Kennametal (NYSE:KMT) Issues Earnings Results, Beats Expectations By $0.04 EPS

Kennametal (NYSE:KMT) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04, Briefing.com reports. The company had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS.

Kennametal Price Performance

Shares of NYSE KMT traded down $1.97 on Thursday, hitting $29.26. The company’s stock had a trading volume of 1,184,036 shares, compared to its average volume of 706,317. The stock has a 50 day moving average of $25.54 and a 200-day moving average of $24.96. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.64. Kennametal has a 12-month low of $22.38 and a 12-month high of $32.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.80 annualized dividend and a yield of 2.73%. Kennametal’s dividend payout ratio (DPR) is currently 58.39%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KMT. Loop Capital lifted their price target on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research note on Friday, October 18th. Barclays raised their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.60.

About Kennametal

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.