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Stock Market & Financial Investment News

News Breaks
January 24, 2013
14:17 EDTKMTKennametal pullback a buying opportunity, says Barrington
Barrington believes Kennametal's organic volumes are currently bottoming and recommends buying the stock on today's pullback. The firm thinks Kennametal can see strong earnings over the next few years following this morning's guidance reset and keeps an Outperform rating on the stock.
News For KMT From The Last 14 Days
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January 29, 2015
08:04 EDTKMTKennametal cuts FY15 adjusted EPS $1.90-$2.10 from $2.80-$3.00, consensus $2.70
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08:03 EDTKMTKennametal estimates to achieve $40M-$50M in annaulized savings
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08:02 EDTKMTKennametal faces 'serious challenges' in the future
CEO Don Nolan said, "As attractive as our future may be, Kennametal also faces some serious challenges given that we have underperformed and missed investor expectations. It's clear we have some immediate work to do to deliver better performance by driving organic sales growth, getting our portfolio right and aligning our cost structure accordingly. We are taking additional actions to further reduce our manufacturing footprint and administrative overhead with a newly announced restructuring initiative, Phase 2. These key priorities—portfolio, cost structure and core growth with an accountable, customer-focused culture—are central to developing a path forward that will maximize profitability and generate improved shareholder returns."
08:02 EDTKMTKennametal reports Q2 adjusted EPS 52c, consensus 55c
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