Kennametal Inc. (KMT) Expected to Announce Earnings of $0.38 Per Share
Analysts expect that Kennametal Inc. (NYSE:KMT) will report $0.38 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Kennametal’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.40. Kennametal reported earnings of $0.11 per share during the same quarter last year, which would indicate a positive year over year growth rate of 245.5%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Kennametal will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.01 to $2.30. For the next financial year, analysts forecast that the company will post earnings of $2.66 per share, with EPS estimates ranging from $2.45 to $2.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Kennametal.
Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.08). The business 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 company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, August 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $45.00 price target on shares of Kennametal in a report on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Kennametal in a report on Thursday, September 21st. J P Morgan Chase & Co raised shares of Kennametal from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $43.00 in a report on Thursday, August 17th. Finally, BidaskClub cut shares of Kennametal from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.95.
In other Kennametal news, VP Charles Michael Jr. Byrnes purchased 1,900 shares of the business’s stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $33.00 per share, for a total transaction of $62,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Rossi purchased 29,880 shares of the business’s stock in a transaction on Friday, August 18th. The shares were acquired at an average price of $33.46 per share, with a total value of $999,784.80. Following the completion of the transaction, the insider now owns 29,850 shares of the company’s stock, valued at $998,781. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Fortaleza Asset Management Inc. purchased a new stake in Kennametal during the third quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after buying an additional 272 shares during the period. Oakbrook Investments LLC boosted its position in Kennametal by 2.6% during the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock valued at $223,000 after buying an additional 150 shares during the period. Shelton Capital Management purchased a new stake in Kennametal during the second quarter valued at about $229,000. Finally, Capstone Asset Management Co. boosted its position in Kennametal by 4.9% during the second quarter. Capstone Asset Management Co. now owns 6,155 shares of the industrial products company’s stock valued at $230,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.
Shares of Kennametal (KMT) traded down 1.02% during midday trading on Monday, hitting $42.57. The company’s stock had a trading volume of 1,008,694 shares. The firm has a market cap of $3.43 billion, a P/E ratio of 69.79 and a beta of 1.94. The stock’s 50 day moving average is $40.49 and its 200-day moving average is $38.59. Kennametal has a 52-week low of $27.01 and a 52-week high of $43.62.
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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