Kennametal (NYSE:KMT)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Tuesday, AnalystRatings.NET reports. They currently have a $49.00 target price on the stock. Zacks‘ target price points to a potential upside of 4.48% from the company’s current price.
Zacks‘ analyst wrote, “Kennametal reported adjusted earnings per share of $0.53 in the fiscal first quarter 2014, reflecting 5.4% decline year-over- year. The result was also below the Zacks Consensus Estimate of $0.55. Total revenue was down due to 3% decline in organic revenue. Industrial and Infrastructure businesses were weak in Asia while the latter exhibited poor performance in the Americas too. Slower-than-anticipated recovery in end markets served, forced management to lower its organic revenue as well as earnings guidance for fiscal 2014. Despite the weak near-term outlook, benefits are expected from Kennametal’s acquisition of Stellite, Emura and tungsten materials business from Allegheny Technologies Incorporated. Also, the policy of rewarding shareholders through dividend payments and share buybacks will work in favour of the company. Considering the above, we maintain a Neutral recommendation on the stock.”
Kennametal (NYSE:KMT) traded down 0.28% on Tuesday, hitting $46.77. 85,334 shares of the company’s stock traded hands. Kennametal has a one year low of $34.72 and a one year high of $47.95. The stock has a 50-day moving average of $45.71 and a 200-day moving average of $43.11. The company has a market cap of $3.669 billion and a P/E ratio of 19.28.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.48 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.55 by $0.07. The company had revenue of $619.81 million for the quarter, compared to the consensus estimate of $622.20 million. During the same quarter last year, the company posted $0.57 earnings per share. Kennametal’s revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that Kennametal will post $2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 26th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 1st.
In other Kennametal news, CEO Carlos M. Cardoso unloaded 25,000 shares of Kennametal stock on the open market in a transaction dated Thursday, November 7th. The stock was sold at an average price of $46.33, for a total transaction of $1,158,250.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of other firms have also recently commented on KMT. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Kennametal in a research note to investors on Thursday, November 7th. They set a “neutral” rating and a $50.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Kennametal from $47.00 to $49.00 in a research note to investors on Friday, October 25th. They now have a “market perform” rating on the stock. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Kennametal in a research note to investors on Thursday, September 26th. They now have a $53.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Kennametal presently has an average rating of “Hold” and a consensus price target of $50.23.
Kennametal Inc (NYSE:KMT), is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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