Kadant (NYSE:KAI) Issues FY 2024 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 9.930-10.130 for the period, compared to the consensus EPS estimate of 9.930. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Kadant also updated its Q4 guidance to $1.90-2.10 EPS.

Kadant Price Performance

NYSE:KAI traded up $10.53 during trading hours on Friday, reaching $343.59. 19,280 shares of the company traded hands, compared to its average volume of 80,560. The firm’s 50-day moving average is $323.33 and its 200-day moving average is $305.50. The stock has a market cap of $4.03 billion, a P/E ratio of 34.09 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. Kadant has a 1-year low of $231.83 and a 1-year high of $363.40.

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

Kadant Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $337.40, for a total value of $674,800.00. Following the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at $1,433,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

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.