Kennametal (KMT) Scheduled to Post Earnings on Wednesday

Kennametal (NYSE:KMT) will be posting its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Kennametal to post earnings of $0.31 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. Kennametal had a net margin of 5.86% and a return on equity of 9.94%. The firm had revenue of $495.30 million for the quarter, compared to the consensus estimate of $498.99 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, analysts expect Kennametal to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Kennametal Stock Performance

KMT opened at $24.54 on Monday. The company has a current ratio of 2.44, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $24.37 and its two-hundred day moving average price is $24.32. Kennametal has a 1-year low of $22.08 and a 1-year high of $30.60. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 3.29 and a beta of 1.76.

Kennametal declared that its board has authorized a stock buyback program on Wednesday, February 7th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays lowered their price objective on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their target price on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley started coverage on shares of Kennametal in a report on Monday, January 8th. They issued an “equal weight” rating and a $24.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.58.

Insider Buying and Selling

In related news, VP John Wayne Witt sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $25.55, for a total transaction of $25,550.00. Following the completion of the sale, the vice president now owns 1,343 shares in the company, valued at $34,313.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.61% of the stock is currently owned by corporate insiders.

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.