Brokerages expect that Kennametal Inc. (NYSE:KMT) will announce sales of $598.85 million for the current quarter, according to Zacks. Six analysts have made estimates for Kennametal’s earnings. The lowest sales estimate is $582.90 million and the highest is $613.33 million. Kennametal reported sales of $528.63 million in the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Kennametal will report full-year sales of $598.85 million for the current financial year, with estimates ranging from $2.32 billion to $2.37 billion. For the next year, analysts forecast that the business will report sales of $2.47 billion per share, with estimates ranging from $2.44 billion to $2.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Kennametal.
Kennametal (NYSE:KMT) last issued its earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The firm had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. During the same period in the previous year, the company earned $0.24 EPS. Kennametal’s revenue for the quarter was up 17.0% on a year-over-year basis.
A number of equities analysts have issued reports on KMT shares. Stifel Nicolaus upped their target price on Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Sunday, February 4th. KeyCorp reaffirmed a “buy” rating and issued a $56.00 target price on shares of Kennametal in a report on Wednesday, January 10th. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Kennametal in a report on Thursday, January 18th. Barrington Research reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Kennametal in a report on Thursday, February 8th. Finally, JPMorgan Chase cut Kennametal from an “overweight” rating to a “neutral” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $49.95.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. grew its position in shares of Kennametal by 0.6% in the 4th quarter. American International Group Inc. now owns 220,109 shares of the industrial products company’s stock valued at $10,655,000 after buying an additional 1,216 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kennametal by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock valued at $243,000 after buying an additional 1,463 shares during the last quarter. Granahan Investment Management Inc. MA grew its position in shares of Kennametal by 1.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 94,429 shares of the industrial products company’s stock valued at $3,809,000 after buying an additional 1,477 shares during the last quarter. Strs Ohio grew its position in shares of Kennametal by 23.5% in the 4th quarter. Strs Ohio now owns 10,500 shares of the industrial products company’s stock valued at $508,000 after buying an additional 2,000 shares during the last quarter. Finally, Aperio Group LLC grew its position in shares of Kennametal by 9.3% in the 4th quarter. Aperio Group LLC now owns 26,994 shares of the industrial products company’s stock valued at $1,307,000 after buying an additional 2,293 shares during the last quarter. Hedge funds and other institutional investors own 99.18% of the company’s stock.
Shares of KMT opened at $39.21 on Friday. Kennametal has a 12-month low of $32.23 and a 12-month high of $52.52. The company has a quick ratio of 1.52, a current ratio of 2.77 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3,327.38, a price-to-earnings ratio of 25.80, a PEG ratio of 3.18 and a beta of 2.03.
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Kennametal Company Profile
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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