Kennametal Inc. (KMT) updated its FY13 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.40-3.70 for the period.

On a related note, analysts at BMO Capital Markets initiated coverage on shares of Kennametal in a research note to investors on Thursday, July 26th. They set a market perform rating on the stock.

Kennametal Inc. (KMT) traded down 6.69% on Wednesday, hitting $34.44. Kennametal Inc. (KMT) has a 1-year low of $30.65 and a 1-year high of $47.82. The company has a market cap of $2.759 billion and a price-to-earnings ratio of 9.79.

Kennametal last released its earnings data on Wednesday, October 24th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.88 by $0.31. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts expect that Kennametal Inc. (KMT) will post $4.15 EPS for the current fiscal year.

Kennametal Inc. is a supplier of tooling, engineered components and advanced materials consumed in production processes.

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