Equities Analysts Offer Predictions for Kennametal Inc.’s FY2017 Earnings (NYSE:KMT)
Kennametal Inc. (NYSE:KMT) – Equities research analysts at Barrington Research issued their FY2017 earnings per share estimates for Kennametal in a research report issued on Wednesday. Barrington Research analyst M. Gall anticipates that the industrial products company will earn $1.55 per share for the year. Barrington Research currently has a “Outperform” rating and a $50.00 target price on the stock. Barrington Research also issued estimates for Kennametal’s Q4 2017 earnings at $0.60 EPS and FY2018 earnings at $2.10 EPS.
Kennametal (NYSE:KMT) last issued its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Kennametal had a negative net margin of 2.09% and a positive return on equity of 11.59%. The company had revenue of $528.60 million during the quarter, compared to analysts’ expectations of $511.79 million. During the same quarter in the previous year, the company earned $0.37 EPS. Kennametal’s revenue was up 6.2% on a year-over-year basis.
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Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $47.00 price objective (up previously from $45.00) on shares of Kennametal in a research note on Friday, April 14th. BMO Capital Markets reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Kennametal in a research note on Thursday, April 20th. Finally, Stifel Nicolaus upped their price objective on Kennametal from $38.00 to $44.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Kennametal has an average rating of “Hold” and a consensus target price of $41.09.
Shares of Kennametal (NYSE:KMT) traded up 0.03% during midday trading on Friday, hitting $38.32. 63,742 shares of the stock traded hands. The company’s market capitalization is $3.09 billion. Kennametal has a 52 week low of $20.40 and a 52 week high of $43.09. The firm’s 50-day moving average is $38.97 and its 200 day moving average is $37.43.
In related news, VP Judith L. Bacchus sold 9,168 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $41.89, for a total value of $384,047.52. Following the transaction, the vice president now directly owns 16,767 shares in the company, valued at approximately $702,369.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Philip A. Dur sold 7,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $40.01, for a total value of $280,070.00. Following the completion of the transaction, the director now owns 22,024 shares in the company, valued at $881,180.24. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. bought a new position in shares of Kennametal during the first quarter valued at $230,000. Bank of Montreal Can boosted its position in shares of Kennametal by 1.7% in the first quarter. Bank of Montreal Can now owns 9,834 shares of the industrial products company’s stock valued at $386,000 after buying an additional 168 shares during the period. Sheets Smith Wealth Management bought a new position in shares of Kennametal during the first quarter valued at $294,000. Highbridge Capital Management LLC boosted its position in shares of Kennametal by 79.2% in the fourth quarter. Highbridge Capital Management LLC now owns 100,875 shares of the industrial products company’s stock valued at $3,154,000 after buying an additional 44,571 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Kennametal by 333.3% in the fourth quarter. Teachers Advisors LLC now owns 606,301 shares of the industrial products company’s stock valued at $18,953,000 after buying an additional 466,365 shares during the period. Institutional investors own 96.97% of the company’s stock.
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.
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