Kadant (NYSE:KAI) Updates FY 2024 Earnings Guidance

Kadant (NYSE:KAI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 9.930-10.130 for the period, compared to the consensus earnings per share 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

Several research firms have recently weighed in on KAI. Barrington Research reissued an “outperform” rating and issued a $360.00 target price on shares of Kadant in a report on Wednesday. DA Davidson boosted their target price on Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

Kadant Stock Performance

KAI traded up $10.53 on Friday, hitting $343.59. 19,280 shares of the company traded hands, compared to its average volume of 80,560. The company has a 50 day moving average of $323.33 and a 200-day moving average of $305.50. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4.03 billion, a PE ratio of 34.09 and a beta of 1.21. Kadant has a 12-month low of $231.83 and a 12-month high of $363.40.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.41. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The company had revenue of $271.61 million for the quarter, compared to analysts’ expectations of $266.38 million. During the same quarter in the previous year, the firm posted $2.69 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts anticipate that Kadant will post 9.99 earnings per share for the current year.

Kadant Dividend Announcement

The firm 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. This represents a $1.28 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, October 10th. Kadant’s payout ratio is 13.10%.

Insiders Place Their Bets

In related news, Director Thomas C. Leonard sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 4,250 shares in the company, valued at $1,433,950. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

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.