Zacks: Analysts Anticipate Kennametal Inc. (KMT) Will Announce Quarterly Sales of $585.72 Million

Equities research analysts predict that Kennametal Inc. (NYSE:KMT) will announce $585.72 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kennametal’s earnings. The highest sales estimate is $595.00 million and the lowest is $580.30 million. Kennametal posted sales of $542.45 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The business is expected to report its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Kennametal will report full year sales of $2.53 billion for the current fiscal year, with estimates ranging from $2.50 billion to $2.54 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.64 billion, with estimates ranging from $2.57 billion to $2.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Kennametal.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. Kennametal had a net margin of 8.45% and a return on equity of 18.60%. The firm had revenue of $646.11 million for the quarter, compared to analyst estimates of $631.48 million. During the same period last year, the firm posted $0.56 EPS. Kennametal’s quarterly revenue was up 14.4% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Kennametal in a research report on Tuesday, October 2nd. They issued a “buy” rating and a $53.00 price objective on the stock. Barclays reiterated a “hold” rating and issued a $44.00 price objective on shares of Kennametal in a research report on Wednesday, August 8th. ValuEngine upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 price objective on the stock. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their price objective on shares of Kennametal from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.54.

NYSE:KMT traded down $0.98 during midday trading on Friday, reaching $35.59. The stock had a trading volume of 1,358,000 shares, compared to its average volume of 957,242. Kennametal has a 12-month low of $34.37 and a 12-month high of $52.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.74 and a quick ratio of 1.15. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.43 and a beta of 2.02.

In other Kennametal news, VP Gaalen Jan Kees Van sold 13,606 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $41.09, for a total value of $559,070.54. Following the completion of the sale, the vice president now owns 68,827 shares of the company’s stock, valued at $2,828,101.43. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the vice president now directly owns 14,676 shares of the company’s stock, valued at approximately $619,327.20. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC raised its stake in shares of Kennametal by 7.2% during the 2nd quarter. Aperio Group LLC now owns 28,048 shares of the industrial products company’s stock worth $1,007,000 after buying an additional 1,882 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Kennametal during the 2nd quarter worth $15,768,000. Schwab Charles Investment Management Inc. raised its stake in shares of Kennametal by 7.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 730,469 shares of the industrial products company’s stock worth $26,224,000 after buying an additional 52,774 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Kennametal by 105.3% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,510 shares of the industrial products company’s stock worth $126,000 after buying an additional 1,800 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Kennametal by 11.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,971,295 shares of the industrial products company’s stock worth $106,669,000 after buying an additional 308,247 shares during the last quarter.

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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