Kennametal (KMT) Updates FY13 Earnings Guidance
Kennametal (KMT) issued an update on its FY13 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.60-2.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.34.
Shares of Kennametal (KMT) opened at 42.35 on Thursday. Kennametal (KMT) has a one year low of $30.65 and a one year high of $47.82. The stock’s 50-day moving average is currently $40.83. The company has a market cap of $3.372 billion and a P/E ratio of 12.24.
Kennametal last released its earnings data on Thursday, January 24th. The company reported $0.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.64 by $0.12. The company had revenue of $633.00 million for the quarter, compared to the consensus estimate of $641.48 million. During the same quarter last year, the company posted $0.91 earnings per share. Kennametal’s revenue was down 1.4% compared to the same quarter last year. Kennametal has set its FY13 guidance at $2.60-2.80 EPS. Analysts expect that Kennametal (KMT) will post $3.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, February 20th. Investors of record on Tuesday, February 5th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.51%.
A number of analysts have recently weighed in on KMT shares. Analysts at Jefferies Group reiterated a hold rating on shares of Kennametal in a research note to investors on Friday, January 11th. They now have a $38.00 price target on the stock, up previously from $34.00. On a related note, analysts at JPMorgan Chase upgraded shares of Kennametal from a neutral rating to an overweight rating in a research note to investors on Tuesday, January 8th. They now have a $52.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Kennametal from an underperform rating to a neutral rating in a research note to investors on Tuesday, December 25th. They now have a $40.90 price target on the stock.
Nine research analysts have rated the stock with a buy rating, and seven have given a hold rating to the company’s stock. Kennametal currently has a consensus rating of overweight and a consensus price target of $43.85.
Kennametal Inc. is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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