Equities research analysts predict that Kennametal Inc. (NYSE:KMT) will announce $485.91 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Kennametal’s earnings. The highest sales estimate is $490.00 million and the lowest is $484.00 million. Kennametal reported sales of $400.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 21.4%. The firm is scheduled to report its next earnings results on Monday, November 1st.
On average, analysts expect that Kennametal will report full year sales of $2.11 billion for the current fiscal year, with estimates ranging from $2.08 billion to $2.14 billion. For the next year, analysts anticipate that the firm will post sales of $2.28 billion, with estimates ranging from $2.26 billion to $2.33 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Kennametal.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, August 2nd. The industrial products company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. Kennametal had a net margin of 2.96% and a return on equity of 6.66%. The company had revenue of $515.97 million during the quarter, compared to analysts’ expectations of $513.36 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s revenue for the quarter was up 36.1% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. Samalin Investment Counsel LLC purchased a new position in Kennametal in the second quarter worth approximately $36,000. Rockefeller Capital Management L.P. lifted its stake in shares of Kennametal by 69.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 997 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 408 shares during the last quarter. Ameritas Investment Company LLC purchased a new position in shares of Kennametal during the 1st quarter worth $41,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Kennametal during the 1st quarter worth about $44,000. Finally, Meeder Asset Management Inc. raised its holdings in Kennametal by 25,440.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,277 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,272 shares during the period.
Shares of NYSE:KMT traded down $0.22 during trading on Tuesday, reaching $35.15. The stock had a trading volume of 531,296 shares, compared to its average volume of 623,897. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 2.30. Kennametal has a 1-year low of $27.74 and a 1-year high of $43.04. The stock has a market cap of $2.95 billion, a PE ratio of 54.92, a PEG ratio of 3.68 and a beta of 2.07. The business has a fifty day moving average price of $36.10 and a 200-day moving average price of $37.92.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Shareholders of record on Tuesday, August 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, August 9th. Kennametal’s dividend payout ratio (DPR) is presently 76.92%.
Kennametal declared that its board has approved a stock repurchase program on Monday, August 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Kennametal, Inc engages in the development and application of tungsten carbides, ceramics, and solutions used in metal cutting and extreme wear applications. It operates through the following segments: Metal Cutting and Infrastructure. The Metal Cutting segment develops and manufactures tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets, including aerospace, general engineering, energy and transportation.
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