Kadant (NYSE:KAI) Releases Q4 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.90-2.10 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

KAI has been the topic of several research analyst reports. DA Davidson increased their price target on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barrington Research reiterated an “outperform” rating and set a $360.00 price objective on shares of Kadant in a research report on Wednesday.

Kadant Stock Performance

Shares of NYSE:KAI traded up $15.16 during midday trading on Wednesday, hitting $335.71. The company had a trading volume of 102,699 shares, compared to its average volume of 80,891. Kadant has a 12-month low of $217.85 and a 12-month high of $363.40. The company has a fifty day moving average of $322.41 and a two-hundred day moving average of $305.09. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 34.35 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 (NYSE:KAI) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.43 by $0.41. The firm had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.69 earnings per share. On average, equities research analysts expect that Kadant will post 9.93 EPS for the current fiscal year.

Kadant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, October 10th. Kadant’s dividend payout ratio is currently 13.17%.

Insider Buying and Selling at Kadant

In related news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the sale, the director now owns 4,250 shares in the company, valued at approximately $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

About Kadant

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.