B. Riley Has Positive Forecast for Cadre FY2024 Earnings

Cadre Holdings, Inc. (NYSE:CDRE) – Stock analysts at B. Riley lifted their FY2024 earnings estimates for Cadre in a research report issued on Thursday, November 7th. B. Riley analyst J. Van. Sinderen now forecasts that the company will post earnings per share of $0.94 for the year, up from their previous forecast of $0.92. The consensus estimate for Cadre’s current full-year earnings is $1.04 per share. B. Riley also issued estimates for Cadre’s Q4 2024 earnings at $0.36 EPS, FY2025 earnings at $1.24 EPS and FY2026 earnings at $1.55 EPS.

Cadre (NYSE:CDRE) last released its earnings results on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. 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 quarter last year, the business posted $0.29 EPS. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year.

Separately, Roth Mkm lowered their price target on shares of Cadre from $39.00 to $37.00 and set a “buy” rating for the company in a research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.75.

Cadre Stock Performance

Shares of Cadre stock opened at $33.99 on Friday. The business has a fifty day simple moving average of $36.92 and a two-hundred day simple moving average of $34.92. The firm has a market capitalization of $1.38 billion, a P/E ratio of 33.00, a P/E/G ratio of 2.08 and a beta of 1.30. The company has a current ratio of 3.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.66. Cadre has a 12 month low of $28.14 and a 12 month high of $40.28.

Cadre Dividend Announcement

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

Institutional Investors Weigh In On Cadre

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Cadre by 454.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,624 shares of the company’s stock worth $55,000 after purchasing an additional 1,331 shares during the period. Canada Pension Plan Investment Board bought a new position in Cadre in the 2nd quarter worth $141,000. Truist Financial Corp bought a new position in Cadre in the 2nd quarter worth $209,000. Oppenheimer Asset Management Inc. purchased a new stake in Cadre in the 2nd quarter worth $216,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Cadre in the first quarter valued at about $225,000. 43.95% of the stock is currently owned by institutional investors.

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.