We have issued an updated research report on Kennametal Inc. (KMT - Free Report) on Apr 10. Its earnings are projected to grow 5% in the next three to five years.
This machinery company currently carries a Zacks Rank #2 (Buy), a revision from its earlier Zacks Rank #3 (Hold). Its market capitalization is approximately $3.2 billion.
Let’s delve deeper and discuss why investors should consider adding Kennametal’s stock to their portfolio.
Financial Performance and Earnings Estimate Revision: Kennametal’s financial performance was impressive in two of the last four quarters, with an average positive earnings surprise of 17.82%. In the last quarter, its revenues surpassed the Zacks Consensus Estimate by 6.8% while increased 17.2% year over year. Also, the bottom line surged 116.7% year over year, on the back of healthy organic sales, favorable mix and margin improvement.
In the last 60 days, the stock’s Zacks Consensus Estimate remained stable at $2.57 for fiscal 2018 (ending June 2018) while increased 0.3% to $3.02 for fiscal 2019 (ending June 2019). On a year-over-year basis, these estimates reflect growth of 69.1% for fiscal 2018 and 17.6% for fiscal 2019.
Kennametal Inc. Price and Consensus