Kennametal Inc. (NYSE:KMT) – Analysts at Seaport Global Securities lowered their Q2 2017 earnings estimates for Kennametal in a research note issued on Thursday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will post earnings of $0.20 per share for the quarter, down from their previous forecast of $0.21. Seaport Global Securities has a “Neutral” rating and a $28.00 price objective on the stock.
Several other research analysts have also recently commented on the company. Bank of America Corp. cut Kennametal from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 7th. Zacks Investment Research upgraded Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Barrington Research upped their price objective on Kennametal from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG restated a “hold” rating and set a $23.00 price objective on shares of Kennametal in a research note on Tuesday, August 2nd. Finally, Jefferies Group restated a “buy” rating and set a $30.00 price objective on shares of Kennametal in a research note on Sunday, July 17th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of C$24.44.
Shares of Kennametal (NYSE:KMT) opened at 27.86 on Monday. The stock has a 50 day moving average price of $28.07 and a 200 day moving average price of $24.56. Kennametal has a 12-month low of $15.11 and a 12-month high of $29.45. The firm’s market capitalization is $2.22 billion.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business earned $521.20 million during the quarter, compared to analysts’ expectations of $519.51 million. Kennametal had a positive return on equity of 7.51% and a negative net margin of 10.77%. The company’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS.
A number of institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC raised its position 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 during the period. Tower Research Capital LLC TRC raised its position 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 during the period. Bank of Montreal Can acquired a new position in shares of Kennametal during the second quarter worth about $150,000. Cantab Capital Partners LLP acquired a new position in shares of Kennametal during the second quarter worth about $223,000. Finally, Mackenzie Financial Corp raised its position in shares of Kennametal by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,287 shares of the company’s stock worth $227,000 after buying an additional 599 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.
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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