Equities research analysts expect Kadant Inc. (NYSE:KAI) to announce $1.27 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Kadant’s earnings, with the highest EPS estimate coming in at $1.32 and the lowest estimate coming in at $1.24. Kadant posted earnings of $1.53 per share in the same quarter last year, which would suggest a negative year over year growth rate of 17%. The firm is scheduled to report its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that Kadant will report full-year earnings of $5.32 per share for the current financial year, with EPS estimates ranging from $5.25 to $5.35. For the next financial year, analysts forecast that the company will report earnings of $6.04 per share, with EPS estimates ranging from $5.55 to $6.33. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Kadant.
Kadant (NYSE:KAI) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.31. The business had revenue of $177.20 million during the quarter, compared to analysts’ expectations of $168.67 million. Kadant had a net margin of 9.50% and a return on equity of 17.67%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS.
Shares of Kadant stock opened at $84.06 on Wednesday. The stock has a market capitalization of $931.56 million, a P/E ratio of 14.14 and a beta of 1.29. The company has a quick ratio of 1.34, a current ratio of 2.09 and a debt-to-equity ratio of 0.86. The company has a 50-day simple moving average of $84.64 and a 200 day simple moving average of $87.62. Kadant has a 12-month low of $76.44 and a 12-month high of $103.01.
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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, October 9th.
In related news, Director Thomas C. Leonard sold 4,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $85.04, for a total transaction of $340,160.00. Following the completion of the sale, the director now owns 22,844 shares in the company, valued at approximately $1,942,653.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jonathan W. Painter sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $93.67, for a total transaction of $936,700.00. Following the completion of the sale, the chairman now owns 94,117 shares of the company’s stock, valued at approximately $8,815,939.39. The disclosure for this sale can be found here. Insiders have sold a total of 18,500 shares of company stock valued at $1,677,810 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in Kadant in the 2nd quarter valued at about $84,000. Tower Research Capital LLC TRC increased its position in Kadant by 838.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,230 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 1,099 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Kadant in the 2nd quarter valued at about $173,000. Price T Rowe Associates Inc. MD acquired a new stake in Kadant in the 2nd quarter valued at about $262,000. Finally, Jane Street Group LLC acquired a new stake in Kadant in the 2nd quarter valued at about $282,000. Hedge funds and other institutional investors own 93.94% of the company’s stock.
Kadant Company Profile
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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