Zacks: Brokerages Expect Kaman Co. (KAMN) Will Announce Quarterly Sales of $470.90 Million

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Equities research analysts expect Kaman Co. (NYSE:KAMN) to post sales of $470.90 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Kaman’s earnings, with the highest sales estimate coming in at $480.89 million and the lowest estimate coming in at $460.90 million. Kaman posted sales of $447.05 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The company is scheduled to announce its next earnings results on Thursday, October 25th.

On average, analysts expect that Kaman will report full-year sales of $1.92 billion for the current year, with estimates ranging from $1.91 billion to $1.93 billion. For the next financial year, analysts expect that the firm will report sales of $2.03 billion per share, with estimates ranging from $2.03 billion to $2.04 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Kaman.

Kaman (NYSE:KAMN) last released its earnings results on Wednesday, August 8th. The industrial products company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.08). Kaman had a net margin of 3.20% and a return on equity of 11.70%. The firm had revenue of $468.13 million during the quarter, compared to the consensus estimate of $471.75 million. During the same period in the prior year, the business earned $0.48 earnings per share. Kaman’s quarterly revenue was up 4.3% compared to the same quarter last year.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Kaman from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. JPMorgan Chase & Co. assumed coverage on shares of Kaman in a report on Thursday, July 12th. They issued a “neutral” rating and a $75.00 target price on the stock. Finally, ValuEngine lowered shares of Kaman from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Kaman presently has a consensus rating of “Hold” and an average price target of $72.00.

KAMN stock traded up $0.75 during mid-day trading on Thursday, hitting $64.90. The stock had a trading volume of 190,165 shares, compared to its average volume of 159,873. The company has a quick ratio of 1.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.49. Kaman has a 52 week low of $50.94 and a 52 week high of $75.08. The firm has a market cap of $1.81 billion, a P/E ratio of 28.78 and a beta of 0.72.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Tuesday, September 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, September 17th. Kaman’s dividend payout ratio is currently 35.87%.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Kaman by 6.6% during the 2nd quarter. BlackRock Inc. now owns 3,821,510 shares of the industrial products company’s stock valued at $266,322,000 after purchasing an additional 235,543 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Kaman by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,409,951 shares of the industrial products company’s stock valued at $87,586,000 after purchasing an additional 6,318 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Kaman by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 1,185,800 shares of the industrial products company’s stock valued at $73,662,000 after purchasing an additional 3,000 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Kaman by 4.2% during the 2nd quarter. Northern Trust Corp now owns 549,716 shares of the industrial products company’s stock valued at $38,310,000 after purchasing an additional 22,266 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Kaman by 2.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 447,034 shares of the industrial products company’s stock valued at $27,770,000 after purchasing an additional 9,415 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

About Kaman

Kaman Corporation operates in the aerospace and distribution markets. It operates through two segments, Distribution and Aerospace. The Distribution segment distributes electro-mechanical products; bearings; and power transmission, motion control, and electrical and fluid power components, as well as offers value-added services.

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