Kennametal (KMT) Releases Quarterly Earnings Results
Kennametal (NYSE:KMT) posted its quarterly earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.55 by $0.07, American Banking & Market News reports. The company had revenue of $619.81 million for the quarter, compared to the consensus estimate of $622.20 million. During the same quarter last year, the company posted $0.57 earnings per share. Kennametal’s revenue was down 1.4% compared to the same quarter last year. Kennametal updated its FY14 guidance to $2.90-3.05 EPS.
A number of analysts have recently weighed in on KMT shares. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Kennametal in a research note to investors on Thursday, September 26th. They now have a $53.00 price target on the stock. On a related note, analysts at BMO Capital Markets raised their price target on shares of Kennametal from $44.00 to $47.00 in a research note to investors on Thursday, September 26th. They now have a “market perform” rating on the stock. Finally, analysts at SunTrust initiated coverage on shares of Kennametal in a research note to investors on Thursday, September 26th. They set a “neutral” rating and a $52.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $49.62.
Kennametal (NYSE:KMT) opened at 46.42 on Thursday. Kennametal has a one year low of $33.95 and a one year high of $46.43. The stock’s 50-day moving average is $44.14 and its 200-day moving average is $41.12. The company has a market cap of $3.614 billion and a price-to-earnings ratio of 18.19.
Kennametal Inc (NYSE:KMT), is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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