Kennametal (NYSE:KMT) Announces Earnings Results, Beats Estimates By $0.04 EPS

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

Kennametal Stock Down 6.3 %

KMT traded down $1.97 on Thursday, reaching $29.26. The company’s stock had a trading volume of 1,184,036 shares, compared to its average volume of 706,317. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $25.54 and a two-hundred 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 P/E/G ratio of 2.88 and a beta of 1.64. Kennametal has a fifty-two week low of $22.38 and a fifty-two week high of $32.18.

Kennametal Announces Dividend

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is 58.39%.

Wall Street Analysts Forecast Growth

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

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.