Kennametal Stock Rating Upgraded by SunTrust (KMT)
Kennametal (NYSE:KMT) was upgraded by research analysts at SunTrust from a “neutral” rating to a “buy” rating in a report released on Monday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at BB&T Corp. cut their price target on shares of Kennametal from $55.00 to $53.00 in a research note to investors on Friday, January 31st. Separately, analysts at Longbow Research downgraded shares of Kennametal from a “buy” rating to a “neutral” rating in a research note to investors on Friday, January 31st. They now have a $56.00 price target on the stock. Finally, analysts at Credit Suisse downgraded shares of Kennametal from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, January 6th. They now have a $50.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $51.40.
Kennametal (NYSE:KMT) last announced its earnings results on Friday, January 31st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.08. The company had revenue of $690.00 million for the quarter, compared to the consensus estimate of $664.40 million.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, February 26th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, February 7th.
Kennametal Inc (NYSE:KMT), is a supplier of tooling, engineered components and advanced materials consumed in production processes.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.