Kennametal Inc. (KMT) Forecasted to Earn FY2018 Earnings of $2.48 Per Share
Kennametal Inc. (NYSE:KMT) – Equities researchers at Barrington Research issued their FY2018 earnings per share estimates for Kennametal in a note issued to investors on Thursday. Barrington Research analyst M. Gall anticipates that the industrial products company will earn $2.48 per share for the year. Barrington Research currently has a “Outperform” rating and a $53.00 target price on the stock.
Several other equities research analysts have also recently weighed in on KMT. ValuEngine cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus boosted their price target on shares of Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Sunday, February 4th. JPMorgan Chase & Co. cut shares of Kennametal from an “overweight” rating to a “neutral” rating in a research report on Monday, February 5th. Zacks Investment Research cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Bank of America boosted their price objective on shares of Kennametal from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.25.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The business had revenue of $571.00 million during the quarter, compared to the consensus estimate of $541.78 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 13th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Monday, February 12th. Kennametal’s dividend payout ratio (DPR) is 44.20%.
In other news, Director Timothy R. Mclevish sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $48.00, for a total transaction of $960,000.00. Following the completion of the sale, the director now directly owns 66,904 shares of the company’s stock, valued at $3,211,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy R. Mclevish sold 7,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the sale, the director now directly owns 78,904 shares of the company’s stock, valued at $3,708,488. The disclosure for this sale can be found here. Insiders have sold 45,125 shares of company stock valued at $2,140,875 over the last three months. Insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of KMT. Wells Fargo & Company MN boosted its stake in shares of Kennametal by 11.7% during the second quarter. Wells Fargo & Company MN now owns 86,507 shares of the industrial products company’s stock valued at $3,238,000 after purchasing an additional 9,072 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Kennametal by 24.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 15,400 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 3,000 shares during the period. Voya Investment Management LLC lifted its stake in Kennametal by 28.1% in the second quarter. Voya Investment Management LLC now owns 35,940 shares of the industrial products company’s stock worth $1,345,000 after acquiring an additional 7,874 shares during the period. Stifel Financial Corp purchased a new stake in Kennametal in the second quarter worth about $295,000. Finally, Royal Bank of Canada lifted its stake in Kennametal by 43.2% in the second quarter. Royal Bank of Canada now owns 26,814 shares of the industrial products company’s stock worth $1,005,000 after acquiring an additional 8,090 shares during the period. 98.47% of the stock is owned by hedge funds and other institutional investors.
WARNING: “Kennametal Inc. (KMT) Forecasted to Earn FY2018 Earnings of $2.48 Per Share” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://www.dailypolitical.com/2018/02/14/kennametal-inc-kmt-forecasted-to-earn-fy2018-earnings-of-2-48-per-share.html.
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.
Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.