$0.38 EPS Expected for Kennametal Inc. (KMT) This Quarter
Brokerages predict that Kennametal Inc. (NYSE:KMT) will announce earnings per share of $0.38 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Kennametal’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.35. Kennametal posted earnings per share of $0.11 during the same quarter last year, which suggests a positive year over year growth rate of 245.5%. The business is scheduled to report its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Kennametal will report full-year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $2.01 to $2.30. For the next year, analysts forecast that the business will report earnings of $2.66 per share, with EPS estimates ranging from $2.45 to $2.80. Zacks’ EPS averages are a mean average based on a survey of research analysts that follow Kennametal.
Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.08). The firm had revenue of $565.03 million during the quarter, compared to analyst estimates of $562.16 million. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS.
A number of brokerages have recently issued reports on KMT. Stifel Nicolaus reaffirmed a “hold” rating on shares of Kennametal in a research report on Friday, August 4th. BidaskClub lowered Kennametal from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. J P Morgan Chase & Co raised Kennametal from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $43.00 in a research report on Thursday, August 17th. Finally, Wells Fargo & Company raised Kennametal from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $26.10 to $43.50 in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Kennametal currently has an average rating of “Buy” and a consensus target price of $43.95.
Kennametal (NYSE KMT) traded up 1.03% during mid-day trading on Wednesday, hitting $41.03. The company had a trading volume of 609,367 shares. Kennametal has a one year low of $26.79 and a one year high of $43.09. The company has a market cap of $3.31 billion, a PE ratio of 67.26 and a beta of 1.94. The company’s 50 day moving average price is $37.67 and its 200-day moving average price is $38.19.
In other Kennametal news, VP Charles Michael Jr. Byrnes purchased 1,900 shares of the stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $33.00 per share, for a total transaction of $62,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Rossi purchased 29,880 shares of the stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $33.46 per share, for a total transaction of $999,784.80. Following the acquisition, the insider now directly owns 29,850 shares of the company’s stock, valued at approximately $998,781. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Kennametal by 16,832.4% during the first quarter. BlackRock Inc. now owns 8,453,008 shares of the industrial products company’s stock valued at $331,612,000 after buying an additional 8,403,086 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Kennametal by 18.0% during the second quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after buying an additional 1,263,163 shares in the last quarter. State Street Corp grew its holdings in shares of Kennametal by 4.4% during the second quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock valued at $99,287,000 after buying an additional 112,547 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Kennametal during the second quarter valued at $76,161,000. Finally, American Century Companies Inc. grew its holdings in shares of Kennametal by 69.6% during the second quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock valued at $63,969,000 after buying an additional 701,783 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.
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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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