Kennametal (NYSE:KMT) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.90-3.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.15. Kennametal also updated its FY19 guidance to $2.90-3.20 EPS.
Kennametal stock traded up $1.66 during mid-day trading on Wednesday, hitting $40.66. 573,605 shares of the company’s stock traded hands, compared to its average volume of 1,021,765. Kennametal has a fifty-two week low of $32.91 and a fifty-two week high of $52.52. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 2.45 and a beta of 2.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.74 and a quick ratio of 1.15.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $590.22 million. During the same quarter last year, the firm posted $0.48 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Kennametal will post 3.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Tuesday, November 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, November 9th. Kennametal’s dividend payout ratio is 30.19%.
Several equities research analysts have issued reports on KMT shares. Zacks Investment Research raised Kennametal from a hold rating to a buy rating and set a $45.00 price target for the company in a report on Friday, October 12th. Goldman Sachs Group started coverage on Kennametal in a report on Tuesday, October 2nd. They set a buy rating and a $53.00 price target for the company. Longbow Research raised Kennametal from a neutral rating to a buy rating and set a $50.00 price target for the company in a report on Monday, September 10th. Stifel Nicolaus reaffirmed a hold rating and set a $47.00 price target on shares of Kennametal in a report on Thursday, August 9th. Finally, Barclays reaffirmed a hold rating and set a $44.00 price target on shares of Kennametal in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $48.50.
In other Kennametal news, VP Gaalen Jan Kees Van sold 13,606 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $41.09, for a total transaction of $559,070.54. Following the transaction, the vice president now owns 68,827 shares in the company, valued at approximately $2,828,101.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michelle R. Keating sold 988 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $42.20, for a total value of $41,693.60. Following the completion of the transaction, the vice president now owns 14,676 shares in the company, valued at approximately $619,327.20. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
TRADEMARK VIOLATION NOTICE: This piece was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/11/07/kennametal-kmt-updates-fy-2019-earnings-guidance.html.
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.
Featured Article: Trading Strategy Methods and Types
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.