Kennametal Inc. Forecasted to Post Q1 2018 Earnings of $0.39 Per Share (KMT)
Kennametal Inc. (NYSE:KMT) – Equities research analysts at Seaport Global Securities upped their Q1 2018 earnings per share estimates for Kennametal in a research note issued on Friday. Seaport Global Securities analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $0.39 for the quarter, up from their previous forecast of $0.31. Seaport Global Securities also issued estimates for Kennametal’s Q2 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.70 EPS, Q1 2019 earnings at $0.50 EPS and Q2 2019 earnings at $0.55 EPS.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The firm had revenue of $565.03 million during the quarter, compared to analyst estimates of $562.16 million. During the same period in the prior year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year.
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Other analysts also recently issued reports about the company. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 target price (up from $47.00) on shares of Kennametal in a research report on Saturday, April 29th. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, April 18th. BMO Capital Markets reiterated a “hold” rating and set a $40.00 target price on shares of Kennametal in a research report on Thursday, April 20th. Stifel Nicolaus boosted their target price on Kennametal from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Barrington Research boosted their target price on Kennametal from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $42.74.
Kennametal (KMT) opened at 36.66 on Monday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 60.10 and a beta of 1.89. Kennametal has a 1-year low of $25.18 and a 1-year high of $43.09. The company has a 50-day moving average price of $38.53 and a 200 day moving average price of $38.36.
A number of institutional investors have recently added to or reduced their stakes in KMT. Columbus Circle Investors raised its position in Kennametal by 9.0% in the second quarter. Columbus Circle Investors now owns 645,232 shares of the industrial products company’s stock valued at $24,145,000 after buying an additional 53,334 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Kennametal by 19.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 68,866 shares of the industrial products company’s stock valued at $2,577,000 after buying an additional 11,156 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Kennametal during the second quarter valued at approximately $4,130,000. Jennison Associates LLC raised its position in Kennametal by 216.1% in the second quarter. Jennison Associates LLC now owns 23,111 shares of the industrial products company’s stock valued at $865,000 after buying an additional 15,800 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Kennametal by 134.0% in the second quarter. BNP Paribas Arbitrage SA now owns 43,614 shares of the industrial products company’s stock valued at $1,632,000 after buying an additional 24,973 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.
In other news, Director Philip A. Dur sold 7,000 shares of the business’s 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 directly owns 22,024 shares of the company’s stock, valued at $881,180.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. Kennametal’s dividend payout ratio (DPR) is 133.33%.
Kennametal Company Profile
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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