Roth Capital Analysts Cut Earnings Estimates for Cadre Holdings, Inc. (NYSE:CDRE)

Cadre Holdings, Inc. (NYSE:CDRE) – Research analysts at Roth Capital decreased their FY2024 earnings per share estimates for Cadre in a research report issued on Tuesday, August 13th. Roth Capital analyst M. Koranda now anticipates that the company will earn $1.01 per share for the year, down from their prior estimate of $1.03. The consensus estimate for Cadre’s current full-year earnings is $1.07 per share.

Cadre (NYSE:CDRE) last released its earnings results on Friday, August 9th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The firm had revenue of $144.31 million during the quarter, compared to analysts’ expectations of $142.06 million. Cadre had a return on equity of 19.18% and a net margin of 7.58%. Cadre’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS.

Cadre Stock Up 1.5 %

Shares of NYSE:CDRE opened at $34.46 on Wednesday. Cadre has a fifty-two week low of $23.85 and a fifty-two week high of $39.81. The firm’s 50 day moving average price is $34.52 and its 200 day moving average price is $34.39. The company has a quick ratio of 1.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CDRE. Harel Insurance Investments & Financial Services Ltd. lifted its position in Cadre by 454.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,624 shares of the company’s stock valued at $55,000 after acquiring an additional 1,331 shares during the last quarter. New York State Teachers Retirement System increased its position in Cadre by 1,640.0% during the first quarter. New York State Teachers Retirement System now owns 1,740 shares of the company’s stock worth $63,000 after buying an additional 1,640 shares during the period. Psagot Value Holdings Ltd. Israel lifted its stake in Cadre by 635.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 2,169 shares of the company’s stock valued at $72,000 after buying an additional 1,874 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Cadre by 992.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,283 shares of the company’s stock valued at $75,000 after acquiring an additional 2,074 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Cadre during the second quarter worth approximately $141,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

Insider Transactions at Cadre

In other news, Director Nicolas Sokolow sold 8,596 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $32.08, for a total transaction of $275,759.68. Following the completion of the transaction, the director now directly owns 547,620 shares of the company’s stock, valued at approximately $17,567,649.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 49.20% of the company’s stock.

Cadre Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.02%. Cadre’s payout ratio is 34.65%.

Cadre Company Profile

Cadre Holdings, Inc manufactures and distributes safety that provides protection to users in hazardous or life-threatening situations in the United States and internationally. The company operates in two segments, Products and Distribution. It offers body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brand names; survival suits, remotely operated vehicles, specialty tools, blast sensors, accessories, and vehicle blast attenuation seats for bomb safety technicians; bomb suits; duty gear, including belts and accessories; and other protective equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.