Zacks: Brokerages Anticipate Kennametal Inc. (NYSE:KMT) Will Announce Earnings of $0.37 Per Share

Analysts expect Kennametal Inc. (NYSE:KMT) to report earnings of $0.37 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Kennametal’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.35. Kennametal posted earnings per share of $0.03 in the same quarter last year, which indicates a positive year-over-year growth rate of 1,133.3%. The firm is scheduled to report its next earnings results after the market closes on Monday, November 1st.

According to Zacks, analysts expect that Kennametal will report full-year earnings of $1.97 per share for the current fiscal year, with EPS estimates ranging from $1.82 to $2.15. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.50 per share, with EPS estimates ranging from $2.34 to $2.77. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that cover Kennametal.

Kennametal (NYSE:KMT) last posted its earnings results on Monday, August 2nd. The industrial products company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.40 by $0.13. The firm had revenue of $515.97 million during the quarter, compared to analysts’ expectations of $513.36 million. Kennametal had a net margin of 2.96% and a return on equity of 6.66%. Kennametal’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS.

Several research firms have recently issued reports on KMT. Barclays decreased their price objective on shares of Kennametal from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, October 4th. Loop Capital initiated coverage on shares of Kennametal in a report on Monday, August 30th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, BMO Capital Markets raised their target price on shares of Kennametal from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Friday, August 20th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.57.

Large investors have recently bought and sold shares of the stock. Samalin Investment Counsel LLC acquired a new position in Kennametal during the second quarter valued at $36,000. Rockefeller Capital Management L.P. raised its position in Kennametal by 69.3% during the first quarter. Rockefeller Capital Management L.P. now owns 997 shares of the industrial products company’s stock valued at $39,000 after buying an additional 408 shares during the period. Ameritas Investment Company LLC purchased a new position in Kennametal in the first quarter valued at about $41,000. Harvest Fund Management Co. Ltd purchased a new position in Kennametal in the first quarter valued at about $44,000. Finally, Meeder Asset Management Inc. grew its stake in Kennametal by 25,440.0% in the second quarter. Meeder Asset Management Inc. now owns 1,277 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,272 shares in the last quarter.

Shares of Kennametal stock traded up $1.49 on Friday, hitting $36.41. The company had a trading volume of 18,172 shares, compared to its average volume of 615,877. The business has a 50-day simple moving average of $36.03 and a 200-day simple moving average of $37.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.30 and a quick ratio of 1.21. The company has a market cap of $3.05 billion, a PE ratio of 56.67, a PEG ratio of 3.68 and a beta of 2.07. Kennametal has a 52 week low of $27.76 and a 52 week high of $43.04.

Kennametal announced that its Board of Directors has approved a stock buyback program on Monday, August 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 24th. Shareholders of record on Tuesday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, August 9th. Kennametal’s payout ratio is 76.92%.

About Kennametal

Kennametal, Inc engages in the development and application of tungsten carbides, ceramics, and solutions used in metal cutting and extreme wear applications. It operates through the following segments: Metal Cutting and Infrastructure. The Metal Cutting segment develops and manufactures tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets, including aerospace, general engineering, energy and transportation.

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Earnings History and Estimates for Kennametal (NYSE:KMT)

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