Jefferies Financial Group Analysts Decrease Earnings Estimates for Kennametal Inc. (NYSE:KMT)

Kennametal Inc. (NYSE:KMTGet Rating) – Equities research analysts at Jefferies Financial Group reduced their FY2022 earnings per share estimates for Kennametal in a research report issued on Tuesday, May 3rd. Jefferies Financial Group analyst S. Volkmann now expects that the industrial products company will post earnings per share of $1.75 for the year, down from their prior estimate of $1.85. Jefferies Financial Group also issued estimates for Kennametal’s Q4 2022 earnings at $0.50 EPS, Q2 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.65 EPS, FY2023 earnings at $2.30 EPS and FY2024 earnings at $2.90 EPS.

Kennametal (NYSE:KMTGet Rating) last announced its earnings results on Monday, May 2nd. The industrial products company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Kennametal had a return on equity of 11.05% and a net margin of 6.91%. During the same quarter in the previous year, the firm posted $0.32 EPS.

KMT has been the topic of a number of other research reports. Barclays lowered their target price on Kennametal from $30.00 to $28.00 in a report on Wednesday. Loop Capital cut Kennametal from a “buy” rating to a “hold” rating and lowered their target price for the company from $41.00 to $29.00 in a report on Wednesday, April 6th. Zacks Investment Research lowered Kennametal from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a research note on Wednesday, February 9th. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, JPMorgan Chase & Co. lowered Kennametal from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $37.00 to $31.00 in a research note on Monday, March 28th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.11.

Shares of NYSE:KMT opened at $27.08 on Thursday. The business’s fifty day moving average price is $28.63 and its two-hundred day moving average price is $33.48. The stock has a market cap of $2.25 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 2.90 and a beta of 1.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 2.39. Kennametal has a one year low of $25.34 and a one year high of $42.41.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in Kennametal by 8.9% in the first quarter. Victory Capital Management Inc. now owns 2,955,595 shares of the industrial products company’s stock valued at $83,130,000 after purchasing an additional 242,655 shares during the period. Versor Investments LP grew its stake in shares of Kennametal by 81.5% during the first quarter. Versor Investments LP now owns 11,829 shares of the industrial products company’s stock valued at $338,000 after acquiring an additional 5,310 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Kennametal by 7.2% during the first quarter. State of New Jersey Common Pension Fund D now owns 77,640 shares of the industrial products company’s stock valued at $2,221,000 after acquiring an additional 5,215 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Kennametal by 1.3% during the first quarter. Mutual of America Capital Management LLC now owns 75,782 shares of the industrial products company’s stock valued at $2,168,000 after acquiring an additional 962 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Kennametal by 7.1% during the first quarter. Nisa Investment Advisors LLC now owns 31,055 shares of the industrial products company’s stock valued at $888,000 after acquiring an additional 2,070 shares in the last quarter.

In other news, Director Joseph Alvarado bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of $29.05 per share, with a total value of $29,050.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.47% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 24th. Investors of record on Tuesday, May 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, May 9th. Kennametal’s dividend payout ratio (DPR) is currently 49.08%.

About Kennametal (Get Rating)

Kennametal Inc develops and applies 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. It operates through two segments, Metal Cutting and Infrastructure.

See Also

Earnings History and Estimates for Kennametal (NYSE:KMT)

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