Kadant (NYSE:KAI) Announces Earnings Results, Beats Expectations By $0.64 EPS

Kadant (NYSE:KAI) posted its quarterly earnings results on Tuesday. The industrial products company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.00 by $0.64, FiscalAI reports. The company had revenue of $313.16 million during the quarter, compared to analysts’ expectations of $302.03 million. Kadant had a return on equity of 14.24% and a net margin of 9.81%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 EPS.

Kadant Stock Up 0.9%

Shares of KAI stock opened at $311.24 on Thursday. Kadant has a 1 year low of $244.87 and a 1 year high of $354.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.63 and a current ratio of 2.59. The stock has a market cap of $3.68 billion, a PE ratio of 31.17 and a beta of 1.19. The business’s fifty day moving average is $274.39 and its 200-day moving average is $306.30.

Kadant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Thursday, October 15th will be issued a $0.36 dividend. The ex-dividend date is Thursday, October 15th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. Kadant’s dividend payout ratio (DPR) is 15.48%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Kadant from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. DA Davidson increased their price target on Kadant from $306.00 to $335.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Kadant from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $357.50.

About Kadant

Kadant Inc (NYSE: KAI) is a global supplier of technologies and equipment used in the pulp and paper, recycling, and industrial processing industries. The company designs and manufactures products that help customers process fiber, manage fluids, improve production efficiency, and handle industrial materials.

Its offerings include systems and equipment for stock preparation, paper-machine cleaning, doctoring, filtration, water management, and fluid-handling applications. Kadant also provides material-handling and conveying equipment, as well as products used in recycling and other industrial processes.