Kennametal Inc. (NYSE:KMT – Get Rating) – Stock analysts at KeyCorp reduced their Q1 2023 earnings per share (EPS) estimates for shares of Kennametal in a research report issued on Thursday, October 13th. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings of $0.34 per share for the quarter, down from their previous forecast of $0.38. The consensus estimate for Kennametal’s current full-year earnings is $1.80 per share. KeyCorp also issued estimates for Kennametal’s FY2023 earnings at $1.73 EPS and FY2024 earnings at $1.98 EPS.
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KMT has been the subject of a number of other research reports. Barclays dropped their target price on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Monday, October 3rd. JPMorgan Chase & Co. cut their price objective on shares of Kennametal from $31.00 to $22.00 and set an “underweight” rating for the company in a report on Tuesday, July 12th. Morgan Stanley lowered their target price on Kennametal from $27.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, October 13th. Jefferies Financial Group cut their price target on Kennametal from $45.00 to $35.00 in a report on Friday, July 15th. Finally, StockNews.com assumed coverage on Kennametal in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.75.
Kennametal Stock Performance
Shares of NYSE:KMT opened at $24.23 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.11 and a quick ratio of 0.93. Kennametal has a 1 year low of $20.21 and a 1 year high of $41.22. The firm has a market capitalization of $1.97 billion, a PE ratio of 14.09, a P/E/G ratio of 2.48 and a beta of 1.84. The business’s 50 day moving average price is $23.59 and its 200-day moving average price is $25.01.
Kennametal (NYSE:KMT – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Kennametal had a net margin of 7.19% and a return on equity of 11.10%. The company had revenue of $530.02 million during the quarter, compared to analysts’ expectations of $516.09 million. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in Kennametal during the 1st quarter worth approximately $39,000. Lazard Asset Management LLC purchased a new position in Kennametal in the second quarter valued at $42,000. Bank of Montreal Can boosted its holdings in Kennametal by 12.1% in the first quarter. Bank of Montreal Can now owns 7,089 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 768 shares during the period. Keebeck Alpha LP acquired a new position in Kennametal during the 1st quarter worth $209,000. Finally, Profund Advisors LLC increased its holdings in Kennametal by 12.9% during the 1st quarter. Profund Advisors LLC now owns 7,338 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 840 shares during the period.
Kennametal Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.30%. Kennametal’s payout ratio is currently 46.51%.
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.
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