Kadant (NYSE:KAI) Releases Q3 2024 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.360-2.480 for the period, compared to the consensus estimate of 2.670. The company issued revenue guidance of $257.0 million-$269.0 million, compared to the consensus revenue estimate of $273.9 million. Kadant also updated its FY 2024 guidance to 9.800-10.050 EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on KAI. William Blair reiterated an outperform rating on shares of Kadant in a research note on Tuesday, April 30th. DA Davidson boosted their price objective on shares of Kadant from $290.00 to $300.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Barrington Research restated an outperform rating and set a $360.00 price objective on shares of Kadant in a research note on Wednesday, June 26th.

Kadant Price Performance

Shares of Kadant stock traded down $14.83 on Friday, reaching $309.94. 102,964 shares of the stock were exchanged, compared to its average volume of 89,519. The firm’s 50 day moving average is $302.16 and its 200-day moving average is $300.60. Kadant has a one year low of $206.86 and a one year high of $363.40. 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 market cap of $3.64 billion, a PE ratio of 33.83 and a beta of 1.24.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.43 by $0.38. The business had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.73%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 EPS. As a group, analysts anticipate that Kadant will post 9.94 EPS for the current fiscal year.

Kadant Announces Dividend

The firm 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 $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s dividend payout ratio (DPR) is currently 13.33%.

Insider Buying and Selling at Kadant

In other news, Director Erin L. Russell sold 1,112 shares of the 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 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 SEC, which is available at this link. 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.