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

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

Kennametal Stock Down 6.0 %

Shares of NYSE KMT traded down $1.88 during midday trading on Thursday, hitting $29.35. The stock had a trading volume of 2,146,123 shares, compared to its average volume of 710,771. The business’s 50 day moving average is $25.54 and its 200-day moving average is $24.96. Kennametal has a 52 week low of $22.38 and a 52 week high of $32.18. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.29 billion, a P/E ratio of 21.36, a PEG ratio of 2.88 and a beta of 1.64.

Kennametal Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.73%. Kennametal’s dividend payout ratio is currently 58.39%.

Wall Street Analyst Weigh In

KMT has been the topic of several recent analyst reports. Loop Capital raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Barclays raised 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. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Kennametal currently has an average rating of “Hold” and a consensus price target 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.