Kennametal Inc. (KMT) Forecasted to Earn FY2019 Earnings of $3.20 Per Share
Kennametal Inc. (NYSE:KMT) – Investment analysts at Jefferies Group upped their FY2019 earnings per share estimates for shares of Kennametal in a research note issued on Tuesday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $3.20 for the year, up from their previous estimate of $3.00. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for Kennametal’s FY2020 earnings at $3.85 EPS.
Several other research analysts have also recently weighed in on KMT. J P Morgan Chase & Co raised Kennametal from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $43.00 in a research report on Thursday, August 17th. BMO Capital Markets reissued a “hold” rating and issued a $45.00 price objective on shares of Kennametal in a research report on Wednesday, August 23rd. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Wednesday, October 4th. Credit Suisse Group boosted their price objective on Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, TheStreet raised Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Kennametal currently has a consensus rating of “Hold” and an average price target of $45.86.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business had revenue of $542.45 million for the quarter, compared to analysts’ expectations of $516.80 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of KMT. Janus Henderson Group PLC purchased a new stake in Kennametal during the 2nd quarter worth about $76,161,000. Vanguard Group Inc. lifted its holdings in Kennametal by 18.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock worth $310,219,000 after purchasing an additional 1,263,163 shares in the last quarter. American Century Companies Inc. lifted its holdings in Kennametal by 69.6% during the 2nd quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock worth $63,969,000 after purchasing an additional 701,783 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Kennametal by 48.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock worth $57,758,000 after purchasing an additional 501,090 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Kennametal by 131.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 841,647 shares of the industrial products company’s stock worth $31,494,000 after purchasing an additional 478,446 shares in the last quarter. 98.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Timothy R. Mclevish sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the transaction, the director now owns 66,904 shares of the company’s stock, valued at approximately $3,211,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Clemens sold 10,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $46.82, for a total value of $468,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 59,570 shares of company stock worth $2,816,345 in the last ninety days. Insiders own 2.00% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.72%. Kennametal’s dividend payout ratio is presently 59.26%.
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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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