Kennametal (NYSE:KMT) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.90-3.20 for the period, compared to the Thomson Reuters consensus estimate of $3.15. Kennametal also updated its FY 2019 guidance to $2.90-3.20 EPS.
Shares of Kennametal stock traded up $0.33 during trading on Monday, reaching $38.94. The company’s stock had a trading volume of 1,306,823 shares, compared to its average volume of 965,024. The stock has a market cap of $3.17 billion, a PE ratio of 14.69, a PEG ratio of 2.45 and a beta of 2.12. Kennametal has a 52 week low of $32.91 and a 52 week high of $52.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.15 and a current ratio of 1.74.
Kennametal (NYSE:KMT) last announced its earnings results on Monday, August 6th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.07. The company had revenue of $646.11 million during the quarter, compared to analysts’ expectations of $631.48 million. Kennametal had a net margin of 8.45% and a return on equity of 18.60%. Kennametal’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. Equities research analysts predict that Kennametal will post 3.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Tuesday, November 13th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. Kennametal’s payout ratio is presently 30.19%.
A number of equities research analysts have recently issued reports on KMT shares. BMO Capital Markets reissued a hold rating and issued a $42.00 target price on shares of Kennametal in a research report on Thursday, July 19th. ValuEngine raised shares of Kennametal from a sell rating to a hold rating in a research report on Wednesday, August 8th. Bank of America cut shares of Kennametal from a neutral rating to an underperform rating and set a $52.00 target price for the company. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Barclays reissued a hold rating and issued a $44.00 target price on shares of Kennametal in a research report on Wednesday, August 8th. Finally, Stifel Nicolaus reissued a hold rating and issued a $47.00 target price on shares of Kennametal in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Kennametal has an average rating of Hold and a consensus target price of $49.92.
In related news, VP Michelle R. Keating sold 988 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $42.20, for a total transaction of $41,693.60. Following the completion of the sale, the vice president now owns 14,676 shares of the company’s stock, valued at $619,327.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gaalen Jan Kees Van sold 13,606 shares of the company’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 sale, the vice president now directly owns 68,827 shares of the company’s stock, valued at approximately $2,828,101.43. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
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Kennametal Company Profile
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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