Kennametal (KMT) Updates FY 2019 Earnings Guidance

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.

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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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Earnings History and Estimates for Kennametal (NYSE:KMT)

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