FY2017 EPS Estimates for Kennametal Inc. (KMT) Increased by KeyCorp

Kennametal Inc. (NYSE:KMT) – KeyCorp boosted their FY2017 earnings per share (EPS) estimates for Kennametal in a research report issued to clients and investors on Tuesday. KeyCorp analyst S. Barger now expects that the firm will post earnings per share of $1.39 for the year, up from their previous forecast of $1.37. KeyCorp has a “Overweight” rating and a $40.00 price target on the stock. KeyCorp also issued estimates for Kennametal’s FY2018 earnings at $1.87 EPS.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, October 26th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Kennametal had a positive return on equity of 7.94% and a negative net margin of 11.95%. The company had revenue of $477 million for the quarter, compared to analyst estimates of $483.61 million. During the same period in the previous year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year.

WARNING: “FY2017 EPS Estimates for Kennametal Inc. (KMT) Increased by KeyCorp” was originally posted by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The legal version of this story can be accessed at https://www.com-unik.info/2017/01/11/fy2017-eps-estimates-for-kennametal-inc-kmt-increased-by-keycorp.html.

Earnings History and Estimates for Kennametal (NYSE:KMT)

KMT has been the topic of a number of other research reports. Jefferies Group increased their price target on Kennametal from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Zacks Investment Research lowered Kennametal from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Goldman Sachs Group, Inc. (The) raised Kennametal from a “neutral” rating to a “buy” rating and increased their price target for the stock from $26.00 to $36.00 in a research note on Monday, October 31st. J P Morgan Chase & Co lowered Kennametal from a “neutral” rating to an “underweight” rating and set a $27.00 price target on the stock. in a research note on Friday, December 9th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $30.00 price target (up previously from $27.00) on shares of Kennametal in a research note on Thursday, November 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Kennametal has an average rating of “Hold” and a consensus target price of $28.58.

Kennametal (NYSE:KMT) traded up 4.20% on Wednesday, reaching $35.20. The company had a trading volume of 1,099,192 shares. The firm has a 50-day moving average of $33.17 and a 200-day moving average of $28.84. Kennametal has a 12 month low of $15.11 and a 12 month high of $35.66. The stock’s market capitalization is $2.81 billion.

Several hedge funds have recently made changes to their positions in the stock. State Treasurer State of Michigan increased its stake in shares of Kennametal by 0.3% in the third quarter. State Treasurer State of Michigan now owns 32,060 shares of the company’s stock valued at $930,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank increased its stake in shares of Kennametal by 2.4% in the second quarter. Amalgamated Bank now owns 9,816 shares of the company’s stock valued at $283,000 after buying an additional 228 shares in the last quarter. Comerica Bank increased its stake in shares of Kennametal by 0.5% in the second quarter. Comerica Bank now owns 63,620 shares of the company’s stock valued at $1,755,000 after buying an additional 292 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Kennametal by 7.3% in the third quarter. LS Investment Advisors LLC now owns 5,233 shares of the company’s stock valued at $152,000 after buying an additional 355 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Kennametal by 1.4% in the second quarter. PNC Financial Services Group Inc. now owns 28,067 shares of the company’s stock valued at $622,000 after buying an additional 387 shares in the last quarter. Institutional investors own 95.03% of the company’s stock.

WARNING: “FY2017 EPS Estimates for Kennametal Inc. (KMT) Increased by KeyCorp” was originally posted by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The legal version of this story can be accessed at https://www.com-unik.info/2017/01/11/fy2017-eps-estimates-for-kennametal-inc-kmt-increased-by-keycorp.html.

In other news, insider Judith L. Bacchus sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $33.92, for a total transaction of $135,680.00. Following the completion of the sale, the insider now directly owns 7,383 shares in the company, valued at $250,431.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Kennametal Company Profile

Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.

5 Day Chart for NYSE:KMT

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