Kadant (NYSE:KAI) Releases Q4 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.90-2.10 for the period, compared to the consensus estimate of $2.31. The company issued revenue guidance of $252-260 million, compared to the consensus revenue estimate of $263.09 million. Kadant also updated its FY 2024 guidance to 9.930-10.130 EPS.

Kadant Stock Performance

Shares of KAI traded up $11.88 during trading hours on Friday, hitting $344.94. The company had a trading volume of 17,274 shares, compared to its average volume of 80,551. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 34.09 and a beta of 1.21. The business has a fifty day moving average of $323.33 and a 200-day moving average of $305.50. Kadant has a 12 month low of $231.83 and a 12 month high of $363.40. The company has a quick ratio of 1.40, a current ratio of 2.25 and a debt-to-equity ratio of 0.42.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.41. Kadant had a net margin of 11.12% and a return on equity of 15.41%. The company had revenue of $271.61 million for the quarter, compared to analyst estimates of $266.38 million. During the same period in the prior year, the firm earned $2.69 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that Kadant will post 9.99 EPS for the current fiscal year.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, October 10th. Kadant’s dividend payout ratio is 13.10%.

Analyst Ratings Changes

KAI has been the topic of a number of recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $360.00 price target on shares of Kadant in a research report on Wednesday. DA Davidson raised their price target on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the sale, the director now directly owns 4,250 shares in the company, valued at $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.