Kennametal Inc. (NYSE:KMT) – Equities researchers at Seaport Global Securities decreased their Q1 2017 earnings per share (EPS) estimates for Kennametal in a research note issued to investors on Thursday. Seaport Global Securities analyst W. Liptak now anticipates that the firm will post earnings of $0.11 per share for the quarter, down from their previous forecast of $0.18. Seaport Global Securities has a “Neutral” rating and a $28.00 price objective 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.
Other analysts also recently issued reports about the stock. 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 price target on shares of Kennametal in a research report on Sunday, July 17th. Zacks Investment Research upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Bank of America Corp. downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating in a research report on Thursday, July 7th. Finally, 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. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of C$24.44.
Kennametal (NYSE:KMT) traded down 1.79% during trading on Friday, reaching $28.01. 225,909 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $28.03 and its 200-day moving average price is $24.53. The stock’s market capitalization is $2.23 billion. Kennametal has a 52 week low of $15.11 and a 52 week high of $29.45.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $521.20 million for the quarter, compared to the consensus estimate of $519.51 million. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. Kennametal’s revenue was down 18.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share.
Several institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Kennametal by 118.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 98,592 shares of the company’s stock valued at $2,217,000 after buying an additional 53,532 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Kennametal by 54.8% in the first quarter. Prudential Financial Inc. now owns 126,764 shares of the company’s stock valued at $2,851,000 after buying an additional 44,900 shares in the last quarter. HBK Investments L P acquired a new position in shares of Kennametal during the first quarter valued at about $2,411,000. Riverhead Capital Management LLC boosted its position in shares of Kennametal by 907.7% in the first quarter. Riverhead Capital Management LLC now owns 190,461 shares of the company’s stock valued at $4,283,000 after buying an additional 171,561 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Kennametal during the fourth quarter valued at about $20,009,000. 97.92% of the stock is currently owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a $0.20 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. Kennametal’s dividend payout ratio is currently -28.27%.
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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