Kennametal (NYSE:KMT) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Kennametal (NYSE:KMT) issued its earnings results on Wednesday. The industrial products company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04, Briefing.com reports. The business had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. Kennametal’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS.

Kennametal Stock Performance

Shares of NYSE KMT traded down $1.88 during trading on Thursday, hitting $29.35. The company had a trading volume of 2,146,123 shares, compared to its average volume of 710,771. Kennametal has a 12 month low of $22.38 and a 12 month high of $32.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. The firm has a market capitalization of $2.29 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.88 and a beta of 1.64. The stock has a 50 day simple moving average of $25.54 and a 200 day simple moving average of $24.96.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal’s dividend payout ratio is presently 58.39%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMT. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research note on Friday, October 18th. Loop Capital raised their price target on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, Barclays upped their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.60.

About Kennametal

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.