Q4 2022 EPS Estimates for Kennametal Inc. Reduced by Analyst (NYSE:KMT)

Kennametal Inc. (NYSE:KMTGet Rating) – Equities research analysts at KeyCorp cut their Q4 2022 earnings per share (EPS) estimates for Kennametal in a report released on Tuesday, May 3rd. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.57. KeyCorp also issued estimates for Kennametal’s FY2023 earnings at $2.17 EPS and FY2024 earnings at $2.50 EPS.

Kennametal (NYSE:KMTGet Rating) last released its quarterly earnings results on Monday, May 2nd. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. Kennametal had a net margin of 6.91% and a return on equity of 11.05%. During the same period in the prior year, the firm earned $0.32 EPS.

A number of other brokerages have also recently commented on KMT. Loop Capital cut shares of Kennametal from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $41.00 to $29.00 in a research note on Wednesday, April 6th. JPMorgan Chase & Co. cut shares of Kennametal from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $37.00 to $31.00 in a research note on Monday, March 28th. Zacks Investment Research cut shares of Kennametal from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a research note on Wednesday, February 9th. TheStreet cut shares of Kennametal from a “b” rating to a “c+” rating in a research note on Friday, February 25th. Finally, The Goldman Sachs Group dropped their price target on shares of Kennametal from $33.00 to $29.00 and set a “sell” rating for the company in a research note on Thursday, April 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.63.

Shares of KMT stock opened at $26.37 on Friday. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.00 and a beta of 1.91. The company’s fifty day moving average price is $28.52 and its 200-day moving average price is $33.44. Kennametal has a one year low of $25.34 and a one year high of $42.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.27 and a quick ratio of 1.10.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 24th. Investors of record on Tuesday, May 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.03%. Kennametal’s payout ratio is 49.08%.

In other Kennametal news, Director Joseph Alvarado purchased 1,000 shares of Kennametal stock in a transaction dated Monday, March 14th. The stock was acquired at an average price of $29.05 per share, for a total transaction of $29,050.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William M. Lambert acquired 36,698 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was purchased at an average cost of $26.23 per share, for a total transaction of $962,588.54. Following the transaction, the director now owns 52,360 shares in the company, valued at $1,373,402.80. The disclosure for this purchase can be found here. Company insiders own 1.47% of the company’s stock.

Several institutional investors have recently modified their holdings of KMT. JPMorgan Chase & Co. raised its position in Kennametal by 623.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,438,085 shares of the industrial products company’s stock worth $51,640,000 after acquiring an additional 1,239,213 shares during the period. Morgan Stanley boosted its stake in Kennametal by 1,140.8% during the second quarter. Morgan Stanley now owns 766,885 shares of the industrial products company’s stock worth $27,548,000 after buying an additional 705,078 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Kennametal by 25.5% during the third quarter. Goldman Sachs Group Inc. now owns 2,671,991 shares of the industrial products company’s stock worth $91,462,000 after purchasing an additional 543,119 shares in the last quarter. Millennium Management LLC lifted its position in shares of Kennametal by 167.2% during the third quarter. Millennium Management LLC now owns 745,172 shares of the industrial products company’s stock worth $25,507,000 after purchasing an additional 466,321 shares in the last quarter. Finally, Norges Bank acquired a new stake in Kennametal in the fourth quarter valued at approximately $14,544,000.

Kennametal Company Profile (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.

Further Reading

Earnings History and Estimates for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.