Kennametal (NYSE:KMT) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided EPS guidance of $2.80-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.04. Kennametal also updated its FY20 guidance to $2.80-3.20 EPS.
Kennametal stock traded down $2.03 during mid-day trading on Monday, hitting $31.45. 1,109,900 shares of the stock were exchanged, compared to its average volume of 740,905. The company has a quick ratio of 1.34, a current ratio of 2.70 and a debt-to-equity ratio of 0.43. Kennametal has a 12 month low of $30.32 and a 12 month high of $45.10. The firm’s fifty day moving average price is $34.57. The firm has a market capitalization of $2.76 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.23 and a beta of 2.24.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $603.95 million during the quarter, compared to the consensus estimate of $643.95 million. Kennametal had a net margin of 10.28% and a return on equity of 19.66%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. On average, analysts forecast that Kennametal will post 3.05 earnings per share for the current year.
In related news, Director Lawrence W. Stranghoener sold 7,000 shares of Kennametal stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $31.98, for a total value of $223,860.00. Following the completion of the sale, the director now owns 26,108 shares of the company’s stock, valued at approximately $834,933.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Kennametal Company Profile
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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