Kadant (NYSE:KAI) Issues Q4 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.90-2.10 for the period, compared to the consensus earnings per share estimate of $2.31. The company issued revenue guidance of $252-260 million, compared to the consensus revenue estimate of $263.09 million. Kadant also updated its FY 2024 guidance to 9.930-10.130 EPS.

Kadant Price Performance

Shares of NYSE KAI traded down $2.65 during mid-day trading on Thursday, reaching $333.06. 72,301 shares of the company traded hands, compared to its average volume of 80,851. Kadant has a fifty-two week low of $217.85 and a fifty-two week high of $363.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. The firm has a market cap of $3.91 billion, a PE ratio of 34.27 and a beta of 1.21. The stock has a fifty day simple moving average of $323.33 and a 200-day simple moving average of $305.50.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.41. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The business had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. During the same quarter last year, the business earned $2.69 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts anticipate 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. Shareholders of record on Thursday, October 10th will be given a $0.32 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.38%. Kadant’s dividend payout ratio (DPR) is 13.17%.

Analyst Ratings Changes

Several research analysts have issued reports on KAI shares. DA Davidson lifted their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barrington Research restated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research report on Wednesday.

Insiders Place Their Bets

In related news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company 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.