Kennametal (KMT) Scheduled to Post Earnings on Wednesday

Kennametal (NYSE:KMT) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. Kennametal had a return on equity of 9.94% and a net margin of 5.86%. The business had revenue of $495.30 million for the quarter, compared to the consensus estimate of $498.99 million. During the same period last year, the business posted $0.27 EPS. The business’s revenue was down .4% compared to the same quarter last year. On average, analysts expect Kennametal to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Kennametal Price Performance

Shares of KMT stock opened at $24.61 on Tuesday. The stock’s 50-day moving average is $24.37 and its 200 day moving average is $24.33. Kennametal has a 1-year low of $22.08 and a 1-year high of $30.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.44 and a quick ratio of 1.06. The company has a market cap of $1.95 billion, a P/E ratio of 16.41, a PEG ratio of 3.29 and a beta of 1.76.

Kennametal announced that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KMT shares. Barclays reduced their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price target on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, Morgan Stanley started coverage on Kennametal in a report on Monday, January 8th. They issued an “equal weight” rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.58.

Insider Buying and Selling at Kennametal

In related news, VP John Wayne Witt sold 1,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $25.55, for a total value of $25,550.00. Following the completion of the sale, the vice president now owns 1,343 shares of the company’s stock, valued at approximately $34,313.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.79% of the stock is owned by corporate insiders.

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.