Kennametal (NYSE:KMT) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Kennametal (NYSE:KMT) released its quarterly earnings results on Wednesday. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03, Briefing.com reports. The firm had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS.

Kennametal Trading Up 0.4 %

Shares of NYSE KMT traded up $0.13 during midday trading on Friday, reaching $29.48. 1,416,580 shares of the stock were exchanged, compared to its average volume of 1,013,127. The stock has a market capitalization of $2.29 billion, a P/E ratio of 23.03, a PEG ratio of 3.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 2.52. The company has a 50 day simple moving average of $25.68 and a 200 day simple moving average of $25.03. Kennametal has a twelve month low of $22.43 and a twelve month high of $32.18.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analyst Weigh In

KMT has been the topic of several research analyst reports. Barclays lifted their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Loop Capital increased their target price on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.60.

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.