Kadant (NYSE:KAI) Releases FY24 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $9.80-$10.05 for the period, compared to the consensus earnings per share estimate of $10.03. The company issued revenue guidance of $1.045-$1.065 billion, compared to the consensus revenue estimate of $1.06 billion. Kadant also updated its Q3 guidance to $2.36-$2.48 EPS.

Wall Street Analyst Weigh In

KAI has been the topic of a number of analyst reports. William Blair reiterated an outperform rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research restated an outperform rating and issued a $360.00 price target on shares of Kadant in a report on Wednesday, June 26th.

Kadant Stock Up 0.9 %

Shares of KAI traded up $3.01 during mid-day trading on Tuesday, reaching $356.53. 91,789 shares of the stock traded hands, compared to its average volume of 88,750. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 36.88 and a beta of 1.24. The stock has a fifty day simple moving average of $298.12 and a 200 day simple moving average of $299.41. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39. Kadant has a 12-month low of $196.99 and a 12-month high of $359.85.

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

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s dividend payout ratio is presently 13.33%.

Insider Buying and Selling

In other news, Director Erin L. Russell sold 1,112 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $279.25, for a total transaction of $310,526.00. Following the completion of the transaction, the director now owns 3,802 shares of the company’s stock, valued at $1,061,708.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company 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.