Kennametal Inc. (KMT) Forecasted to Post Q4 2019 Earnings of $0.98 Per Share

Kennametal Inc. (NYSE:KMT) – Analysts at Seaport Global Securities cut their Q4 2019 earnings estimates for shares of Kennametal in a research report issued on Tuesday, November 6th. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will earn $0.98 per share for the quarter, down from their previous estimate of $1.01. Seaport Global Securities also issued estimates for Kennametal’s Q3 2020 earnings at $0.96 EPS, Q4 2020 earnings at $1.06 EPS and FY2020 earnings at $3.80 EPS.

Several other research firms have also recently issued reports on KMT. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 price objective on the stock. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. ValuEngine upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. BMO Capital Markets boosted their price target 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. Finally, Barclays restated a “hold” rating and issued a $44.00 price target on shares of Kennametal in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $48.50.

Kennametal stock opened at $39.46 on Friday. The company has a market cap of $3.36 billion, a PE ratio of 14.89, a P/E/G ratio of 2.61 and a beta of 2.12. The company has a current ratio of 2.55, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Kennametal has a 1 year low of $32.91 and a 1 year high of $52.52.

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, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $587.00 million for 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 company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, November 9th. Kennametal’s dividend payout ratio is presently 30.19%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its stake in Kennametal by 1.3% during the second quarter. Legal & General Group Plc now owns 103,427 shares of the industrial products company’s stock worth $3,713,000 after buying an additional 1,364 shares during the period. D.A. Davidson & CO. boosted its stake in Kennametal by 21.0% during the second quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock worth $304,000 after buying an additional 1,471 shares during the period. Arizona State Retirement System boosted its stake in Kennametal by 2.8% during the second quarter. Arizona State Retirement System now owns 56,673 shares of the industrial products company’s stock worth $2,035,000 after buying an additional 1,534 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Kennametal by 5.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 31,812 shares of the industrial products company’s stock worth $1,142,000 after buying an additional 1,587 shares during the period. Finally, Boothe Investment Group Inc. boosted its stake in Kennametal by 2.5% during the third quarter. Boothe Investment Group Inc. now owns 72,181 shares of the industrial products company’s stock worth $3,144,000 after buying an additional 1,742 shares during the period.

Kennametal Company Profile

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.

See Also: Fundamental Analysis

Earnings History and Estimates for Kennametal (NYSE:KMT)

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