Equities research analysts expect Kennametal Inc. (NYSE:KMT) to announce sales of $389.72 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Kennametal’s earnings, with estimates ranging from $372.60 million to $402.05 million. Kennametal posted sales of $603.95 million during the same quarter last year, which indicates a negative year-over-year growth rate of 35.5%. The company is expected to announce its next earnings report on Monday, August 3rd.

According to Zacks, analysts expect that Kennametal will report full-year sales of $1.90 billion for the current financial year, with estimates ranging from $1.88 billion to $1.91 billion. For the next financial year, analysts anticipate that the company will report sales of $1.78 billion, with estimates ranging from $1.54 billion to $1.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Kennametal.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.14. The firm had revenue of $483.10 million during the quarter, compared to analysts’ expectations of $503.23 million. Kennametal had a net margin of 3.10% and a return on equity of 10.16%. Kennametal’s revenue for the quarter was down 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share.

A number of equities research analysts recently issued reports on KMT shares. Morgan Stanley started coverage on shares of Kennametal in a report on Friday. They issued an “equal weight” rating and a $33.00 price objective for the company. KeyCorp upped their price objective on shares of Kennametal from $30.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Wells Fargo & Co upped their price objective on shares of Kennametal from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. BMO Capital Markets boosted their target price on shares of Kennametal from $18.00 to $29.00 in a research report on Wednesday, June 10th. Finally, Barclays reissued a “buy” rating and set a $27.00 target price on shares of Kennametal in a research report on Sunday, March 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Kennametal presently has a consensus rating of “Hold” and an average price target of $31.78.

In other news, VP Judith L. Bacchus sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $27.92, for a total transaction of $279,200.00. Following the completion of the transaction, the vice president now owns 38,157 shares of the company’s stock, valued at $1,065,343.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence W. Stranghoener sold 7,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $30.06, for a total transaction of $210,420.00. Following the transaction, the director now directly owns 26,108 shares of the company’s stock, valued at approximately $784,806.48. The disclosure for this sale can be found here. Insiders have sold 26,750 shares of company stock valued at $730,280 in the last ninety days. 1.48% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. State Street Corp raised its position in Kennametal by 2.0% in the first quarter. State Street Corp now owns 2,602,617 shares of the industrial products company’s stock worth $48,461,000 after purchasing an additional 50,024 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Kennametal by 38.7% in the first quarter. New Mexico Educational Retirement Board now owns 19,700 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 5,500 shares in the last quarter. State of Tennessee Treasury Department raised its position in Kennametal by 10.3% in the first quarter. State of Tennessee Treasury Department now owns 33,146 shares of the industrial products company’s stock worth $617,000 after purchasing an additional 3,100 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Kennametal by 14.4% in the first quarter. The Manufacturers Life Insurance Company now owns 484,981 shares of the industrial products company’s stock worth $9,030,000 after purchasing an additional 60,930 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in Kennametal in the first quarter worth about $531,000. 96.00% of the stock is owned by hedge funds and other institutional investors.

NYSE:KMT traded up $1.24 during trading hours on Thursday, reaching $28.45. The company’s stock had a trading volume of 460,800 shares, compared to its average volume of 1,031,686. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 5.99 and a beta of 2.38. Kennametal has a one year low of $14.45 and a one year high of $38.73. The business’s 50-day moving average is $27.20 and its 200-day moving average is $28.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.52 and a quick ratio of 1.17.

Kennametal Company Profile

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. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Earnings History and Estimates for Kennametal (NYSE:KMT)

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