Kennametal (KMT) Issues FY19 Earnings Guidance

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Kennametal (NYSE:KMT) updated its FY19 earnings guidance on Monday. The company provided EPS guidance of $2.90-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.15. Kennametal also updated its FY 2019 guidance to $2.90-3.20 EPS.

A number of brokerages recently commented on KMT. Goldman Sachs Group began coverage on Kennametal in a research report on Tuesday, October 2nd. They issued a buy rating and a $53.00 price target on the stock. Barclays restated a hold rating and issued a $44.00 price target on shares of Kennametal in a research report on Wednesday, August 8th. ValuEngine upgraded Kennametal from a sell rating to a hold rating in a research report on Wednesday, August 8th. Bank of America cut Kennametal from a neutral rating to an underperform rating and set a $52.00 price target on the stock. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price target on Kennametal from $42.00 to $46.00 and gave the stock a market perform rating in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Kennametal presently has a consensus rating of Hold and a consensus price target of $48.50.

Shares of KMT stock traded up $1.45 during mid-day trading on Wednesday, reaching $40.44. 59,311 shares of the stock traded hands, compared to its average volume of 1,021,765. Kennametal has a 1-year low of $32.91 and a 1-year high of $52.52. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.45 and a beta of 2.12. The company has a current ratio of 1.74, a quick ratio of 1.15 and a debt-to-equity ratio of 0.48.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. Kennametal had a return on equity of 18.60% and a net margin of 8.45%. The firm had revenue of $587.00 million for the quarter, compared to analyst estimates of $590.22 million. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts predict that Kennametal will post 3.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Tuesday, November 13th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, November 9th. Kennametal’s payout ratio is 30.19%.

In other news, VP Gaalen Jan Kees Van sold 13,606 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $41.09, for a total transaction of $559,070.54. Following the completion of the transaction, the vice president now directly owns 68,827 shares in the company, valued at $2,828,101.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michelle R. Keating sold 988 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $42.20, for a total value of $41,693.60. Following the transaction, the vice president now owns 14,676 shares of the company’s stock, valued at $619,327.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Earnings History and Estimates for Kennametal (NYSE:KMT)

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