Kennametal Inc. Forecasted to Post Q4 2018 Earnings of $0.71 Per Share (KMT)

Kennametal Inc. (NYSE:KMT) – Jefferies Group lifted their Q4 2018 EPS estimates for Kennametal in a research report issued on Thursday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will earn $0.71 per share for the quarter, up from their previous forecast of $0.70. Jefferies Group currently has a “Buy” rating and a $50.00 target price on the stock.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.08). Kennametal had a return on equity of 12.51% and a net margin of 2.39%. The business had revenue of $565.03 million during the quarter, compared to analyst estimates of $562.16 million. During the same quarter last year, the company posted $0.44 EPS. Kennametal’s quarterly revenue was up 8.4% compared to the same quarter last year.

TRADEMARK VIOLATION NOTICE: This article was originally published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://transcriptdaily.com/2017/10/08/kennametal-inc-forecasted-to-post-q4-2018-earnings-of-0-71-per-share-kmt.html.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price objective on shares of Kennametal in a research note on Wednesday, August 23rd. Stifel Nicolaus reiterated a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. Wells Fargo & Company upgraded Kennametal from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $26.10 to $43.50 in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $43.00 in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Kennametal has a consensus rating of “Buy” and an average price target of $43.95.

Kennametal (KMT) opened at 40.51 on Friday. The company has a 50-day moving average of $37.26 and a 200 day moving average of $38.13. Kennametal has a one year low of $26.79 and a one year high of $43.09. The firm has a market cap of $3.27 billion, a P/E ratio of 66.41 and a beta of 1.94.

Several institutional investors have recently added to or reduced their stakes in KMT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 272 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Kennametal during the second quarter worth approximately $211,000. Oakbrook Investments LLC raised its stake in shares of Kennametal by 2.6% during the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 150 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Kennametal during the second quarter worth approximately $229,000. Finally, Capstone Asset Management Co. raised its stake in shares of Kennametal by 4.9% during the second quarter. Capstone Asset Management Co. now owns 6,155 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

In related news, insider Christopher Rossi purchased 29,880 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $33.46 per share, for a total transaction of $999,784.80. Following the completion of the purchase, the insider now directly owns 29,850 shares of the company’s stock, valued at $998,781. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Charles Michael Jr. Byrnes purchased 1,900 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $33.00 per share, with a total value of $62,700.00. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

About Kennametal

Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.

Earnings History and Estimates for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply