Q3 2017 EPS Estimates for Kennametal Inc. (KMT) Increased by KeyCorp
Kennametal Inc. (NYSE:KMT) – Equities researchers at KeyCorp raised their Q3 2017 earnings per share estimates for Kennametal in a note issued to investors on Monday. KeyCorp analyst S. Barger now anticipates that the brokerage will earn $0.43 per share for the quarter, up from their previous forecast of $0.40. KeyCorp also issued estimates for Kennametal’s Q4 2017 earnings at $0.55 EPS and FY2017 earnings at $1.37 EPS.
Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, October 26th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Kennametal had a positive return on equity of 7.94% and a negative net margin of 11.95%. The company earned $477 million during the quarter, compared to analysts’ expectations of $483.61 million. During the same period in the prior year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was down 14.1% on a year-over-year basis.
KMT has been the topic of several other research reports. Zacks Investment Research upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Jefferies Group restated a “buy” rating and issued a $35.00 price target on shares of Kennametal in a research report on Tuesday, October 18th. Goldman Sachs Group Inc. upgraded shares of Kennametal from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $36.00 in a research report on Monday, October 31st. Barrington Research boosted their price target 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. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $23.00 price target on shares of Kennametal in a research report on Tuesday, August 2nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$26.45.
Shares of Kennametal (NYSE:KMT) opened at 34.22 on Thursday. The stock has a 50 day moving average of $29.00 and a 200 day moving average of $26.14. The stock’s market capitalization is $2.74 billion. Kennametal has a 52-week low of $15.11 and a 52-week high of $34.26.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Friday, November 11th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, November 8th. Kennametal’s dividend payout ratio is currently -26.49%.
Several hedge funds have recently modified their holdings of the stock. LS Investment Advisors LLC raised its stake in shares of Kennametal by 77.3% in the second quarter. LS Investment Advisors LLC now owns 4,878 shares of the company’s stock worth $108,000 after buying an additional 2,126 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Kennametal by 305.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,136 shares of the company’s stock worth $136,000 after buying an additional 4,624 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Kennametal during the second quarter worth about $150,000. Quantitative Investment Management LLC bought a new stake in shares of Kennametal during the third quarter worth about $200,000. Finally, Connable Office Inc. bought a new stake in shares of Kennametal during the third quarter worth about $243,000. 97.26% of the stock is owned by hedge funds and other institutional investors.
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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