Q1 2023 EPS Estimates for Kennametal Inc. (NYSE:KMT) Lowered by Jefferies Financial Group

Kennametal Inc. (NYSE:KMT – Get Rating) – Investment analysts at Jefferies Financial Group cut their Q1 2023 earnings per share (EPS) estimates for shares of Kennametal in a report issued on Tuesday, August 2nd. Jefferies Financial Group analyst S. Volkmann now expects that the industrial products company will post earnings of $0.40 per share for the quarter, down from their prior estimate of $0.45. The consensus estimate for Kennametal’s current full-year earnings is $1.96 per share. Jefferies Financial Group also issued estimates for Kennametal’s Q2 2023 earnings at $0.45 EPS and FY2025 earnings at $2.30 EPS.

KMT has been the subject of a number of other research reports. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a research report on Wednesday. UBS Group lowered Kennametal from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $27.00 to $19.00 in a research report on Friday, July 8th. JPMorgan Chase & Co. reduced their price target on Kennametal from $31.00 to $22.00 and set an “underweight” rating for the company in a research report on Tuesday, July 12th. Barclays cut their price objective on Kennametal from $26.00 to $25.00 in a report on Wednesday. Finally, Morgan Stanley decreased their target price on Kennametal from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Three 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 stock. According to data from MarketBeat.com, Kennametal presently has a consensus rating of “Hold” and a consensus target price of $28.56.

Kennametal Trading Down 0.5 %

Shares of KMT stock opened at $26.24 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.05 and a current ratio of 2.11. Kennametal has a 1 year low of $21.62 and a 1 year high of $41.22. The stock has a fifty day moving average of $25.01 and a two-hundred day moving average of $28.09. The firm has a market capitalization of $2.17 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.69 and a beta of 1.90.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Kennametal had a return on equity of 11.10% and a net margin of 7.19%. The business had revenue of $530.02 million during the quarter, compared to analyst estimates of $516.09 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Monday, August 8th. Kennametal’s dividend payout ratio is currently 46.51%.

Institutional Investors Weigh In On Kennametal

Hedge funds have recently bought and sold shares of the business. UMB Bank N A MO purchased a new stake in Kennametal in the 4th quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in Kennametal in the 1st quarter worth about $39,000. Maverick Capital Ltd. purchased a new stake in Kennametal in the 4th quarter worth about $53,000. Pinebridge Investments L.P. acquired a new position in Kennametal in the 4th quarter worth about $83,000. Finally, Profund Advisors LLC increased its position in Kennametal by 5.4% in the 4th quarter. Profund Advisors LLC now owns 6,498 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 330 shares during 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.

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