Brokerages expect Kennametal (NYSE:KMT) to post $0.81 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Kennametal’s earnings. The lowest EPS estimate is $0.79 and the highest is $0.84. Kennametal posted earnings of $0.56 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 44.6%. The company is expected to announce its next earnings results on Wednesday, August 1st.
On average, analysts expect that Kennametal will report full-year earnings of $2.60 per share for the current financial year, with EPS estimates ranging from $2.57 to $2.62. For the next year, analysts forecast that the company will report earnings of $3.06 per share, with EPS estimates ranging from $2.86 to $3.40. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Kennametal.
Get Kennametal alerts:Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, May 2nd. The industrial products company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.02). The firm had revenue of $607.94 million for the quarter, compared to the consensus estimate of $601.10 million. Kennametal had a net margin of 6.83% and a return on equity of 17.01%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Thursday, May 24th. ValuEngine upgraded Kennametal from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Stifel Nicolaus reduced their price objective on Kennametal from $52.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 4th. Barrington Research reiterated a “buy” rating and set a $53.00 price objective on shares of Kennametal in a research report on Tuesday, May 1st. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $48.00 price objective (down previously from $53.00) on shares of Kennametal in a research report on Thursday, April 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $49.18.
A number of large investors have recently added to or reduced their stakes in KMT. Strs Ohio grew its holdings in Kennametal by 23.5% during the fourth quarter. Strs Ohio now owns 10,500 shares of the industrial products company’s stock valued at $508,000 after purchasing an additional 2,000 shares during the period. James Investment Research Inc. bought a new stake in Kennametal during the fourth quarter valued at about $2,113,000. Foundry Partners LLC bought a new stake in Kennametal during the fourth quarter valued at about $1,591,000. Braun Stacey Associates Inc. bought a new stake in Kennametal during the fourth quarter valued at about $10,517,000. Finally, Chicago Equity Partners LLC grew its holdings in Kennametal by 41.2% during the fourth quarter. Chicago Equity Partners LLC now owns 125,650 shares of the industrial products company’s stock valued at $6,083,000 after purchasing an additional 36,655 shares during the period. 98.11% of the stock is owned by institutional investors and hedge funds.
Shares of Kennametal opened at $38.03 on Friday, MarketBeat reports. Kennametal has a 12-month low of $32.23 and a 12-month high of $52.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.60 and a quick ratio of 1.47. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 2.98 and a beta of 2.05.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 30th. Shareholders of record on Tuesday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, May 14th. Kennametal’s dividend payout ratio is presently 52.63%.
About Kennametal
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.
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