Kadant (NYSE:KAI) Releases Q3 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.36-$2.48 for the period, compared to the consensus estimate of $2.68. The company issued revenue guidance of $257-$269 million, compared to the consensus revenue estimate of $273.88 million. Kadant also updated its FY 2024 guidance to 9.800-10.050 EPS.

Analyst Upgrades and Downgrades

KAI has been the subject of several analyst reports. William Blair reiterated an outperform rating on shares of Kadant in a report on Tuesday, April 30th. DA Davidson raised their price target on Kadant from $290.00 to $300.00 and gave the stock a neutral rating in a report on Thursday. Finally, Barrington Research restated an outperform rating and set a $360.00 price objective on shares of Kadant in a report on Wednesday, June 26th.

Kadant Stock Performance

KAI stock traded down $16.37 during midday trading on Friday, reaching $308.40. The stock had a trading volume of 59,686 shares, compared to its average volume of 89,227. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05. The firm has a fifty day simple moving average of $302.16 and a two-hundred day simple moving average of $300.60. The stock has a market cap of $3.62 billion, a PE ratio of 33.83 and a beta of 1.24. Kadant has a 52-week low of $206.86 and a 52-week high of $363.40.

Kadant (NYSE:KAI) last released its earnings results 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 15.73% and a net margin of 11.35%. The firm had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. During the same quarter in the previous year, the company posted $2.54 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Kadant will post 9.94 EPS for the current year.

Kadant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.42%. The ex-dividend date is Thursday, July 11th. Kadant’s dividend payout ratio is currently 13.33%.

Insider Activity

In other Kadant news, Director Erin L. Russell sold 1,112 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $279.25, for a total value of $310,526.00. Following the sale, the director now owns 3,802 shares in the company, valued at approximately $1,061,708.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.