Kennametal Inc. (NYSE:KMT) is reporting first quarter earnings results on Monday 2nd November 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.06 per share from $ 385.64 million in revenue.
For the full year, analysts predict revenues of $ 1736.33 million, while looking forward to income of $ 1.09 per share.
Previous Quarter Performance
Kennametal Inc. posted income for the fourth quarter of $ 0.15 per share, from the revenue of $ 379.05 million. The quarterly earnings 82.14 percent while revenues shrunk 37.24 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.12 per share from $ 399.84 million in revenue. The bottom line results beat street analysts by $ 0.03 or 25.00 percent, at the same time, top line results fell short of analysts by $ 20.79 million or 5.2 percent.
Stock Performance
On Friday, shares of Kennametal Inc. has traded high as $ 31.32 and has cracked $ 30.36 on the downward trend, reaching $ 31.00 with volume of 886.00 thousand shares.
According to the previous trading day, closing price of $ 31.00, representing a 111.49 % increase from the 52 week low of $ 14.45 and a 21.09 % decrease over the 52 week high of $ 38.73.
The company has a market capital of $ 2.58 billion and is part of the Industrials sector and Tools & Accessories industry.
Recent Analyst recommendations
- On 12th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 33.00 target price.
- On 22nd September 2020, maintained by Bank of America at Underperform rating, with $ 22.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.20 per share on August 3, 2020. The dividend were payable on August 25, 2020 to holders of record as of the close of business on August 11, 2020 and ex-dividend date on August 10, 2020.
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 three segments: Industrial, Widia, and Infrastructure.
