Kadant (NYSE:KAI) Issues FY 2024 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 9.930-10.130 for the period, compared to the consensus EPS estimate of 9.930. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Kadant also updated its Q4 guidance to $1.90-2.10 EPS.

Analyst Upgrades and Downgrades

KAI has been the topic of several recent research reports. Barrington Research restated an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Friday, September 20th. DA Davidson raised their price objective on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

Kadant Stock Performance

NYSE:KAI traded down $1.60 during midday trading on Tuesday, reaching $320.55. The stock had a trading volume of 40,992 shares, compared to its average volume of 80,787. The stock has a market capitalization of $3.76 billion, a P/E ratio of 32.98 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. Kadant has a 1-year low of $217.85 and a 1-year high of $363.40. The firm’s fifty day simple moving average is $322.11 and its 200-day simple moving average is $304.90.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The business had revenue of $275.00 million for the quarter, compared to analyst estimates of $263.50 million. During the same period in the previous year, the company posted $2.54 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities research analysts forecast that Kadant will post 9.93 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.40%. Kadant’s dividend payout ratio (DPR) is presently 13.17%.

Insider Transactions at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the transaction, the director now owns 4,250 shares of the company’s stock, valued at approximately $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.