Kennametal (NYSE:KMT) updated its FY20 earnings guidance on Monday. The company provided earnings per share guidance of $2.80-3.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.21. Kennametal also updated its FY 2019 guidance to $2.80-3.20 EPS.
Several brokerages have commented on KMT. ValuEngine cut shares of Kennametal from a hold rating to a sell rating in a research report on Wednesday, July 3rd. Bank of America set a $30.00 price objective on shares of Kennametal and gave the stock an underperform rating in a research note on Thursday, June 13th. Goldman Sachs Group lowered shares of Kennametal from a buy rating to a sell rating and lowered their price objective for the stock from $43.00 to $30.00 in a research note on Tuesday, July 16th. Zacks Investment Research lowered shares of Kennametal from a hold rating to a sell rating in a research note on Wednesday, May 8th. Finally, KeyCorp lowered their price objective on shares of Kennametal from $52.00 to $47.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Four analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $42.50.
Shares of Kennametal stock traded down $2.03 during trading on Monday, hitting $31.45. 1,109,900 shares of the stock were exchanged, compared to its average volume of 740,905. The firm has a market cap 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. The stock has a fifty day moving average of $34.57. Kennametal has a 1-year low of $30.32 and a 1-year high of $45.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.70 and a quick ratio of 1.34.
In related news, Director Lawrence W. Stranghoener sold 7,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $31.98, for a total value of $223,860.00. Following the transaction, the director now owns 26,108 shares in the company, valued at approximately $834,933.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.
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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