Kadant (NYSE:KAI) Issues Q3 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $2.36-$2.48 for the period, compared to the consensus EPS 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

Several brokerages have commented on KAI. William Blair restated an outperform rating on shares of Kadant in a research note on Tuesday, April 30th. Barrington Research restated an outperform rating and issued a $360.00 target price on shares of Kadant in a research note on Wednesday, June 26th.

Kadant Price Performance

Shares of NYSE:KAI traded up $3.01 on Tuesday, hitting $356.53. The company’s stock had a trading volume of 91,789 shares, compared to its average volume of 88,750. The company has a market capitalization of $4.19 billion, a PE ratio of 37.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.27. Kadant has a 1 year low of $196.99 and a 1 year high of $359.85. The company has a 50-day simple moving average of $299.55 and a 200 day simple moving average of $300.07.

Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.42. The business had revenue of $248.98 million for the quarter, compared to analyst estimates of $245.56 million. Kadant had a return on equity of 15.60% and a net margin of 11.53%. Kadant’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.40 EPS. Sell-side analysts forecast that Kadant will post 10.03 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be given a $0.32 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.36%. Kadant’s dividend payout ratio is currently 13.33%.

Insider Transactions at Kadant

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