Kadant (NYSE:KAI) Releases Q3 2024 Earnings Guidance

Kadant (NYSE:KAI) updated its third quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.360-2.480 for the period, compared to the consensus EPS 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.

Kadant Price Performance

Shares of KAI stock traded up $3.01 during mid-day trading on Tuesday, reaching $356.53. The stock had a trading volume of 91,789 shares, compared to its average volume of 88,750. The company has a market cap of $4.19 billion, a P/E ratio of 36.88 and a beta of 1.24. The company has a current ratio of 2.05, a quick ratio of 1.27 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. The business has a 50-day simple moving average of $298.12 and a 200 day simple moving average of $299.41.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.42. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The firm had revenue of $248.98 million during the quarter, compared to the consensus estimate of $245.56 million. During the same period last year, the firm posted $2.40 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Kadant will post 10.03 earnings per share for the current year.

Kadant Dividend Announcement

The business 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s payout ratio is 13.33%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Kadant news, Director Erin L. Russell sold 1,112 shares of Kadant stock in a transaction that occurred 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 transaction, the director now directly 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 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.