Kennametal Inc. (NYSE:KMT) – Research analysts at Seaport Global Securities cut their Q1 2017 earnings per share estimates for Kennametal in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst W. Liptak now expects that the firm will earn $0.11 per share for the quarter, down from their prior forecast of $0.18. Seaport Global Securities currently has a “Neutral” rating and a $28.00 target price on the stock. Seaport Global Securities also issued estimates for Kennametal’s Q4 2017 earnings at $0.55 EPS, FY2017 earnings at $1.20 EPS, Q1 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $1.53 EPS.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Kennametal had a positive return on equity of 7.51% and a negative net margin of 10.77%. The business had revenue of $521.20 million for the quarter, compared to analyst estimates of $519.51 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s revenue was down 18.3% on a year-over-year basis.
A number of other analysts have also issued reports on KMT. Credit Suisse Group AG restated a “hold” rating on shares of Kennametal in a research report on Saturday, July 9th. Jefferies Group restated a “buy” rating and set a $30.00 target price on shares of Kennametal in a research report on Sunday, July 17th. Barrington Research raised their target price on shares of Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Zacks Investment Research lowered shares of Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, Bank of America Corp. lowered shares of Kennametal from a “neutral” rating to an “underperform” rating in a research report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Kennametal presently has a consensus rating of “Hold” and a consensus target price of C$24.44.
Kennametal (NYSE:KMT) opened at 27.86 on Friday. Kennametal has a 52 week low of $15.11 and a 52 week high of $29.45. The firm’s market cap is $2.22 billion. The company’s 50 day moving average is $28.07 and its 200-day moving average is $24.56.
Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Kennametal by 0.5% in the first quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $853,000 after buying an additional 200 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Kennametal by 0.6% in the second quarter. State Treasurer State of Michigan now owns 31,960 shares of the company’s stock worth $707,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank increased its position in shares of Kennametal by 2.4% in the second quarter. Amalgamated Bank now owns 9,816 shares of the company’s stock worth $283,000 after buying an additional 228 shares in the last quarter. Comerica Bank increased its position in shares of Kennametal by 0.5% in the second quarter. Comerica Bank now owns 63,620 shares of the company’s stock worth $1,755,000 after buying an additional 292 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Kennametal by 1.4% in the second quarter. PNC Financial Services Group Inc. now owns 28,067 shares of the company’s stock worth $622,000 after buying an additional 387 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, August 10th. Kennametal’s dividend payout ratio is presently -28.27%.
Kennametal Company Profile
Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
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