Why Kennametal Inc.'s Shares Popped Today
Shares of industrial supplier Kennametal Inc. (NYSE: KMT) jumped as much as 12.8% in trading Thursday after the company reported fiscal first-quarter results. At 3:15 p.m. EDT, shares were still up 9.9% on the day.
Revenue rose 13.7% to $542.5 million in the quarter, and Kennametal swung from a loss of $21.7 million a year ago to a profit of $39.2 million, or $0.48 per share. Adjusted earnings were $0.55 per share. Analysts had only been expecting revenue of $513.5 million and earnings of $0.38 per share on an adjusted basis, so the surprise is what sent shares soaring.
Image source: Getty Images.
Source: Fool.com
Kennametal Inc. Aktie
22,60 €
-1,74 %
Gleichstand bei Kennametal Inc.: 2 Buy-Einschätzungen entsprechen 1 Sell-Einschätzungen.
Ein positives, wenn auch bescheidenes, Potenzial für Kennametal Inc. mit einem Kursziel von 24 € im Vergleich zum aktuellen Kurs von 22.6 €.
