Q1 2023 EPS Estimates for Kennametal Inc. Cut by KeyCorp (NYSE:KMT)

Posted by MarketBeat News on Aug 5th, 2022

Kennametal Inc. (NYSE:KMT – Get Rating) – Investment analysts at KeyCorp decreased their Q1 2023 earnings per share (EPS) estimates for Kennametal in a report issued on Tuesday, August 2nd. KeyCorp analyst S. Barger now anticipates that the industrial products company will earn $0.38 per share for the quarter, down from their prior forecast of $0.46. The consensus estimate for Kennametal’s current full-year earnings is $1.99 per share. KeyCorp also issued estimates for Kennametal’s FY2023 earnings at $1.90 EPS.

Kennametal (NYSE:KMT – Get Rating) last released its quarterly earnings data on Monday, August 1st. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Kennametal had a net margin of 7.19% and a return on equity of 11.10%. The firm had revenue of $530.02 million for the quarter, compared to analyst estimates of $516.09 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year.

Several other equities research analysts have also commented on KMT. UBS Group lowered shares of Kennametal from a “neutral” rating to a “sell” rating and lowered their price target for the company from $27.00 to $19.00 in a report on Friday, July 8th. The Goldman Sachs Group lowered their price target on shares of Kennametal from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, June 23rd. Morgan Stanley lowered their price target on shares of Kennametal from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Barclays lowered their price target on shares of Kennametal from $26.00 to $25.00 in a report on Wednesday. Finally, Jefferies Financial Group lowered their price target on shares of Kennametal from $45.00 to $35.00 in a report on Friday, July 15th. Three equities research 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.56.

Kennametal Price Performance

NYSE:KMT opened at $26.36 on Thursday. Kennametal has a one year low of $21.62 and a one year high of $41.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.05 and a current ratio of 2.11. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 2.65 and a beta of 1.90. The firm’s fifty day moving average is $25.04 and its two-hundred day moving average is $28.16.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, August 8th. Kennametal’s payout ratio is currently 46.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank N A MO purchased a new position in Kennametal in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in Kennametal in the 1st quarter valued at about $39,000. Maverick Capital Ltd. purchased a new position in Kennametal in the 4th quarter valued at about $53,000. Pinebridge Investments L.P. purchased a new position in Kennametal in the 4th quarter valued at about $83,000. Finally, Bank of Montreal Can lifted its stake in Kennametal by 12.1% in the 1st quarter. Bank of Montreal Can now owns 7,089 shares of the industrial products company’s stock valued at $206,000 after buying an additional 768 shares in the last quarter.

Kennametal Company Profile

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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.