Kennametal (KMT) Scheduled to Post Earnings on Wednesday

Kennametal (NYSE:KMT) will announce its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. Kennametal had a net margin of 5.86% and a return on equity of 9.94%. The business had revenue of $495.30 million for the quarter, compared to analyst estimates of $498.99 million. During the same quarter last year, the firm earned $0.27 EPS. Kennametal’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts expect Kennametal to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Kennametal Stock Down 2.2 %

Kennametal stock opened at $23.53 on Wednesday. The company’s 50 day simple moving average is $24.38 and its 200 day simple moving average is $24.32. Kennametal has a fifty-two week low of $22.08 and a fifty-two week high of $30.60. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 3.23 and a beta of 1.78. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.44 and a quick ratio of 1.06.

Kennametal declared that its board has authorized a stock repurchase program on Wednesday, February 7th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KMT shares. Barclays reduced their price objective on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Finally, Morgan Stanley assumed coverage on shares of Kennametal in a research note on Monday, January 8th. They issued an “equal weight” rating and a $24.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.58.

Insider Transactions at Kennametal

In other news, VP John Wayne Witt sold 1,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $25.55, for a total value of $25,550.00. Following the sale, the vice president now owns 1,343 shares of the company’s stock, valued at $34,313.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.79% of the stock is currently owned by insiders.

Kennametal Company Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.