Kennametal Inc. (NYSE:KMT) Expected to Announce Quarterly Sales of $553.76 Million
Equities analysts expect Kennametal Inc. (NYSE:KMT) to report sales of $553.76 million for the current quarter, Zacks reports. Four analysts have issued estimates for Kennametal’s earnings, with the highest sales estimate coming in at $565.90 million and the lowest estimate coming in at $543.36 million. Kennametal reported sales of $521.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.2%. The company is scheduled to announce its next earnings results on Monday, August 7th.
On average, analysts expect that Kennametal will report full-year sales of $553.76 million for the current financial year, with estimates ranging from $2.03 billion to $2.06 billion. For the next year, analysts expect that the company will report sales of $2.16 billion per share, with estimates ranging from $2.07 billion to $2.24 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Kennametal.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.16. The company had revenue of $528.60 million for the quarter, compared to the consensus estimate of $511.79 million. Kennametal had a negative net margin of 2.09% and a positive return on equity of 11.59%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 earnings per share.
Several analysts have commented on KMT shares. Jefferies Group LLC restated a “buy” rating and set a $50.00 price objective (up from $47.00) on shares of Kennametal in a research note on Saturday, April 29th. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, April 18th. BMO Capital Markets restated a “hold” rating and set a $40.00 price objective on shares of Kennametal in a research note on Thursday, April 20th. Finally, Stifel Nicolaus lifted their price objective on shares of Kennametal from $38.00 to $44.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Kennametal currently has a consensus rating of “Hold” and a consensus target price of $41.09.
In related news, Director Philip A. Dur sold 7,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $40.01, for a total value of $280,070.00. Following the completion of the transaction, the director now directly owns 22,024 shares in the company, valued at approximately $881,180.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Judith L. Bacchus sold 9,168 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $41.89, for a total transaction of $384,047.52. Following the completion of the transaction, the vice president now owns 16,767 shares of the company’s stock, valued at $702,369.63. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Ledyard National Bank purchased a new position in Kennametal during the first quarter valued at about $120,000. CIBC World Markets Inc. purchased a new position in Kennametal during the first quarter valued at about $218,000. Capstone Asset Management Co. purchased a new position in Kennametal during the first quarter valued at about $230,000. Moller Financial Services purchased a new position in Kennametal during the first quarter valued at about $235,000. Finally, Venturi Wealth Management LLC purchased a new position in Kennametal during the first quarter valued at about $225,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Shares of Kennametal (NYSE KMT) traded up 0.44% on Friday, reaching $38.48. 246,813 shares of the company were exchanged. The stock’s market capitalization is $3.10 billion. Kennametal has a 52 week low of $20.40 and a 52 week high of $43.09. The firm’s 50 day moving average price is $38.97 and its 200 day moving average price is $37.43.
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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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