Brokers Issue Forecasts for Kennametal Inc.’s FY2018 Earnings (KMT)

Kennametal Inc. (NYSE:KMT) – Barrington Research issued their FY2018 earnings per share (EPS) estimates for Kennametal in a report released on Thursday. Barrington Research analyst M. Gall anticipates that the industrial products company will post earnings of $2.48 per share for the year. Barrington Research currently has a “Outperform” rating and a $53.00 price target on the stock.

Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. Jefferies Group reiterated a “buy” rating and set a $60.00 price target on shares of Kennametal in a research report on Thursday, January 18th. KeyCorp reiterated a “buy” rating and set a $56.00 price target on shares of Kennametal in a research report on Wednesday, January 10th. ValuEngine upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus increased their price target on shares of Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Sunday, February 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.25.

Kennametal (KMT) opened at $42.59 on Monday. Kennametal has a 52-week low of $32.23 and a 52-week high of $52.52. The stock has a market cap of $3,474.21, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.95. The company has a current ratio of 2.77, a quick ratio of 1.52 and a debt-to-equity ratio of 0.60.

Kennametal (NYSE:KMT) last announced its earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The business had revenue of $571.00 million for the quarter, compared to analyst estimates of $541.78 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis.

Institutional investors have recently modified their holdings of the business. Fortaleza Asset Management Inc. acquired a new stake in Kennametal in the third quarter valued at approximately $115,000. Hartford Investment Management Co. acquired a new stake in Kennametal in the third quarter valued at approximately $202,000. World Asset Management Inc acquired a new stake in Kennametal in the third quarter valued at approximately $207,000. Trexquant Investment LP acquired a new stake in Kennametal in the third quarter valued at approximately $207,000. Finally, Koch Industries Inc. acquired a new stake in Kennametal in the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.

In other Kennametal news, VP Judith L. Bacchus sold 18,125 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $851,875.00. Following the sale, the vice president now owns 38,528 shares in the company, valued at $1,810,816. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy R. Mclevish sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the completion of the sale, the director now owns 78,904 shares in the company, valued at approximately $3,708,488. The disclosure for this sale can be found here. Insiders have sold a total of 45,125 shares of company stock worth $2,140,875 in the last quarter. 2.00% of the stock is currently owned by company insiders.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, February 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.88%. Kennametal’s dividend payout ratio is 45.45%.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/12/brokers-issue-forecasts-for-kennametal-inc-s-fy2018-earnings-kmt.html.

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.

Earnings History and Estimates for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply