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.

Analysts Set New Price Targets

Several brokerages have commented on KAI. DA Davidson upped their price target on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barrington Research reaffirmed an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Wednesday.

Kadant Price Performance

Shares of KAI traded down $2.65 during trading hours on Thursday, hitting $333.06. 72,301 shares of the company were exchanged, compared to its average volume of 80,851. The company has a market capitalization of $3.91 billion, a PE ratio of 34.27 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. The firm has a fifty day simple moving average of $323.33 and a 200-day simple moving average of $305.50. Kadant has a one year low of $217.85 and a one year high of $363.40.

Kadant (NYSE:KAI) last announced 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 firm had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. During the same period in the previous year, the firm posted $2.69 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts predict that Kadant will post 9.93 earnings per share for the current year.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.38%. Kadant’s payout ratio is currently 13.17%.

Insider Transactions at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was 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 directly owns 4,250 shares in the company, valued at approximately $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

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.