Equities research analysts at Global Hunter Securities increased their price objective on shares of Kennametal (NYSE:KMT) from $33.00 to $37.00 in a research note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has a “neutral” rating on the stock. Global Hunter Securities’ price objective would indicate a potential downside of 12.65% from the company’s current price.
KMT has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Kennametal from $41.00 to $45.00 in a research note to investors on Friday. Separately, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Kennametal in a research note to investors on Friday. They now have a $44.00 price target on the stock, up previously from $41.00. Finally, analysts at BB&T Corp. upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $55.00 price target on the stock.
Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $44.87.
Kennametal (NYSE: KMT) traded down 0.68% on Friday, hitting $42.36. Kennametal has a 1-year low of $33.95 and a 1-year high of $44.59. The stock’s 50-day moving average is currently $40.13. The company has a market cap of $3.330 billion and a price-to-earnings ratio of 16.92.
Kennametal (NYSE:KMT) last released its earnings data on Thursday, July 25th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $671.41 million for the quarter, compared to the consensus estimate of $678.92 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. Kennametal has set its FY14 guidance at $2.90-3.10 EPS. On average, analysts predict that Kennametal will post $3.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 21st. Investors of record on Tuesday, August 6th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, August 2nd. This is an increase from Kennametal’s previous quarterly dividend of $0.16.
Kennametal Inc (NYSE: KMT), is a supplier of tooling, engineered components and advanced materials consumed in production processes.