We have issued an updated research report on Kennametal Inc. (KMT - Free Report) on Jan 14.
This industrial tool maker currently carries a Zacks Rank #3 (Hold). Presently, its market capitalization is approximately $3 billion.
Few growth drivers, as well as certain headwinds, which might influence Kennametal, have been discussed below.
Factors Favoring Kennametal
Financial Performance & Outlook: Kennametal recorded positive earnings surprise of 7.69% in the first quarter of fiscal 2019 (ended September 2018). Its earnings of 70 per share surpassed the Zacks Consensus Estimate of 65 cents and the year-ago tally of 55 cents by 27.3%.
For fiscal 2019 (ending June 2019), Kennametal anticipates gaining from strengthening end-market demand and its tactical initiatives. Adjusted earnings are predicted to be $2.90-$3.20 per share, above $2.65 recorded in fiscal 2018 (ended Jun 2018).
Currently, the Zacks Consensus Estimate for earnings is pegged at $3.13 for fiscal 2019 and $3.54 for fiscal 2020, reflecting year-over-year growth of 18.1% and 13.2%, respectively.
Kennametal Inc. Price and Consensus