Kennametal from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. BMO Capital Markets dropped their price target on Kennametal from $30.50 to $25.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Co dropped their price target on Kennametal from $34.00 to $32.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Bank of America dropped their price target on Kennametal from $30.00 to $27.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 6th. Finally, TheStreet cut Kennametal from a “b-” rating to a “c+” rating in a research report on Tuesday, August 27th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $32.75.
Shares of Kennametal stock traded down $0.37 on Thursday, hitting $34.00. The stock had a trading volume of 452,977 shares, compared to its average volume of 800,553. Kennametal has a 52-week low of $27.49 and a 52-week high of $43.98. The company has a current ratio of 2.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 2.23 and a beta of 2.28. The company’s 50 day moving average price is $30.87 and its 200 day moving average price is $32.81.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, November 8th. Kennametal’s payout ratio is 26.49%.
In other Kennametal news, Director Cindy L. Davis sold 4,644 shares of the business’s stock in a transaction that occurred on 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 owns 11,529 shares in the company, valued at approximately $393,715.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.48% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manchester Financial Inc. acquired a new position in Kennametal during the 2nd quarter worth approximately $30,000. Advisory Services Network LLC purchased a new stake in shares of Kennametal during the 2nd quarter worth approximately $31,000. Tower Research Capital LLC TRC purchased a new stake in shares of Kennametal during the 2nd quarter worth approximately $52,000. Quadrant Capital Group LLC boosted its stake in shares of Kennametal by 61.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,939 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 735 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Kennametal during the 2nd quarter worth approximately $72,000. Institutional investors own 98.05% of the company’s stock.
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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