Kennametal (NYSE:KMT) Updates FY20 Earnings Guidance

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.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.01). Kennametal had a net margin of 10.28% and a return on equity of 19.66%. The company had revenue of $603.95 million during the quarter, compared to analyst estimates of $643.95 million. During the same quarter last year, the company posted $0.87 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. Equities research analysts expect that Kennametal will post 3.05 earnings per share for the current fiscal year.

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.

About Kennametal

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.

Further Reading: Quick Ratio

Earnings History and Estimates for Kennametal (NYSE:KMT)

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