Brokerages Anticipate Kennametal Inc. (NYSE:KMT) Will Post Earnings of $0.48 Per Share

Equities analysts expect Kennametal Inc. (NYSE:KMTGet Rating) to post earnings per share of $0.48 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Kennametal’s earnings, with estimates ranging from $0.46 to $0.50. Kennametal posted earnings of $0.53 per share during the same quarter last year, which would suggest a negative year over year growth rate of 9.4%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Kennametal will report full year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.71 to $1.75. For the next financial year, analysts expect that the company will post earnings of $2.11 per share, with EPS estimates ranging from $1.89 to $2.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Kennametal.

Kennametal (NYSE:KMTGet Rating) last released its quarterly earnings results on Monday, May 2nd. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Kennametal had a return on equity of 11.05% and a net margin of 6.91%. During the same quarter last year, the firm posted $0.32 EPS.

Several research firms recently weighed in on KMT. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. Zacks Investment Research upgraded Kennametal from a “strong sell” rating to a “hold” rating and set a $30.00 target price on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered Kennametal from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $37.00 to $31.00 in a research note on Monday, March 28th. Barclays reduced their target price on Kennametal from $30.00 to $28.00 in a research note on Wednesday, May 4th. Finally, Loop Capital lowered Kennametal from a “buy” rating to a “hold” rating and reduced their target price for the stock from $41.00 to $29.00 in a research note on Wednesday, April 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.00.

NYSE:KMT traded down $0.29 during midday trading on Wednesday, hitting $28.32. 8,012 shares of the company traded hands, compared to its average volume of 779,668. The firm’s fifty day moving average is $27.07 and its 200-day moving average is $31.64. Kennametal has a 12-month low of $25.00 and a 12-month high of $41.22. The firm has a market capitalization of $2.34 billion, a P/E ratio of 17.37, a P/E/G ratio of 3.27 and a beta of 1.90. The company has a current ratio of 2.27, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 24th. Stockholders of record on Tuesday, May 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.82%. Kennametal’s dividend payout ratio is currently 49.08%.

In related news, Director William M. Lambert acquired 36,698 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were bought at an average price of $26.23 per share, with a total value of $962,588.54. Following the completion of the transaction, the director now directly owns 52,360 shares in the company, valued at $1,373,402.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Alvarado acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The shares were bought at an average cost of $29.05 per share, for a total transaction of $29,050.00. The disclosure for this purchase can be found here. Company insiders own 1.47% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Ariel Investments LLC boosted its holdings in Kennametal by 8.9% in the first quarter. Ariel Investments LLC now owns 9,707,735 shares of the industrial products company’s stock worth $277,739,000 after acquiring an additional 790,456 shares in the last quarter. BlackRock Inc. raised its stake in shares of Kennametal by 1.0% in the first quarter. BlackRock Inc. now owns 9,588,234 shares of the industrial products company’s stock worth $274,320,000 after purchasing an additional 98,829 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Kennametal by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,999,328 shares of the industrial products company’s stock worth $85,813,000 after purchasing an additional 133,553 shares during the last quarter. Victory Capital Management Inc. raised its position in Kennametal by 8.9% during the first quarter. Victory Capital Management Inc. now owns 2,955,595 shares of the industrial products company’s stock valued at $83,130,000 after acquiring an additional 242,655 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in Kennametal by 1.3% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,845,361 shares of the industrial products company’s stock valued at $102,177,000 after acquiring an additional 35,719 shares in the last quarter.

About Kennametal (Get Rating)

Kennametal Inc develops and applies tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. It operates through two segments, Metal Cutting and Infrastructure.

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Earnings History and Estimates for Kennametal (NYSE:KMT)

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