Cadre (NYSE:CDRE) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cadre (NYSE:CDRE) announced its quarterly earnings results on Wednesday. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02, Briefing.com reports. Cadre had a return on equity of 17.45% and a net margin of 7.55%. The company had revenue of $109.41 million during the quarter, compared to analysts’ expectations of $126.27 million. During the same period last year, the business earned $0.29 earnings per share. Cadre’s quarterly revenue was down 12.6% on a year-over-year basis. Cadre updated its FY 2024 guidance to EPS.

Cadre Price Performance

CDRE traded down $3.16 during trading on Thursday, hitting $33.99. The company’s stock had a trading volume of 502,514 shares, compared to its average volume of 229,410. The company has a current ratio of 3.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.08 and a beta of 1.30. The business’s fifty day simple moving average is $36.97 and its 200 day simple moving average is $34.92. Cadre has a twelve month low of $28.14 and a twelve month high of $40.28.

Cadre Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.35 dividend on an annualized basis and a yield of 1.03%. Cadre’s dividend payout ratio is currently 33.98%.

Analyst Ratings Changes

Separately, Roth Mkm cut their target price on shares of Cadre from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

About Cadre

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.