Kennametal Inc. (KMT) Forecasted to Post Q3 2018 Earnings of $0.75 Per Share
Kennametal Inc. (NYSE:KMT) – Analysts at Jefferies Group boosted their Q3 2018 earnings per share (EPS) estimates for shares of Kennametal in a research report issued on Thursday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $0.75 per share for the quarter, up from their previous estimate of $0.65. Jefferies Group has a “Buy” rating and a $50.00 price objective on the stock. Jefferies Group also issued estimates for Kennametal’s Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $2.30 EPS, FY2019 earnings at $2.80 EPS and FY2020 earnings at $3.15 EPS.
A number of other equities research analysts also recently issued reports on KMT. Stifel Nicolaus reiterated a “hold” rating on shares of Kennametal in a research report on Friday. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday. BidaskClub lowered shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company upgraded shares of Kennametal from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $26.10 to $43.09 in a research note on Friday. Finally, BMO Capital Markets increased their price target on shares of Kennametal from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.74.
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Shares of Kennametal (NYSE KMT) opened at 36.66 on Friday. The stock has a market capitalization of $2.96 billion, a PE ratio of 60.10 and a beta of 1.89. The stock’s 50 day moving average is $38.53 and its 200 day moving average is $38.36. Kennametal has a 52 week low of $25.18 and a 52 week high of $43.09.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The company had revenue of $565.03 million for the quarter, compared to analysts’ expectations of $562.16 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the stock. Ledyard National Bank purchased a new position in shares of Kennametal during the first quarter valued at about $120,000. CIBC World Markets Inc. purchased a new position in shares of Kennametal during the first quarter valued at about $218,000. Oakbrook Investments LLC increased its position in shares of Kennametal by 2.6% in the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock valued at $223,000 after buying an additional 150 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Kennametal during the first quarter valued at about $225,000. Finally, Capstone Asset Management Co. purchased a new position in shares of Kennametal during the first quarter valued at about $230,000. 97.23% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Philip A. Dur sold 7,000 shares of Kennametal stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $40.01, for a total transaction of $280,070.00. Following the completion of the transaction, the director now directly owns 22,024 shares of the company’s stock, valued at approximately $881,180.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, August 16th. Kennametal’s payout ratio is 133.33%.
Kennametal Company Profile
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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