Q2 2019 EPS Estimates for Kennametal Inc. (KMT) Lowered by KeyCorp

Kennametal Inc. (NYSE:KMT) – Equities research analysts at KeyCorp dropped their Q2 2019 EPS estimates for shares of Kennametal in a report issued on Wednesday, November 7th. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $0.67 for the quarter, down from their prior forecast of $0.68. KeyCorp also issued estimates for Kennametal’s Q3 2019 earnings at $0.84 EPS, Q4 2019 earnings at $0.96 EPS, Q2 2020 earnings at $0.79 EPS, Q3 2020 earnings at $0.96 EPS and Q4 2020 earnings at $1.07 EPS.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. The business had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $590.22 million. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS.

A number of other research firms have also recently issued reports on KMT. Goldman Sachs Group assumed coverage on shares of Kennametal in a research report on Tuesday, October 2nd. They set a “buy” rating and a $53.00 price objective for the company. ValuEngine upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays reiterated a “hold” rating and set a $44.00 price objective on shares of Kennametal in a research report on Wednesday, August 8th. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 price objective for the company. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their price objective on shares of Kennametal from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Kennametal has an average rating of “Hold” and an average target price of $48.50.

KMT stock opened at $41.31 on Thursday. The company has a market cap of $3.20 billion, a P/E ratio of 15.59, a P/E/G ratio of 2.52 and a beta of 2.12. Kennametal has a 1 year low of $32.91 and a 1 year high of $52.52. The company has a quick ratio of 1.15, a current ratio of 2.55 and a debt-to-equity ratio of 0.47.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Tuesday, November 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, November 9th. Kennametal’s payout ratio is 30.19%.

In other Kennametal news, VP Gaalen Jan Kees Van sold 13,606 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total transaction of $559,070.54. Following the sale, the vice president now directly owns 68,827 shares of the company’s stock, valued at approximately $2,828,101.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michelle R. Keating sold 988 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $42.20, for a total transaction of $41,693.60. Following the sale, the vice president now directly owns 14,676 shares in the company, valued at $619,327.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Kennametal by 3.3% during the 2nd quarter. BlackRock Inc. now owns 9,150,075 shares of the industrial products company’s stock worth $328,487,000 after acquiring an additional 296,422 shares during the last quarter. Ariel Investments LLC grew its holdings in Kennametal by 5.3% during the 2nd quarter. Ariel Investments LLC now owns 5,459,382 shares of the industrial products company’s stock worth $195,992,000 after acquiring an additional 272,428 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Kennametal by 11.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,971,295 shares of the industrial products company’s stock worth $106,669,000 after acquiring an additional 308,247 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Kennametal by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,189,690 shares of the industrial products company’s stock worth $78,611,000 after acquiring an additional 119,160 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Kennametal by 94.0% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,120,564 shares of the industrial products company’s stock worth $76,128,000 after acquiring an additional 1,027,424 shares during the last quarter.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Earnings History and Estimates for Kennametal (NYSE:KMT)

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